Lothbury Investment Management, on behalf of Lothbury Property Trust, has let the fourth floor at 4 Hardman Street in Manchester to McLaren Construction.
The established construction business has agreed a lease for 1,838 sq ft (171 sq m), having previously been located within the building on a sublease.
4 Hardman Street is located in Spinningfields, which is home to over 165 financial and commercial services organisations as well as luxury fashion brands, restaurants and bars. The transaction to McLaren comes following welcoming Banyan Bar & Kitchen on the ground floor and Prosperity Law within the offices during 2018.
Mike Toft, Senior Fund Manager and Director of Lothbury Investment Management, adds: “This is an excellent letting in a prime location. The rent achieved reflects the continued growth in Manchester’s office market. 4 Hardman Street benefits from smaller office plates than most other office buildings in Spinningfields so provides an excellent entry point for strong tenants who are seeking Grade A office space.”
Daniel Barnes, associate director in the office agency team at Savills, comments: “4 Hardman Street has received substantial refurbishment since Lothbury’s ownership. The commitment from McLaren and recent new occupiers to the building reflects the quality of space and the close proximity to the fantastic amenities that the area has to offer.”
Lothbury was represented by represented by Savills and Colliers International.
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Lothbury Investment Management Limited is the manager of the Lothbury Property Trust ("LPT") and the Lothbury Global Feeder LP ("LGF") (together, the “Funds”). LPT is a sub-fund of the Lothbury Global Institutional Funds, which is regulated by the Central Bank of Ireland. LGF was established as a limited partnership in Jersey under the Limited Partnerships (Jersey) Law 1994 through the filing of a declaration of limited partnership. The Funds are alternative investment funds (“AIFs”) for the purposes of the Alternative Investment Fund Managers Directive (2011/61/EU) (the “Directive”). LIM has been appointed and acts as alternative investment fund manager (“AIFM”) in respect of the AIFs. For these purposes, LIM is authorised and regulated in the United Kingdom by the Financial Conduct Authority for the purposes of managing unauthorised AIFs (and for various other activities). The Funds are also unregulated collective investment schemes for the purposes of the United Kingdom Financial Services and Markets Act 2000 (the “Act”).
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