Clearbell UK Strategic Trust Signs American Express Global Business Travel to 5,422-Square-Foot Lease at Manchester's Freetrade Building

American Express Global Business Travel has signed a five-year lease for 5,422 square feet at the Freetrade Building on Peter Street in Manchester city centre, Clearbell UK Strategic Trust announced. The tenant, which provides software and services for travel, expense, and meetings and events management, moved into the third-floor space in July 2026. JLL represented Clearbell UK Strategic Trust in the transaction, while CBRE acted on behalf of American Express Global Business Travel.

A Consolidation Move for a Long-Standing Manchester Presence

American Express Global Business Travel has maintained a presence in Manchester for more than 15 years, most recently operating from offices at Piccadilly Place. The move to the Freetrade Building consolidates the company's local team into a purpose-designed environment on the building's third floor, which has been fully fitted and furnished while retaining the building's EPC A specification. The company cited the workspace as aligned with its continued investment in its Manchester technology workforce.

"Manchester has established itself as one of the UK's most dynamic technology hubs. We wanted a workspace that matches the ambition and energy of Amex GBT. This new space is designed to help our growing team do their best work," said Sophie Davies, Head of HR UK & Ireland at American Express Global Business Travel.

Freetrade Building: A Grade II Listed Retrofit to EPC A

The Freetrade Building is a Victorian, Grade II listed structure totalling approximately 36,000 square feet across five floors of office workspace, situated close to Manchester Town Hall and St Peter's Square. Clearbell UK Strategic Trust — a trust advised by Clearbell Capital — acquired the building from CBRE Global Investors for £9.84 million in 2021 with a plan to reposition the asset through comprehensive refurbishment.

Extensive retrofitting was completed in 2024, bringing the building to an EPC A rating. The workspace floors are now heated by air source heat pumps, powered by renewable energy sources, and benefit from rooftop solar panels. The reception area features a living wall designed to enhance air quality and occupant wellbeing. Tenant amenities include common breakout areas, secure bike parking, showers and changing facilities, a gym, yoga studio, and sauna.

The refurbishment was carried out as part of Clearbell's stated approach of embedding ESG principles into its investment strategy.

Near-Full Occupancy With One Floor Remaining

The American Express Global Business Travel letting follows earlier signings at the Freetrade Building by Nine Chambers (Chambers of Christopher Kennedy KC), Aptia, and Zurich Insurance. With those four tenants now in place, only the fifth floor — extending to 4,390 square feet — remains available, making it the final vacant floor in the building.

Fit-out works for the fifth floor are scheduled to commence following planning and listed building approvals. That space will include an external terrace wrapping around three sides of the floor for the exclusive use of its future occupier, in addition to access to the building's full amenity offering.

"Amex GBT's decision to consolidate their 15-year Manchester presence at Freetrade is a strong endorsement of the workspace we've created. It shows that established businesses are actively seeking out the combination of heritage, modern amenities and sustainability credentials that Freetrade offers. With just one floor remaining, we're pleased to have attracted occupiers who share our commitment to creating workplaces that support both people and the environment," said Ben Tolhurst, Asset Management Director at Clearbell Capital.

Market Context: Grade A Demand in Manchester's City Centre

The Freetrade Building letting reflects a broader pattern in Manchester's central office market, where corporate and technology occupiers have been consolidating into highly amenitised, sustainability-credentialed space. The building's EPC A rating, wellness infrastructure, and heritage character position it within a segment of the Manchester CBD office stock that has seen strong occupier demand as businesses prioritise workspace quality and environmental performance.

For Clearbell UK Strategic Trust, the transaction advances the value-add business plan established at acquisition: repositioning a Grade II listed Victorian building through capital investment into a near-fully leased asset with a diversified tenant base spanning legal, insurance, technology services, and corporate travel sectors.

Sources

Clearbell Capital — Clearbell welcomes Amex GBT to Freetrade Building, Manchester (August 25, 2026)