Bruntwood SciTech is close to signing Auto Trader for 100,000 sq ft of office space at 3 Circle Square in Manchester.
The digital automotive marketplace is negotiating a 10-year lease at around £40 per sq ft, according to market sources.
Auto Trader has a lease break approaching this year at its existing base at Abrdn’s 1 Tony Wilson Place on First Street. It signed for 60,000 sq ft on a 15-year lease at the premises a decade ago after consolidating its seven sites in the North West, relocating 600 staff.
Earlier this year, the company indicated it was looking for new, larger premises to occupy from 2026.
Bruntwood SciTech broke ground on 3 Circle Square in July last year. The 267,000 sq ft office tower consists of 15 floors of workspace dedicated to occupiers in the science and technology sectors.
The building, designed by Bridge Architects, will include ground-floor retail and leisure space, as well as a communal lounge, events space and a roof terrace.
It is aiming to achieve net zero embodied carbon during construction and BREEAM Excellent status, a NABERS five-star rating and an EPC A rating once operational. The developer expects to complete the scheme in Q1 2025.
The building forms a part of the wider masterplan, featuring 1 and 2 Circle Square, which are fully occupied by tenants including Disney’s streaming business, Roku, and AutoCab, which has been acquired by Uber and Octopus Energy.
Bruntwood SciTech is a 50/50 joint venture between Bruntwood, Greater Manchester Pensions Fund and Legal & General.
GL Hearn is advising Auto Trader. JLL is the retained leasing agent for Circle Square, while Shoosmiths is providing legal advice. All parties declined to comment.
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Image from Bruntwood SciTech
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