Benson Elliot, the UK-based private equity real estate fund manager, has inked over 60,000 ft² (5,574 m²) of leases in its portfolio of prime regional offices during a busy first quarter of 2015.
In Manchester, Benson Elliot let 17,000 ft² (1.579 m²) across two floors at 55 Princess Street to international law firm Trowers & Hamlins. 55 Princess Street offers 51,700 ft² (4,738 m²) of grade A office space in central Manchester, arranged over six floors, along with 4,100 ft² (371 m²) of ground floor retail space. Trowers & Hamlins has taken a 10 year lease and will join other tenants in the building including fellow law firm, Slater and Gordon and Tesco. The Trowers & Hamlins letting increases occupancy at 55 Princess Street to 77%. Since its acquisition of the building in September 2013, Benson Elliot has overseen the refurbishment of the reception and common areas, and upgraded vacant space, bringing the building into line with expectations of leading tenants in the market.
Other regional lettings include 36,200 ft² (3.344 m²) at 10 Templeback in Bristol and 8,600 ft² (743 m²) of space let to Colliers at 11 Brindleyplace in Birmingham. This flurry of letting activity reflects a recovery in regional office demand, particularly for grade A space in major markets, and Benson Elliot’s hands-on, dynamic approach to managing its office investments.
Source: Benson Elliot