Grey (Space) Days Ahead? RBS Offloads 150K SF At Spinningfield
The problem of "grey space" that bedevils some parts of the London office market could be heading to Manchester.
The bank said the move makes sense because it has 5,200 desks in the two buildings, but 3,900 staff, according to the Manchester Evening News.
The block was sold to M&G Real Estate in 2014 for £320M.
Grey space is a large invisible but nonetheless serious problem in some parts of the London office market, particularly in Canary Wharf. It will mean additional competition for the new speculative blocks reaching the market — not least No 1 Spinningfield, developed by Allied London which were also developers at One Spinningfield Square.