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Wednesday, 26 February

Auto Trader Trades Places

First Street, Manchester’s flagship city centre redevelopment project, hit top gear following the completion of a major letting to Auto Trader which completes its relocation in May to bring 600 staff from seven different locations in to one brand spanking new office location.

Fit-out of the space includes four cars and two vans into the building’s workspace. The lease is for 15 years.

Number One First Street, the existing Grade A office building on Ask Developments’ 3millionsq.ft mixed use development at First Street, is now almost two-thirds let following the Auto Trader deal.

Auto Trader will be joining engineering services provider Jacobs and digital marketing consultancy Amaze in Number One First Street. Jacobs signed a 10 year lease agreement to take 23,526sq.ft and will complete its move to First Street in June 2014.

 

Talent spotting

Trevor Mather, CEO at Auto Trader said: “Auto Trader is making a considerable investment to ensure that the employee offering matches up to the brand ambition. With the planned amenities at First Street and the cultural and leisure opportunities that Manchester offers, we are confident we can continue to grow the business and bring in the best UK talent.”

John Hughes, Managing Director of Ask Developments, commented: “Our existing building will soon be part of a new cultural neighbourhood, anchored by HOME, the merged Cornerhouse and Library Theatre Company, a project which represents £75m of investment in offices, restaurants, retail, leisure and residential space.

“First Street’s City Centre location, transport links, access to a skilled labour force and rents at a substantial discount to the central business district were a major factor in Auto Trader’s decision to relocate from an out of town location. This is evidence of the growing trend of the urbanisation of office occupiers and reinforces our strategy to target businesses that historically preferred out of town locations.”

Number One First Street totals 180,000sq.ft of Grade A BREEAM Excellent office space.

Ask Developments was advised in the Auto Trader deal by the Manchester teams of Savills and CBRE. Dunlop Heywood and Matthews & Goodman advised Auto Trader.

Article written by Brian Shillibeer

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