6:20:12 11/03/10
9th May 2007
Cheshire based property development and investment company; Magnus have secured the final tenant at its remodeled Forty Four Peter Street Building in Manchester city centre. The latest tenant to take space within the prestigious building is Markel International Services - the insurance specialists have taken a 5 year lease at a new headline rent of £21.50 per sq ft.
Within only six months since the extensive remodeling of the 25,000 sq ft building was complete, Magnus agreed lettings to six different occupiers, - making it the fastest let multi-tenanted building of its size in Manchester city centre in recent times.
Forty Four Peter Street is also home to Taylors Solicitors, Buck Consultants, Derbyshire Building Society, Risk Management Research Institute Limited, Hitchenor Wakeford and Damac Properties (UK) Limited.
Magnus acquired Forty Four Peter Street in December 2005 and immediately undertook an extensive remodeling of the imposing building. The building provides high quality, Grade A accommodation over ground and seven upper floors and benefits from secure underground parking.
Vicki Crompton of Magnus said: "We have been delighted with how quickly we have been able to let Forty Four Peter Street and are keen to emulate this success in Manchester over the next few years. We have a great deal of experience in redeveloping existing buildings as well as creating new schemes and because we rarely sell any of our assets we are able to adopt a flexible approach in terms of leasing opportunities, setting us apart from our competitors."
Andrew Timms, Partner at letting agents Edwards & Co comments: "Forty Four Peter Street has proved very successful in providing Grade A office accommodation at a competitive rental to those typically sought within the traditional prime core."
Will Lewis of WHR Property Consultancy added: "Forty Four Peter Street has set a new rental tone for office accommodation on Peter Street. The success of the building is due to the stunning reception area and high quality of the finishes throughout. The building has proved that high quality schemes attract both strong local firms and also international businesses - the tenant mix at Forty Four is very encouraging."
WHR Consultants LLP and Edwards & Co are the joint letting agents.
