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Case Study

Largest Office Investment Deal Outside of London and South East

​JLL's Capital Markets teams based in London and Manchester advised M&G Real Estate on the acquisition of 500,000 sq ft of office space in Spinningfields, Manchester in a circa £320m deal. Based on lot size, this is the largest office investment transaction to ever complete outside London and the South East markets.

The 350,000 sq ft 1 Hardman Boulevard and the 150,000 sq ft 1 Spinningfields Square, both occupied by the Royal Bank of Scotland, were placed up for sale after the nominee companies that owned them on behalf of London investor Matrix went into administration.

The two grade A offices are leased in their entirety to RBS for a further 23 years.

Combined advice from our experts in London and Manchester together with specialist valuation advice gave M&G a distinct competitive advantage against the global equity chasing this transaction. This approach provided our client with the comfort to bid competitively and also gave the vendor confidence in our ability to conclude the transaction.

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