Bruntwood SciTech, a joint venture between Bruntwood, Legal & General and Greater Manchester Pension Fund, has secured its first major letting of the year by signing Auto Trader at No.3 Circle Square in Manchester.
CoStar News revealed in May that the online marketplace company was under offer on a prelet deal for around 130,000 square feet at the development, which is one of the city's largest new offices.
The move would see Auto Trader, one of the UK’s largest technology companies, relocate from its existing offices at One Tony Wilson Place, where it has around 76,000 square feet, according to CoStar data.
Bruntwood SciTech has now confirmed the deal at the £87 million development near Manchester Oxford Road station set to complete in April, where Auto Trader will occupy seven floors including a private rooftop terrace.
The landlord said No.3 Circle Square's sustainability credentials, including an expected BREEAM Excellent and NABERS 5-star ratings, was a "key driver" in getting the deal over the line – helping Auto Trader to be a net zero business by 2040. The relocation is also a commitment to the city and surrounding areas, Bruntwood SciTech said.
It joins a number of global tech brands at Circle Square, including Hewlett Packard Enterprise, Roku, Bosch and Autocab, acquired by Uber in 2020. No.1 and No.2 Circle Square are fully let.
The scheme's latest building will have 267,000 square feet of Grade A office accommodation on 15 floors, plus meeting rooms, and food and drink space, secure bike storage, showers and changing facility.
Alison Ross MBE, Auto Trader’s chief people and operations director, said in a statement: "To continue to grow, we not only need more space to house our rapidly expanding data and technology teams, but also state-of-the-art facilities which can support their pace of innovation and ambition.
"We also need a space where we can welcome the wider automotive ecosystem, our partners, customers and peers to share data, insights and work collaboratively. The relocation of our head office to Circle Square within the heart of Manchester’s thriving tech community will help us to deliver this growth, and it reaffirms our unwavering commitment to the city."
Mega deals return
Auto Trader's 130,000-square-foot deal at Circle Square marks another significant transactions for regional cities in the last six months, with a number over 100,000 square feet completing.
Bank of New York Mellon also signed a large deal in the city, taking 200,000 square feet at MEPC's 4 Angel Square last year. It was the first truly large regional office letting following the COVID pandemic and the return to work.
In Birmingham, Aston University's acquisition of 10 Woodcock Street from the city council City Council meant the regions registered another large deal in 2024, as it will occupy the whole of the property, 200,000 square feet. It is set to refurbish the scheme after the acquisition.
