Posted 11 March, 2013 OBI NEWS
OBI Property has recently advised leading debt purchasing and receivables management business Arrow Global on the expansion of their North West operation. The business continues to go from strength to strength and has expanded within Deka’s Grade A Belvedere building in Manchester city centre.
The transaction was complex as it involved existing tenant Altium relocating within the building to enable Arrow Global to expand into the vacant space – Arrow Global now occupy the entire sixth floor totaling 10,008 sq ft. CBRE, also tenants within the building, extended its demise taking an additional 447 sq ft. The deals were concluded at £30.00 per sq ft.
Will Lewis of OBI, who represented Arrow Global, adds: “Arrow Global has grown exponentially since it first took occupation at Belvedere 4 years ago and this deal enabled the company to almost double in size with minimum disruption and cost.”
OBI has also been appointed to undertake the interior design of the new office and is currently project managing the fit out works. Arrow Global hope to be in occupation during April this year.
Alex Russell, Associate Director of CBRE, comments: ‘This was a very complex transaction as it required simultaneous agreement from all three parties to ensure a successful outcome for all involved. We were delighted that we were able to successfully negotiate a deal, which suited everyone and is a testament to the exceptional offering of the building, reinforcing its position as one of the city’s prime office addresses.”