Stagecoach signs up to new scheme in Stockport
THE BUS OPERATOR PLANS TO RELOCATE AROUND 200 ROLES FROM ITS EXISTING BASE
STAGECOACH, the bus operator, is to take 33,000 sq ft of space in Stockport as office occupiers face being priced out of Manchester city centre.
Muse Developments and Stockport council have completed a lease with bus operator Stagecoach to take three floors at the recently completed One Stockport-Exchange.
Stagecoach has signed up to a 15-year lease for 33,000 sq ft at the recently completed 50,000 sq ft office building.
The company – Britain’s largest bus operator – plans to relocate around 200 roles from its existing Stockport base and elsewhere in the country to the new offices by the end of the year.
A further letting for the remaining office space is due to be signed soon. Manchester-based Muse Developments is delivering the £145m Stockport Exchange regeneration scheme, located next to Stockport train station, in partnership with Stockport council.
Top office rents in Manchester are already hovering around £34£35 a sq ft, with senior figures projecting it will top £40 a sq ft within two years.
Businesses seeking new office space are looking at lower-cost options including Stockport where rents can be up to a third lower.
One Stockport Exchange is part of the second phase of development at the Stockport Exchange scheme.
The project has also delivered a 115-bed Holiday Inn Express and new pedestrianised public space, creating a new attractive gateway to the town centre.
The road layout in the area has also been reconfigured improving access to the station, providing a dedicated drop-off facility and a new taxi rank.
Wes Erlam, development director at Muse, said: “This letting is great news for Stockport Exchange and the wider town centre.
“We are in advanced discussions to lease the final floor of the offices which would result in a fully let building only six months after completion.”
Mark Haberfield, managing director of Stagecoach Services, said: “As our business requirements have expanded over the years, we have outgrown our current offices so it is great to have found suitable premises in Stockport.
“The new offices will provide a better working environment for staff, improved facilities and an environment which is better suited to the needs of our business.”