Today OBI announced Raisin UK, the online savings platform, has acquired 4,187 sq ft on the fourth floor at Cobden House, 12-16 Mosley Street, Manchester on a five year lease at £20.00 per sq ft.
Raisin UK is the British arm of leading European deposit marketplace raisin.com. Raisin was established in Berlin in 2013 and has grown to be one of Europe’s leading financial technology (FinTech) businesses, with over €11 billion of savings deposits processed and more than 160,000 customers across Europe.
The UK marketplace launched in 2018, with offices at Rational House on Bridge Street, Manchester and the team of 26 is moving into larger space at Cobden House due to the exponential growth of the business, which is set to continue into 2019 and beyond.
Kevin Mountford, Chief Executive Officer at Raisin UK said: “The space efficient 4,187 sq ft floorplate benefited from a substantial refurbishment giving us peace of mind when investing in our own fit-out. We wanted to ensure that the business delivered a high-quality workspace for our staff and the specification and location of Cobden House has facilitated just that.”
OBI represented Raisin UK on the deal and Cushman & Wakefield and Canning O’Neill acted for the landlord Orbit.
Andrew Cowell, transactions and asset management, OBI said: “Raisin UK is a fantastic example of the strength and depth of the tech sector in Manchester. Having already outgrown the offices they launched in last year, we know Cobden House will be an excellent base for them.”
Adam Jackson, Orbit said: “We’ve recently completed a substantial refurbishment of Cobden House and to attract a high calibre FinTech occupier so soon is a real coup. We are pleased to welcome Raisin UK to the building.”
Cobden House was designed by architect Edward Walters for Richard Cobden’s calico printing business in 1839. Today, Cobden House is owned by Orbit Developments and has received a substantial refurbishment to all common areas and office floors with the replacement of M + E services to include new air conditioning enabling occupancy of 1:6 sq m, new passenger lift, new WC’s, Showers and Cycle Hub. Three floors now remain with each providing approximately 4,500 sq ft.