Merlin Claims takes space at 9 Portland Street

MCR Property Group has let 8,820 square feet at 9 Portland Street to Merlin Claims.

CB Richard Ellis secured the deal for owners MCR who bought the building in 2006. The joint letting agent was WHR. The deal was secured on a quote of £18 per square foot and Merlins Claims will join Volker Rail who have already leased 2,655 square feet in the newly refurbished building. Formerly known as Magnum House, 9 Portland Street was previously occupied by GMPTE before it’s relocation to Argent’s Piccadilly Place. The building consists of 55,000 square feet of Grade-A air conditioned office space and was re-opened this April following the refurbishment.

Will Kennon, Senior Surveyor for Office Agency at CBRE North West, said; “The deal represents one of the largest lettings of refurbished office accommodation within the city in 2009.”

The signing comes after a difficult few months for MCR Property Group. Last month the group, based in Manchester, were forced to put part of it’s property portfolio into receivership after West Bromich Building Society acted on the breach of loan covenants. The company, which is owned by Aneel Mussarat, said in a statement it was “disappointed” by the building society’s decision to appoint Law of Property Act receivers and said it came as “a complete surprise”.

In other news, Stripes Solicitors has signed for 6,421 square feet at Catalyst Capital’s Ship Canal House at 98 King Street in Manchester’s business district. The deal was secured on a 10 year lease at £24 per square feet and will see the law firm move from their existing base on John Dalton Street. Fortis Bank and Liverpool Victoria Insurance are already tenants in the building. CBRE and GVA Grimley are joint letting agents on Ship Canal House.

Despite these deals and a few other recent office lettings in Manchester, experts predict the total office lettings in the city centre will be 600,000 square feet by the end of the month – 40% down on 2006 and 2007.

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