Victoria College Secures Prime Space at Bridgewater House
Deal News | Dec 02, 2024 | Catella Real Estate AG
Catella Real Estate AG, through its subsidiary Catella APAM, has finalized a 16-year lease agreement with Victoria College of Art and Design to occupy the 5th floor of Bridgewater House. The lease covers a 20,034 sq. ft. space with an annual rent of £26 per sq. ft. Bridgewater House, offering 180,000 sq. ft. of office space across 10 floors, provides modern amenities including a café, a business lounge, and enhanced facilities for cyclists and showers. Recently refurbished, the site is set to unveil an additional 20,000 sq. ft. of renovated space on its 4th floor in the upcoming year. The lease has been viewed positively by stakeholders, including Catella APAM and Savills, recognizing the building's blend of traditional and modern features as ideal for creative organizations. Savills and Edwards & Co have collaborated as joint letting agents to facilitate this transaction.
Sectors
- Real Estate
- Education
- Property Management
Geography
- United Kingdom – Location of Bridgewater House and the focus of the leasing activity described in the article.
Industry
- Real Estate – The primary industry involved as the article discusses a real estate lease transaction at Bridgewater House.
- Education – Relevant due to Victoria College of Art and Design, an educational institution, being a tenant in the lease agreement.
- Property Management – Involved through Catella APAM's role in securing the lease and managing the leasing process at Bridgewater House.
Financials
- £26 per sq. ft. – Annual rent for the leased space at Bridgewater House.
- 16-year – Duration of the lease agreement with Victoria College of Art and Design.
- 20,034 sq. ft. – Size of the space leased to Victoria College of Art and Design.
- 180,000 sq. ft. – Total office space available at Bridgewater House.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Catella Real Estate AG | Parent Company | Company | The parent company of Catella APAM, involved in the lease agreement. |
| Catella APAM | Property Manager/Leasing Agent | Company | Responsible for securing the lease agreement with Victoria College of Art and Design. |
| Victoria College of Art and Design | Tenant | Company | Education institution securing a lease for space in Bridgewater House. |
| Bridgewater House | Property | Property | Office building where the lease has been secured. |
| Savills | Joint Letting Agent | Company | Joint letting agent responsible for facilitating the lease agreement. |
| Edwards & Co | Joint Letting Agent | Company | Joint letting agent responsible for facilitating the lease agreement. |
| William Grenfell | Associate Director | Person | Associate Director at Catella APAM involved in the transaction. |
| Daniel Barnes | Office Agency Director | Person | Office Agency Director at Savills Manchester who commented on the transaction. |