Hana readies for Manchester ‘cluster effect’ with first opening
Flexible office operator Hana is eyeing Manchester expansion under its new ownership, having opened the doors at its first site in the city this week.
The company has opened at Windmill Green in Manchester, an eight-storey office building owned by Fore Partnership. Hana has taken about 26,000 sq ft, operating on half of the ground floor as well as the first and second floors.
The building is now 75% let, with other tenants including software company Odyssey Interactive, recruitment company Oscar Technology and fintech OneStream Software.
Flexible office operator Hana is eyeing Manchester expansion under its new ownership, having opened the doors at its first site in the city this week.
The company has opened at Windmill Green in Manchester, an eight-storey office building owned by Fore Partnership. Hana has taken about 26,000 sq ft, operating on half of the ground floor as well as the first and second floors.
The building is now 75% let, with other tenants including software company Odyssey Interactive, recruitment company Oscar Technology and fintech OneStream Software.
Paul Nellist, Hana’s European managing director, said the green credentials of the building were a key draw for Hana. “We saw that as being aligned to our own values,” he added. “It’s refreshing to work with a landlord who puts purpose beyond profit.”
Basil Demeroutis, partner at Fore Partnership, said making Windmill Green home to a flex provider “was in our plans since day one”. “We designed the ground floor space in particular for a flex operator, with easy access off the reception,” he said. “It was designed with a flex operator at its heart. The idea is you need to start with the flex offering and that really helps define the building.”
The two parties have struck a hybrid deal for the space, including a base rent and an element of profit sharing. “That means we both have skin in the game and vested interests,” Demeroutis said. Nellist added: “We’re then co-creators of that space. It’s a joint ownership, with risk and reward.”
Hana, established by agency CBRE but now being spun off to New York-based flex company Industrious as part of CBRE’s investment in the latter, also plans to open in Barings’ Landmark building at St Peter’s Square later in the year.
“We see Manchester as a growth market,” said Nellist. “We’re really seeing that come through now. We have two exceptional buildings that really complement each other well. We believe in that cluster effect, and Manchester is going to be a great example of that.”
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Photos: Hana
