Markerstudy eyes up Manchester office after striking Co-op deal

Markerstudy is in talks to take up around 70,000 sq ft of space in Manchester’s Arndale House. The insurance firm is eyeing up the space to house Co-op’s Manchester-based insurance arm, CIS General Insurance, which it is in the process of acquiring for £185m. The sale, first announced in January, is still under way. The takeover is expected to complete in Q2 2019. M&G Real Estate and intu are joint owners of the 200,000sq ft office building. Currently, CIS General Insurance employees are located across two Manchester offices: CIS Tower and 1 Angel Square in the city centre. It has a historical connection with the building, having previously leased office space there. Current tenants include Sainsbury’s, which occupies 55,000 sq ft, and Premier Foods, which occupies the fifth floor. CBRE and Savills are the agents on the Arndale House scheme. Markerstudy, M&G and intu declined to comment. To send feedback, e-mail lucy.alderson@egi.co.uk or tweet @LucyAJourno or @estatesgazette