16th Oct 2024 11:01
(Alliance News) - Henry Boot PLC on Wednesday said it has secured a pre-let of 45,700 square feet of office space to Virgin Media O2 in Manchester.
Henry Boot is a property development, home building and construction business based in Sheffield, England. HBD is the group's property investment and development arm.
The office space is located in Island, a GBP66 million development in Manchester's Central Business District.
The development is co-owned by Henry Boot's HBD and the Greater Manchester Pension Fund.
Henry Boot said it expects the Island development to be completed by the end of October.
Henry Boot Chief Executive Officer Tim Roberts said: "Our joint venture with Greater Manchester Pension Fund has enabled the delivery of a truly outstanding office space in Manchester. This landmark pre-let is testament to HBD's expertise in delivering sustainable commercial office spaces that exceed occupiers' expectations and support them in attracting and retaining the best talent."
The Virgin Media O2 lease represents approximately 50% of the office space in the building.
Henry Boot said Virgin Media O2 plans to relocate several regional sites to the new Manchester location to create a northern hub.
Virgin Media O2 Chief Financial Officer Patricia Cobian said: "This significant investment demonstrates our commitment to retaining a sizeable presence in Manchester, with a flagship new office that places us in the heart of the city's thriving technology hub."
The office will host the Virgin Media O2's customer service agents.
Greater Manchester Mayor Andy Burnham added: "It's very positive to see Virgin Media O2 bring their new North West HQ to Manchester in a state-of-the-art facility with net-zero carbon workspaces that enhance our carbon neutral plans. This multi-million-pound investment will bring a significant boost to the city-region and highlights Greater Manchester as a place where companies want to invest."
Henry Boot shares were up 0.2% at 228.55 pence each in London on Wednesday morning.
By Lydia Doye, Alliance News reporter
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