Schroder Real Estate Investment Management (“Schroders”) has agreed a new 10-year lease with dunnhumby UK at City Tower Manchester.
The global leader in Customer Data Science, whose clients include Kellogg’s, Tesco, Coca Cola, Nestle, P&G and Unilever, has taken 8,985 sq ft across the entire 23rd floor of City Tower.
The deal takes total income since the 2017 refurbishment of the 28-storey vertical business district to over £1.4 million.
Rob Cosslett, Investment Manager at Schroder Real Estate, said last year’s refurbishment of the Piccadilly Gardens-base tower was instrumental in dunnhumby renewing its lease.
He said: “It is really positive to see continued commitment of dunnhumby to City Tower.
“It is our long-term plan to continually enhance the offer at City Tower to meet the changing needs of the workforce. The signing of these new lease terms is testament to the quality of the offering post refurbishment and the level of available amenity that surrounds the building.”
Founded in 1989, dunnhumby is a global leader in customer data science, and empowers retail businesses and brands everywhere to thrive and compete in the modern data-driven economy.
Analysts use the power of data and insights – building innovative software using Cloud, Machine Learning and AI to create customer-first, personalised in-store, digital and mobile experiences.
Last year’s refurbishment of the Piccadilly-based tower saw the ground floor atrium and reception area transformed to incorporate a business lounge and formal meeting rooms, booths and additional retail units.
Renovation also included 36,400 sq ft of high quality office space across four floors as well as repositioning of the ground floor reception and lift lobbies throughout the building to support the 3,000 people who work in City Tower.
The refurbishment was designed to create a high-quality environment with the capacity to entertain and impress visitors, whilst also providing more relaxing areas for interacting with colleagues.
This news follows a raft of lease renewals late 2017, with tenants including popular coffee chain Starbucks and IT business solutions provider, Access Systems.
City Tower is owned in a joint venture held between Schroder Real Estate Investment Trust, the actively managed UK REIT, Schroder UK Real Estate Fund and Immobilien Europa Direkt.
Scott Shufflebottom, Associate Director at Colliers International, commented:
“dunnhumby are global leaders in their field and securing them as tenants for a further 10 years goes a long way to validate our strategy to reposition the asset and take advantage of the city centre’s rental growth, delivering strong returns.”
