Arm has signed a historic deal to lease three floors at a prominent Manchester office building.
This significant expansion aligns with Arm’s broader strategy to grow its footprint in the North of England.
A Landmark Deal
The agreement between Arm and Relentless Developments is noteworthy. Arm, a leading semiconductor and software design company, will occupy 68,860 sq ft across three floors of No.1 St Michael’s. This is the largest letting in Manchester in two years and marks a milestone for the £400m development project.
This strategic move from their current premises at 11 Portland Street to the more spacious and high-quality St Michael’s reflects Arm’s commitment to growth and innovation in the region.
St Michael’s Unique Offerings
No.1 St Michael’s is set to be the first fully Net Zero Carbon commercial development in Manchester, in both its operation and delivery phases. The building comprises nine floors of top-tier office space and features a Japanese-Peruvian rooftop restaurant. It is designed to meet exceptional standards in sustainability and wellbeing.
Joining Arm at St Michael’s will be other prestigious global brands, including S&P Global, Pinsent Masons, and Hill Dickinson.
Comments from Stakeholders
Gary Neville of Relentless Developments remarked on the significance of the deal. He highlighted that this is not only the largest letting for St Michael’s but also the largest in the city for the last two years. He stated, “This perfectly sums up the momentum that’s rapidly building here at St Michael’s as construction continues at pace.”
Gary Campbell, EVP, Central Engineering at Arm, said that the new space would further empower their team. “St. Michael’s not only brings a modern location with a rich heritage, but like Arm, prioritises sustainability and well-being,” he noted.
The relocation signifies Arm’s dedication to the Manchester community and underlines their focus on creating environments that support employee productivity and satisfaction.
Agents Involved
The transaction saw Will Lewis from OBI Property representing Arm. On the side of Relentless Developments, Joe Rigby from CBRE and Kuits Solicitors managed the deal.
Both parties contributed effectively to negotiate the terms and secure this noteworthy tenancy agreement.
Impact on Manchester’s Business Landscape
Arm’s move to No.1 St Michael’s is expected to have a positive impact on Manchester’s business environment. It underscores the city’s growing appeal as a hub for advanced technology and innovative companies.
The presence of such a prominent name in the tech industry will likely attract more investments and encourage further development in the area.
Future of No.1 St Michael’s
Construction at No.1 St Michael’s continues to progress rapidly. The building is envisioned to set new standards for office space in Manchester through its cutting-edge design and sustainability features.
Looking ahead, the successful leasing of three floors to Arm sets a promising tone for the remaining office spaces at the development.
Final Thoughts
The lease agreement between Arm and Relentless Developments is a landmark event in Manchester’s property market.
It signifies a step forward in the city’s evolution as a leading destination for top-tier businesses and sustainable commercial spaces.
Arm’s leasing of three floors at No.1 St Michael’s signifies a significant expansion in Manchester, underlining their growth strategy.
The presence of such a prestigious company will likely boost Manchester’s business landscape and attract further investments.
