Leading law firm agrees deal for offices at Manchester’s No. 1 Spinningfields

A deal has been agreed for law firm Fieldfisher to occupy over 11,000sq ft of office space at No. 1 Spinningfields in Manchester.

The leading law firm agreed terms this week for 11,342sq ft across the 17th floor of the 19-storey building owned by Schroder Real Estate, with the rent at £37.50 per square foot.

Makoto Fukui, head of strategic partnerships at Schroder Real Estate said: “We are really pleased to add Fieldfisher to the No.1 Spinningfields community.

“Achieving this letting at a time of more general market uncertainty is testament to the quality of the building, our high standard of tenant services and the amenities both within No. 1 and the wider Spinningfields estate.”

Fieldfisher is a European law firm with over 1,000 professionals across 25 offices.

Schroders acquired No. 1 Spinningfields during construction from developer Allied London, with 13% of the office space remaining for lease.

In addition, the firm took a surrender of the 17th floor, which was leased to a business lounge operator, to achieve the new letting.  

The building is let to occupiers including PWC, Moneysupermarket and Northedge Capital.

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The acquisition of No.1 Spinningfields by a Schroders’-managed joint venture in 2017 was one of the largest single-asset trades recorded in the region, at around £200m.

Cushman & Wakefield and Norton Rose Fulbright advised Schroders on the deal.

Rob Yates, partner at Cushman & Wakefield said: “The level of amenity within the space, the 360-degree views of the city, best in class tech and Schroders’ continued investment into No.1 are all stand-out factors that make this a world class office location.”

Fieldfisher was represented by OBI.

Business Live – North West