The ninth floor of Carlyle’s Three Piccadilly Place has gone under offer to a digital company, ending a lettings drought at the scheme.
Egencia, the corporate bookings arm of travel company Expedia, is believed to be in talks to take the whole of the 12,700 sq ft floor of the building, developed by Argent and bought by Carlyle in 2008.
The 200,000 sq ft building, located outside the traditional business district, has more than 70,000 sq ft of vacant space. As the Manchester occupier market has worsened during the downturn, it has struggled to attract tenants to relocate as far as its Piccadilly station location.
A 61,000 sq ft letting to Royal & Sun Alliance fell through in February 2011, due to lease accounting changes, and the letting to Egencia would be the first activity at the building since.
The insurer planned to take a lease of more than 10 years at £25/sq ft with up to three years rent free, terms likely to be reflected in Egencia’s deal.
Elsewhere in Manchester, HSB Engineering is thought to have instructed Jones Lang LaSalle to find 15-20,000 sq ft of space, and is believed to be considering Piccadilly Place as one option.
Carlyle Group’s neighbouring Four Piccadilly Place has 110,000 sq ft of space still to let.
GVA advises Carlyle; Cushman & Wakefield advises Egencia.
All parties declined to comment.
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27 July 2012
27 July 2012
27 July 2012
27 July 2012
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