Henry
Boot and GMPF secures 45,700 sq ft pre-let to Virgin Media O2 in
Manchester
Henry Boot announces that HBD, the
group's property investment and development arm, has pre-let 45,700
sq ft of office space to Virgin Media O2 at
its JV scheme with Greater Manchester Pension Fund (GMPF), Island,
a premium £66m GDV (our share £33m) development located in
Manchester's Central Business District.
In October, Virgin Media O2, the
British telecommunications company, agreed to pre-let a total of
45,700 sq ft across the top five floors on a 10-year lease, which
represents c.50% of the office space in the building.
Virgin Media O2 will relocate
several regional sites into a single city centre location, creating
a northern hub that will host, among other teams, the company's
customer service agents who provide specialist support on a range
of customer issues.
The site was initially acquired by
GMPF before HBD became a 50/50 joint venture partner in 2019,
assuming the role of development and project manager. HBD achieved
planning permission to develop Island in 2021 before building works
commenced in 2022. Once complete, Island
will provide 91,000 sq ft of prime workspace space across nine
floors.
Employee wellbeing and
sustainability are at the heart of this premium office development
which is targeting BREEAM 'Excellent' and EPC A ratings. HBD has
also signed a 5* NABERS Design for Performance Agreement with The
Building Research Establishment, with an aspiration of reducing
energy further, where possible, towards a 5.5* rating.
Island is expected to complete by
the end of October 2024.
Tim
Roberts, CEO at Henry Boot, commented: "Our joint venture with GMPF 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.
Island's unrivalled sustainability
credentials make it an attractive site for a diverse range of
occupiers and we look forward to welcoming more tenants into
Manchester's best-in-class office space to support their business
and ESG ambitions for many years to come."
Ed
Hutchinson, Managing Director at HBD,
said: "Virgin Media O2's
decision to invest in Island and call this remarkable building its
new home in Manchester is testament to the exceptional space we
have created here. Island has been carefully designed around the
needs of the occupier. Not only is it a highly intelligent
and sustainable building, but it's one which prioritises people's
health and well-being. Virgin Media O2's values are perfectly
aligned with ours and we're proud to welcome them to
Island."
At Island, Virgin Media O2 will
enjoy a building which has achieved Well Building Gold Rating.
Designed to ensure that occupiers can be highly inclusive, Island
features design elements and spaces which support neurodiversity,
people of different faiths and gender identification as well as
spaces for nursing mothers.
Ed Hutchinson continued: "There is
strong interest in the remaining space that is available at Island,
with plenty of options to join Virgin Media O2 across the remaining
four floors. "
Patricia Cobian, Virgin Media O2's Chief Financial Officer,
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 state-of-the art office will
provide a vibrant space for our employees in the North West to get
together in person and collaborate, meeting our needs now and
helping to attract future talent. Improving our people's experience
was a key focus in the selection process, and Island offers our
employees a wide range of amenities and facilities that are not
currently available to them.
"With enviable environmental
credentials and excellent transport links, this move will help
reduce our carbon emissions and make it easier than ever for our
employees to choose more environmentally-friendly modes of
transport."
Andy
Burnham, Mayor of Greater Manchester, said:
"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."
OBI represented Island and CBRE
acted for Virgin Media O2.
END
Notes to
editors
Henry Boot is one of the UK's leading
land, property development, home building and construction
businesses - and we've been transforming land and spaces since
1886. Listed on the London Stock Exchange since 1919, we're
renowned for quality, expertise, delivery and a partnership
approach across the group - which comprises, Hallam Land, HBD,
Stonebridge, Henry Boot Construction, Banner Plant and Road
Link.
Operating across the UK, and
employing over 500 people, we focus on three key markets: urban
development, industrial and logistics and residential. Hallam Land
has facilitated 52,000 new homes since 1990, managing one of the
top five largest land portfolios in the country, with the potential
to facilitate over 100,000 homes. HBD manages a development
pipeline of £1.3bn, the equivalent of 7m sq ft of developments
across our key markets, while maintaining a £113m investment
portfolio, of which 73% of the properties have an EPC rating of 'C'
or higher. Stonebridge, our jointly-owned home building business,
manages a land portfolio capable of delivering 1,500 homes, with an
ambition to deliver up to 600 new homes a year.
Henry Boot Construction has extensive
experience in both the public and private sectors, including major
projects such as the £200m regeneration of Barnsley town centre,
and The Cocoa Works, a £57m residential development in York. For
over 65 years, Banner Plant has supplied construction products and
services, operating from seven regional depots in the North of
England.
We have also developed an ambitious
Responsible Business Strategy to help us meet our aim of being Net
Zero Carbon by 2030, and to deliver, by 2025, charitable, community
and education work valued at £1m.
From land promotion, property
development and investment to home building, construction and plant
hire, Henry Boot is where great places start.
henryboot.co.uk
Enquiries
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797067
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Henry Boot PLC
Tim Roberts, Chief Executive
Officer
Darren Littlewood, Chief Financial
Officer
Daniel Boot, Senior Corporate
Communications Manager
07825 088807
dboot@henryboot.co.uk
henryboot.co.uk
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