Global workspace provider Regus has signed a lease agreement for 26,359 sq ft office space at St James’s Tower in Manchester city centre.
Regus has signed a deal to take half of the newly extended ground floor, all of the new first floor and the existing fourth and fifth floors.
The Manchester-based commercial real estate consultancy OBI, which has asset managed St James’s Tower since 2012, said refurbishment works which will be completed in Q1 2020, continue at St James’s Tower with a £3 million investment by the building’s owner.
Will Lewis, co-founder of OBI, said: “The £3m investment in St James’s Tower is massively changing the external appearance while significantly improving internal spaces.
“Securing Regus is particularly pleasing, given that this deal has been done before works have been completed. Regus offers the flexibility and amenity that the modern-day occupier is seeking and is a great addition to the building.
“The Regus brand is a highly respected operator that provides flexible workspace solutions and this major deal also demonstrates that the rise of managed workspace is very much continuing.”
Matthew Aubrey, Development Director UK & Ireland at Regus’ parent company, IWG, said: “We are delighted to be partnering with OBI to open this new site in Manchester. Right in the heart of the city centre, it’s ideally placed to serve the city’s burgeoning business community.
“Our serviced offer provides everything a business needs, including flexible expansion space and meeting and conferencing facilities, and we are very much looking forward to opening across four floors within what is a fantastic building.”
Richard Morris, UK CEO of Regus, said: “We’re delighted to have signed this deal as St James’s Tower is located in a very prominent location in the heart of Manchester city centre.
“Demand for flexible office space is growing rapidly – our research shows that 73% of Brits believe that flexible working is the ‘new normal’, with 53% of professionals globally now working remotely for at least half their working week. People are recognising that they are far more productive and successful in a dynamic working environment, while businesses are waking up to the financial and strategic benefits. Regus is helping to supply this demand and drive a workspace revolution in Manchester and beyond,” he added.