Schroder lines up lettings at Manchester’s City Tower

Schroder Real Estate Investment Management has struck several new lettings at its City Tower in Manchester.  Coalfire, a cyber risk management advisory firm, will take 5,466 sq ft on the building’s 28th floor on a 10-year lease, moving from its office at Manchester One. Oodle Car Finance has taken 66 desks from Schroder’s new flexible workspace offering, Elevate, having moved from a Regus office, while infrastructure support company Amey is relocating within the building. Rob Cosslett, deputy fund manager at Schroder UK Real Estate Fund, said: “The vertical village that we have worked hard to curate over the years encourages collaboration between our occupiers, which run a wide range of businesses from the building.  “These three new transactions will help to further expand that proposition, and to breathe additional vibrancy and community into City Tower.” Schroder bought City Tower in 2014, since which time the asset manager has invested in initiatives and amenities including a Sky Lounge, flexible workspace and upgraded cycling storage. In an interview with EG last year, head of real estate Duncan Owen and UK real estate boss Nick Montgomery pointed to the City Tower deal and subsequent expansion in Manchester as an example of the fund manager’s focus on what they called “winning cities”.  “We had a real conviction five years ago that Manchester was going to capture a disproportionate share of human and financial capital,” Montgomery said. “And we’re now not only amongst the biggest owners of real estate in Manchester, we also have a Manchester office.” To send feedback, e-mail tim.burke@egi.co.uk or tweet @_tim_burke or @estatesgazette Image courtesy of PR