North West Square | Grant Thornton moves in as Landmark refinances

ADT Workplace worked with accounting on its new basis. Credit: via Influent

Neil tag

Accounting completed its move to the Oxford Street office in Manchester, as building owner Barings refinanced the building with LaSalle Investment Management on a loan of £ 57.5million.

In January of this year, it was revealed that GT had agreed to terms on approximately 14,000 square feet at the 180,000 square foot Landmark, allowing the company to accommodate its team on one floor as it moved from Hardman Square, Spinningfields.

GT accepted a 15-year lease on a location which was decided by a staff vote, from a shortlist of three.

The company said the new open-plan space is focused on its hybrid work policy. It offers a range of diverse workspaces, including standing and sitting desks, collaboration spaces, and private cabins, which equates to 240 flexible and bookable workspaces. The firm has 350 collaborators attached to the office.

ADT Workplace delivered the project. Features include soundproof cabins, full-length balconies, tech-equipped meeting rooms, a multi-faith room, and a social space named in memory of a deceased Grant Thornton employee.

Carl Williams, Practice Manager for Grant Thornton in the Northwest, said: “At Grant Thornton, we understand that while the world of work has changed over the past 18 months, the office still has a fundamental role to play. play to attract the best talent and nurture the career development of our employees.

“Having the team located on the same floor, something we didn’t have before, was really important to us. This will facilitate collaboration between our colleagues, clients and intermediaries. “

Iconic barings

The 14-story Landmark completed in 2020

Barings Real Estate has revised its arrangements to support its current ownership of the development, on the former Odeon site.

LaSalle has provided a three-year £ 57.5million senior loan to support the building’s ownership, refinancing existing borrowings.

Since its delivery in 2020, the building has also become the home of occupying companies, including JLL, Allianz and HSBC, which have signed up for 10,300 square feet of flexible space managed by Hana.

Richard Craddock, Managing Director of LaSalle’s Debt Investment Platform, said: “We remain strong supporters of the office sector, particularly for assets with best-in-class ESG credentials located in key markets such as Landmark ”.

The loan was made as part of LaSalle’s € 1.0 billion senior loan program, which provides senior secured “on-balance sheet” real estate loans without the need for syndication or loan-to-loan financing.

Daniel Köhler, Head of Real Estate Treasury for Europe at Barings added: “We are delighted to have secured funding from LaSalle’s Debt Investments platform as we continue to deliver on our ambition for Landmark to set a new benchmark. for top-notch, sustainable offices. space in Manchester.

The LaSalle Debt Investments platform has more than € 4 billion in lending capacity, the company said.

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