Posted 3 July, 2018 OBI NEWS
Today OBI announced media agency, Republic of Media has expanded its office space in 26 Cross Street, Manchester M2 7AQ. The letting follows the recent acquisition of 26 Cross Street where OBI advised Ventnor Group on the £11.5 million deal representing a yield of 5.5%.
Republic of Media has taken the whole fifth floor (2,830 sq ft) on a five year lease. The agency has also has an office in Edinburgh.
Hugh MacLaren, finance director, Republic of Media said: “It has been a great experience to work in 26 Cross Street, our team needed a larger office space to accommodate our expansion plans, and we think the building is perfect for us. With Manchester’s talent pool on our door step and a great working environment, we look forward to continue growing our team here.”
OBI is the sole leasing agent on 26 Cross Street after representing Ventnor on the building acquisition.
Debbie Meredith, Transactions and Asset Management, OBI, said: “26 Cross Street’s location in the heart of Manchester and its easy access to major transport links play a crucial role in accelerating businesses growth. The building offers contemporary open plan office space and it is fantastic to know Republic of Media is confirming its expansion in the building so soon after taking occupation. With the last remaining suite under offer to a new occupier we hope to announce the building fully let soon.”
26 Cross Street is the second building purchased by Ventnor in Manchester having bought Kabel House on Quay Street for £7 million last October.
Will Lewis, Transactions and Asset Management, OBI Property said: “We’ve worked successfully with Ventnor in the past on buildings where asset management strategies can be carefully implemented and 26 Cross Street is another great opportunity for us to add real value.