Semiconductor giant Arm is set to enhance its presence in Manchester city centre, marking a significant development in the local commercial property market. The tech leader has secured a substantial office space as part of a strategic expansion.
Arm Secures Prime Location at St Michael’s
In a move signalling growth, Arm has acquired a 68,860 square feet office space at Gary Neville’s £400m St Michael’s development. This agreement, hailed as the largest office deal in the city for two years, underscores Manchester’s appeal as a business hub. Arm’s relocation from Portland Street highlights its dedication to expanding its footprint in northern England.
Key Features of No.1 St Michael’s
The nine-storey No.1 St Michael’s, slated to be Manchester’s first fully Net Zero Carbon commercial building, is set to offer an array of amenities. A standout feature includes a Japanese-Peruvian rooftop restaurant by Chotto Matte, which adds to the building’s allure.
Other notable organisations moving into St Michael’s include multinational firm S&P Global and prestigious law firms Pinsent Masons and Hill Dickinson, enhancing the site’s reputation as a prime corporate location.
Arm’s Strategic Growth and Sustainability Goals
Arm’s choice to relocate aligns with its strategic growth initiatives across 27 offices in 16 countries. The new site complements its global expansion plans, reinforcing its position as a leading tech innovator.
According to Gary Campbell, EVP at Arm, the new location reflects the company’s commitment to sustainability and employee well-being. The move is seen as a step towards fostering a workplace that inspires innovative achievements.
Relentless Developments, responsible for No.1 St Michael’s, stated: “The development is a symbol of momentum and progress, aiming to set new standards for eco-friendly commercial spaces.”
Comments from Key Stakeholders
Gary Neville, of Relentless Developments, expressed enthusiasm about Arm’s tenancy, emphasising the deal’s impact on city development. “This is more than just a rental agreement; it’s a major contribution to Manchester’s dynamics,” he remarked.
Arm’s executive leadership conveyed anticipation about integrating into Manchester’s vibrant business community. Their commitment to local engagement is central to their strategic vision.
The Role of Advisors in Finalising the Agreement
The negotiation process was facilitated by property leaders like Will Lewis from OBI Property, representing Arm, and Joe Rigby from CBRE for Relentless Developments. Legal advice was provided by Kuits Solicitors, ensuring robust deal structuring.
Such expert involvement highlights the complexity and significance of commercial property transactions in the current economic climate, reinforcing the importance of strategic real estate planning.
Implications for Manchester’s Commercial Property Market
The successful conclusion of this letting highlights Manchester’s thriving commercial property sector. It demonstrates continued demand from global leaders looking for expansion opportunities in the UK.
This landmark deal may potentially catalyse further investments, contributing to the regional economy and enhancing Manchester’s status as an appealing location for corporate headquarters.
The influx of such prestigious tenants becomes a benchmark for future commercial leases, showcasing the potential for growth in the city’s business landscape.
Future Prospects for St Michael’s Development
Looking ahead, No.1 St Michael’s is expected to attract additional high-profile tenants, contributing to a vibrant business ecosystem within Manchester.
The strategic combination of eco-conscious design and prime location positions St Michael’s as a desirable address for forward-thinking companies.
The development’s impact on urban growth and sustainability standards could serve as a model for future projects in metropolitan areas.
Arm’s move into No.1 St Michael’s marks a significant milestone for Manchester’s business community. This landmark occupation not only boosts the city’s commercial appeal but also underscores a commitment to sustainable growth.
