ARM takes 69,000 sq ft at Manchester's St Michael's
One of the world’s leading microchip designers has signed the largest office deal in the city since the GPA leased 130,000 sq ft at First Street in 2022.
Arm has inked a 10-year lease on just shy of 70,000 sq ft at Relentless Developments and KKR’s No1 St Michael’s development in Manchester city centre.
The firm will relocate from a much smaller office – around 29,000 sq ft – at 11 Portland Street to 68,860 sq ft across three floors at St Michaels.
Arm will join S&P Global, flexible workspace provider Gilbanks, and law firms Pinsent Mason and Hill Dickinson in the building.
While previous deals at St Michael’s have set new record rents for the city, it is understood that Arm will not pay more than the £44/sq ft S&P will pay once the building compeltes.
Gary Neville, director at Relentless Developments, said: “This is an incredible deal with a hugely innovative, global leader in technology – not only is it our largest letting but it’s largest in the city for two years.
“This perfectly sums up the momentum that’s rapidly building here at St Michael’s as construction continues at pace. We’re looking forward to welcoming the team from Arm and being part of their future plans for growth.”
Gary Campbell, executive vice-president of central engineering at Arm, added: “Arm deeply values creating environments that empower our people to do their best work.
St. Michael’s not only brings a modern location with a rich heritage, but like Arm, prioritises sustainability and well-being. The Arm team looks forward to continued support of the Manchester community.”
OBI Property acted for Arm and CBRE acted for Relentless. Kuits Solicitors provided legal advice.
Designed by Hodder + Partners, No1 St Michael’s boasts 180,000 sq ft of offices across nine floors, as well as a rooftop restaurant from the Japanese-Peruvian Chotto Matte.
Offices are just one part of the St Michael’s project. The scheme, which is valued at £400m, also includes a second building: a residential-led skyscraper with a 162-bed W Hotel and 217 W Residences.
