Barings, one of the world’s largest diversified real estate investment managers, has accommodated the growth of global investment firm Vanguard with the leasing of an additional floor at its Landmark office development on St Peter’s Square in Manchester City Centre. The latest deal leaves just one floor available for occupation within the 180,000 sq ft flagship office building.
In March 2023, Vanguard announced its plans to expand its UK footprint with the opening of an office in Manchester, having agreed a 10-year lease for the 14,013 sq ft, 7th floor at Barings’ Landmark office development. The move represented the first UK office outside of London for Vanguard, which has more than 1000 staff working across its European offices.
Approximately one year after announcing its entry into Manchester, Vanguard has agreed a lease for the 14,041 sq ft 6th floor to tie in with their 10 year term on the 7th floor, taking its total space at Landmark to over 28,000 sq ft.
Citing Manchester’s strong talent pool as a key driver for selection in the initial search, the city has become one of Vanguard’s fastest growing markets and provides an excellent base for accommodating extra capacity to serve its wider European business.
The news follows the recent announcement that Barings has leased the 13,228 sq ft 12th floor at Landmark to international law firm, DAC Beachcroft who is relocating from 3 Hardman Square in Spinningfields.
Only the 4th floor, comprising 14,058 sq ft, is available for occupation in Landmark, whose impressive tenant roster includes; HSBC UK, JP Morgan Chase & Co, Allianz Insurance, Grant Thornton, JLL, DAC Beachcroft, Vanguard, Starling Bank, Santander UK, RSM and Xero. Barings credits the securing of multiple global occupiers to Landmark’s technological infrastructure, sustainability, well-being and customer experience which have proven to be high on occupier criteria.
Key features at Landmark include contactless technologies enabling touch-free movement within the building, a dedicated cycle storage and maintenance hub, high-quality showers and changing facilities, electric car charging spaces and Amazon lockers for package delivery and returns which all add to the offering at the EPC A, BREEAM Excellent and Wired Score Platinum development.
Ian Mayhew, Managing Director, UK Asset management at Barings, said: “For a global investment firm such as Vanguard to select Manchester as its first UK office outside of London and then be doubling its space just over 12 months later is fantastic news on many levels. We are delighted that our provision at Landmark has created the right environment for growth and it is exciting to see an occupier flourish within the building. With keen interest in the remaining floor, we are looking forward to achieving full occupation of Landmark.”
Leasing agents for Barings on Landmark are JLL, CBRE and Colliers. Vanguard was advised by JLL.
