From triple glazing to modern air conditioning, the positive impacts of our retrofits on a multi-tenanted, older building are clear. Sustainable retrofitting has helped us maintain a premium on rentals, increase tenant footfall, and decrease energy consumption.
Director, Manchester International Office Centre
Manchester International Office Centre (MIOC) – managed by Till Asset Management - is a 100,000 sq. ft building originally constructed in 1954. Initially designed for a single tenant in the aerospace industry – and to double as a field hospital during the Cold War – the building has evolved over time and now houses around 50 tenants in office units of varying sizes. To future-proof the property and maintain its value, Till Asset Management, has implemented a series of strategic retrofit upgrades focused on decarbonisation.
The impact of these efforts has been clear. We’ve maintained a premium on rental rates and increased footfall, reflecting higher tenant satisfaction. Energy consumption has decreased, and occupancy rates have remained strong. Without these upgrades, the building’s value would likely have dropped, particularly given the growing importance of sustainability in the real estate sector.
Director, Manchester International Office Centre
Working with Barclays
The project was guided by a strong collaborative approach. Till Asset Management worked with Barclays Corporate Banking, who provided financing structures to support the retrofit of this project, and broader sustainability goals. Till Asset Management has effectively navigated the complexities of retrofitting a multi-tenanted, older building while maintaining both financial and environmental sustainability in a rapidly evolving market.
Here at Barclays, we recognise the complexity of embarking on a sustainable retrofit journey and are here to help. Find out how we could support your business’ transition.
To discuss your business requirements and how Barclays can support you, contact us today.
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