Virgin Media O2 has committed to a decade-long lease in one of Manchester’s newest architectural ventures, the Island building.
This strategic move will consolidate multiple regional offices into a centralised northern hub, enhancing operational efficiency and workplace collaboration.
Key Details of the Lease
Virgin Media O2 will occupy five floors, equating to 45,700 square feet, in the prestigious Island building, strategically positioning itself in Manchester’s bustling city centre. This agreement, spanning ten years, signifies a robust commitment to the region, taking up approximately 50% of the available office space within the building.
The Island is a £66 million development, a collaborative effort between Henry Boot Developments and the Greater Manchester Pension Fund. It stands as a beacon of modern infrastructure with its construction managed by HBD under a 50/50 joint venture since 2019.
Design and Environmental Ambitions
Scheduled for completion by October 2024, the Island will offer 91,000 square feet of prime workspace over nine floors. The development boasts impressive sustainability credentials, aiming for BREEAM ‘Excellent’ and EPC A ratings. This pursuit underscores the building’s dedication to environmental responsibility.
HBD has partnered with the Building Research Establishment to implement a 5-star NABERS Design for Performance Agreement. This initiative is aimed at further reducing energy consumption potentially beyond the standard, towards an aspirational 5.5-star rating.
Virgin Media O2’s Strategic Consolidation
Virgin Media O2 is set to relocate several regional branches into this singular northern hub. This relocation will encompass various teams, including specialised customer service agents.
The new headquarters will not only centralise operations but also aim to improve the employee experience significantly.
Virgin Media O2’s Chief Financial Officer, Patricia Cobian, emphasised the importance of providing a vibrant working environment that meets current needs and attracts future talent. She noted the environmental features and accessibility of the location as key factors in the decision-making process.
Community and Economic Impact
The establishment of Virgin Media O2’s headquarters in Manchester aligns with regional growth plans. Mayor Andy Burnham welcomes this initiative as it supports the city’s net-zero carbon goals and exemplifies the attractive investment landscape of Greater Manchester. This move promises to inject vitality and opportunity into the local economy.
This multi-million pound endeavour fortifies Manchester’s reputation as an inviting environment for business investments.
Partnerships and Collaborations
Tim Roberts, CEO of Henry Boot, praised the joint venture with GMPF as pivotal in delivering an outstanding office space. He highlighted the significance of sustainable office solutions in attracting top talent and fostering tenant satisfaction.
Ed Hutchinson, Managing Director at HBD, reiterated the alignment of Island’s design principles with Virgin Media O2’s values. The building prioritises health and well-being, making it an optimal choice for forward-thinking companies.
Future Prospects for Island
Interest in the remaining office spaces continues to grow, with potential occupants eager to join Virgin Media O2 in this innovative environment. This surge in interest highlights the appeal of Island’s state-of-the-art facilities.
OBI represented Island in the leasing process, ensuring a seamless arrangement for Virgin Media O2 to secure their desired space.
With the building nearing completion, Island is set to become a cornerstone of modern business infrastructure in Manchester.
Conclusion
Virgin Media O2’s move to the Island building marks a significant development in Manchester’s commercial landscape. The company’s investment underscores Manchester’s status as a thriving economic hub.
Island is poised to be a flagship of sustainable and innovative office solutions, attracting progressive businesses.
Virgin Media O2’s strategic relocation to Island in Manchester exemplifies a commitment to environmental sustainability and operational excellence.
With advanced facilities and significant economic contributions, this move heralds a new chapter for urban business environments in the region.