Barings Leases Additional Floor to Vanguard at Landmark, Manchester
Barings, one of the world’s largest diversified real estate investment managers, has accommodated the growth of global investment firm Vanguard with the leasing of an additional floor at its Landmark office development on St Peter’s Square in Manchester City Centre. The latest deal leaves just one floor available for occupation within the 180,000 sq ft flagship office building.
In March 2023, Vanguard announced its plans to expand its UK footprint with the opening of an office in Manchester, having agreed a 10-year lease for the 14,013 sq ft, 7th floor at Barings’ Landmark office development. The move represented the first UK office outside of London for Vanguard, which has more than 1000 staff working across its European offices.
Approximately one year after announcing its entry into Manchester, Vanguard has agreed a lease for the 14,041 sq ft 6th floor to tie in with their 10 year term on the 7th floor, taking its total space at Landmark to over 28,000 sq ft.
Citing Manchester’s strong talent pool as a key driver for selection in the initial search, the city has become one of Vanguard’s fastest growing markets and provides an excellent base for accommodating extra capacity to serve its wider European business.
The news follows the recent announcement that Barings has leased the 13,228 sq ft 12th floor at Landmark to international law firm, DAC Beachcroft who is relocating from 3 Hardman Square in Spinningfields.
Only the 4th floor, comprising 14,058 sq ft, is available for occupation in Landmark, whose impressive tenant roster includes; HSBC UK, JP Morgan Chase & Co, Allianz Insurance, Grant Thornton, JLL, DAC Beachcroft, Vanguard, Starling Bank, Santander UK, RSM and Xero. Barings credits the securing of multiple global occupiers to Landmark’s technological infrastructure, sustainability, well-being and customer experience which have proven to be high on occupier criteria.
Key features at Landmark include contactless technologies enabling touch-free movement within the building, a dedicated cycle storage and maintenance hub, high-quality showers and changing facilities, electric car charging spaces and Amazon lockers for package delivery and returns which all add to the offering at the EPC A, BREEAM Excellent and Wired Score Platinum development.
Ian Mayhew, Managing Director, UK Asset management at Barings, said: “For a global investment firm such as Vanguard to select Manchester as its first UK office outside of London and then be doubling its space just over 12 months later is fantastic news on many levels. We are delighted that our provision at Landmark has created the right environment for growth and it is exciting to see an occupier flourish within the building. With keen interest in the remaining floor, we are looking forward to achieving full occupation of Landmark.”
Leasing agents for Barings on Landmark are JLL, CBRE and Colliers. Vanguard was advised by JLL.
Barings Real Estate
Barings Real Estate (BRE) is a part of Barings and offers a broad range of global investment opportunities across the private debt and equity investment markets. BRE invests in all major property sectors and offers an expansive range of financing solutions to real estate borrowers. Follow us on LinkedIn at linkedin.com/showcase/barings-alternative-investments.
About Barings
Barings is a $406+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment.
*As of March 31, 2024
Landmark
Landmark Manchester is a prime office development in St Peter’s Square. Landmark provides 180,000 sq. ft. of Grade A, BREEAM Excellent, modern and flexible office space over 14 floors with a mixture of retail and leisure business opportunities on the ground floor. Designed by world renowned Architects Squire & Partners, the development offers next generation office space, delivering a professional environment that is both impressive and bold as well as efficient and well-connected.
For media enquiries please contact
Faye Binns at Space PR on 0161 669 7200 / 07793 401 579 or via email at faye@spacepr.co.uk
Sarah Einig, Head of European Media Relations, Barings, +44 (0)207 214 1780, Sarah.Einig@barings.com
