MEPC, the specialist asset management and development arm of Federated Hermes, has announced the letting of its pioneering office building 4 Angel Square at NOMA, Manchester, to The Bank of New York Mellon Corporation (BNY ), the global financial services company and the oldest bank in the US.
BNY will be the single occupier of the 200,000 sq ft building – called “the most sustainable and smart enabled office” in Manchester city centre – representing the largest “Big 6” regional city deal since 2020.
In a major vote of confidence in the city, the global financial services company will be relocating its existing Manchester team from two other locations to 4 Angel Square by 2026.
BNY have agreed a long-term lease on the 10-storey, net zero operational carbon building, which has a Five Star NABERS Design for Performance rating, and a host of other stand-out credentials, including BREEAM Outstanding and a WiredScore Platinum rating, reinforcing its excellence in digital and telecommunications connectivity and a Two-Star rating from Fitwel, a prominent certification system for healthy buildings.
The building also has an A-rated Energy Performance Certification.
BNY will join the growing NOMA corporate community which already includes Amazon, The Co-op, ath-leisure company Adanola, Arcadis IBI Group and Material Source in a location which is home to food and music venue New Century and creative college dBs Institute as well as international coffee brand Allpress Espresso, independent brewery Cloudwater, and recently opened acclaimed fine dining restaurant Skof.
Paul Pavia, Commercial Director at MEPC said: “We are thrilled to be welcoming BNY to 4 Angel Square. The building’s outstanding sustainability credentials and state-of-the-art facilities will support them in meeting their focus on client and people experience.”
“At NOMA we take a people first approach, supporting communities for the long-term. BNY share our passion for community as well as creating meaningful social impact and we look forward to working with them in the years to come.
“With planning consent already in place for 2 and 3 Angel Square – the next two office buildings – NOMA is entering a new period of growth, as underlined by this landmark letting agreement, and we look forward to the future with confidence.”
Councillor Bev Craig, Leader of Manchester City Council, said: “In NOMA we have an exemplar, contemporary regeneration programme that has transformed this part of our city centre, and the next phases will build on an ethos that chimes with our own vision for Manchester – a highly sustainable, people-oriented investment approach that has long-term, lasting community at its core.
“The arrival of BNY shows the international renown in which this neighbourhood is held – and highlights the type of investor confidence that is helping Manchester to take our place as a significant global city, a place of sustainable growth and job creation, and importantly, a place of opportunity for our people and our communities.”
Andy Burnham, Mayor of Greater Manchester, said: “BNY’s new office represents a major investment in Greater Manchester and is fantastic news for our city-region. It shows we have the connectivity, liveability and access to talent to attract big international companies, bringing more jobs and opportunities for Greater Manchester residents.
“In March last year we visited BNY’s headquarters in New York as part of our Greater Manchester trade mission to North America, and we have welcomed their involvement in the MBacc, our flagship technical education initiative. I’m glad to see this longstanding partnership continue as Manchester is one of BNY’s strategic growth locations.”
Joe Manning, Managing Director of MIDAS, Greater Manchester’s inward investment agency, said: “We have built a great relationship with the BNY lasting some 30 years, and with Manchester being one of its global growth hubs is recognition that our city can deliver the talent, the connectivity and the community that global businesses require.”
Agent Peter Gallagher of Colliers, who acted for MEPC/ NOMA, said: “Manchester leads the regional ‘big six’ in average inward investment take-up for a reason – it has always offered large corporate occupiers plenty of options. However, that dynamic could be about to shift as we predict a scramble for what remaining space there is left in the city.
“Fortunately, the city remains well-positioned to accommodate the next wave of future growth and large corporate relocations, thanks to two fully designed and consented state-of-the-art Grade A office schemes offering over 310,000 sq. ft. at the next phase of NOMA. However, occupiers will need to start planning much earlier than they have become accustomed to.”
Chris Mulcahy, Director at JLL in Manchester, who acted for BNY: “Being able to acquire the whole of 4 Angel Square was a very rare opportunity that could not be missed and it’s down to the collaborative approach taken by the parties that made this happen.
“It’s a building within a growing neighbourhood with impressive sustainability credentials and cutting-edge design that make it the perfect new home for BNY. This allows our clients to plan their relocations from their existing buildings in the city and continue to grow their presence in Manchester.”