MEPC's deal signing global banking institution Bank of New York Mellon for the entire 200,000 square feet at Manchester's 4 Angel Square offices was not only the North West's biggest letting in 2024 but the largest UK regional office letting in four years.
As such it would be a worthy winner of CoStar's Impact Award for Lease of the Year in the North West in any year, but particularly one where large-scale office moves have been difficult to secure across the UK. The deal sees the company relocate from two existing locations in Manchester to the 10-storey scheme, which sits in the Noma offices campus.
About the project:
4 Angel Square is a net-zero contemporary office in Noma, which redeveloped the Co-op's historic home in Manchester, and was designed by award-winning Manchester architect Simpson Haugh.
Chris Mulcahy at JLL, who acted on behalf of Bank of New York Mellon, said: "It enabled our clients to amalgamate two offices into one and expand their footprint in the city by around 50,000 square feet. BNYM having been an inward investor to the city around 20 years ago are now one of the largest private employers in the Manchester and this move secures and creates many further jobs here for many years to come.”
James Devany at JLL, who advises the landlord MEPC/Federated Hermes alongside Colliers, said: “We have advised the landlord at NOMA for over 15 years across the whole estate including the recommendations to speculatively build this first new office at the scheme, 4 Angel Square. To have fully let this building within a few months of the building practically completing is very satisfying and we hope is the first of many new build offices on the scheme. This letting was the largest in the regions since 2020 at the time which emphasises its significance not only in the city but across the country."
What the judges said:
Chris Cheap, managing director UK Regions, Avison Young: "This letting has secured a significant amount of jobs within central Manchester. The long term commitment by BNYM to Manchester and the North West has been facilitated in a building which has true sustainability credentials and provides a backdrop for both landlord and tenants' journey to [net zero carbon]."
Tom Bloxham, chairman and founder, Urban Splash: " This deal is confirming, one, Ancoats as a prime office location, and, two, sustainable buildings let fast."
Anupam Nanda, professor, University of Manchester, said: "It adds significant promise and a fresh view towards ensuring impact. It sets a benchmark for such spaces in the local/regional market."
John Hughes, managing director, Ask Real Estate, said: "In a challenging post Covid office market this was outstanding."
They made it happen:
Chris Mulcahy, director, office agency, JLL, James Devany, director, national office agency, JLL, Peter Gallagher, director, Colliers, Conor Walmsley, associate director, Colliers, Dominic Pozzoni, director, Colliers, Dominque Murray, head of customer experience & marketing, MEPC Ltd, Paul Pavia, head of development & director, MEPC Ltd, Dan Hyde, director MEPC Ltd, Chris Sills, senior asset manger, MEPC Ltd, Rhys Evans, associate director, JLL.