Savills to manage the XYZ building

Savills to manage the XYZ building

Savills has been chosen to manage the new XYZ building in the Spinningfields area of Manchester city centre.

The international real estate adviser has been appointed to the project by Union Investment.

Allied London's XYZ office development spans more than 160,000 sq ft and features cafes, restaurants, meeting spaces and leisure facilities. The building is scheduled to open towards the end of 2016.

Savills will be managing the building of seven floors, one of which comprises 20,000 sq ft of new enterprise space for innovation companies and start-ups in the fintech industry known as the Vault.

Global Radio, Shoosmiths and the NCC Group have all been confirmed as office tenants of the XYZ building, while Drake & Morgan will open a restaurant and UP Fitness will operate a gym.

Tim Bretten, European director of property management at Savills, said: "XYZ is a landmark building for Manchester's business community and we very much support  the vision of developer Allied London to create an environment where there is a dynamic, collaborative approach to enterprise.

"Through the strategic property management of the building, we are confident that XYZ and the Vault will become a thriving hub for innovation and entrepreneurial spirit in the north."

Savills currently manages properties for Union Investment across Europe, including in the Netherlands and France. Savills also advised Union Investment on the acquisition of the XYZ building.

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