The collaboration of three teams from national commercial property advisers Matthews & Goodman has resulted in the successful letting of 274 Deansgate Manchester to real time communication IT company Parker Software.
Based in Stoke-on-Trent, Parker Software sought to expand to Manchester due to growth of the business across the North West. They have committed to the ground floor of the building for a term of five years.
Matthews & Goodman’s national business space team acted on behalf of private investor, Shefford Ltd & Daytona Ltd in securing the letting. As part of the transactional process, Matthews & Goodman’s building consultancy team was brought on board to refurbish and project manage the accommodation.
Building surveyor Laurence Hyland commented, “To ensure the financial viability of the letting for the landlord and the desirability and functionality of the suite for the tenant, we were able to engineer a cost effective yet attractive refurbishment solution that met the requirements of both parties. We also ensured the swift organisation and completion of the works to meet the tenant’s relocation timescales”.
Having managed the building for a number of years, Matthews & Goodman’s property management team were also involved in bringing this letting to fruition. When occupancy levels dropped in 2014 the team undertook to drive down the holding costs of the property, which was achieved by means of altering the reception and access points to the building and changing the security provisions from manned security guard to security systems monitoring.
Management surveyor Alex Whilde commented, “Having invested approximately £45k on these improvements we have been able to reduce service charge running costs from £220,490pa (£8.16 psf) in 2012 to £80,880pa (£3.29 psf) in the current year. Not only have we made the building more attractive to potential tenants but have also made the running costs more sustainable for them too.”
Commenting on the expansion, Howard Williams, Marketing Director at Parker Software said, “Manchester is a city with a thriving tech scene that’s rapidly becoming a hub for digital creativity. Expanding into a region that’s well known for technical innovation and identifying some of the great talent that can be found there is an important next step for our continued growth.
“While it is important for us to keep our local roots, it has always been our aim to remain at the forefront of digital communications by continuing to reinvest profits back into the business. These new offices will enable us to put these plans in motion and commit to further improving our product and service offering in the UK and abroad".