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Wednesday, March 21, 2024

HSBC moves into Spinningfields, Manchester

Final tenant to occupy the remaining 30,000 ft² of 4 Hardman Square

Allied London has secured a final tenant for its first speculative building at its flagship development, Spinningfields in Manchester. The UK's largest bank, HSBC is set to occupy the remaining 30,000 ft² of No 4 Hardman Square having agreed a 15 year lease at £28 per square foot.

The contemporary headquarters building is also to become home to Grant Thornton, which agreed to take 25,000 ft² last year. 4 Hardman Square is situated in the heart of Spinningfields in the new Hardman Square, which is to be the focal area of Spinningfields.

Spinningfields is fast becoming the new business district for Manchester and has attracted a number of top financial institutions including Barclaycard and Deloittes.

"We are delighted to have landed such a high profile organisation for this prominent landmark building", says Michael Ingall, chief executive of Allied London. "Spinningfields has set a benchmark for office accommodation in Manchester and this has been reflected in level of success we have achieved at the scheme. HSBC will add to the mix of companies located at Spinningfields and I have no doubt that the development will continue to attract similar high quality occupiers."

In addition to the office space, HSBC has taken a 15 year lease on a 116 m² (1,250 ft²) ground floor unit, which will operate as a walk in branch to support its existing city centre network. "Our client was keen to close the deal before the end of the year and we are extremely pleased to have been able to achieve this," adds Chris Mulcahy, partner at King Sturge which acted on behalf of the bank. "4 Hardman Square fronts the main public square within the wider Spinningfields development, giving the building its own unique identity. It was this location, coupled with scheme's high profile within the Manchester office market that ultimately proved to be the draw for HSBC."

King Sturge acted on behalf of HSBC. Jones Lang LaSalle and Dunlop Haywards acted on behalf of Allied London.