Aberdeen Asset Management acting on behalf of retained clients has submitted a planning application in the prime business core of Manchester for the redevelopment of a 1960’s office block currently known as 40 Fountain Street.
The existing building represents one of the few true prime redevelopment opportunities available in the commercial heart of the city.
The new eight-storey building totalling 86,000 sq ft net has been designed by architects AHR to revitalise this large island site and provide much needed Grade A-plus office accommodation to the central business district.
The new building, which will be renamed as 11 York Street, is designed to meet the requirements of a broad cross section of a target market identified as primarily the commercial, professional and financial services office sector including occupiers already located nearby that wish to trade up into better performing, more efficient floor space.
With large floor plates of up to 11,700 sq ft, the building is designed to accommodate high density use of both a single user and an occupier needing just one floor, and everything between including part floor splits.
If approved stunning glass, stone and steel elevations, a double storey entrance prominently situated on the corner of York Street and Fountain Street and a private business lounge as part of the reception facility for tenants will maximise the impact of the scheme.
Two further ground floor units suitable for either retailing or coffee shop/restaurant use, a basement car park for 25 vehicles and comprehensive storage, showering and changing facilities for cycle users will complete a building designed to fully meet the needs of today’s business.
Edward Amery, senior asset manager at Aberdeen Asset Management, said:
“We have been evolving the right development proposal for this asset for some time now. It is a prime site in an important part of the city centre where there are a number of listed buildings nearby. We have worked with the various stakeholders to ensure that we are bringing forward new development proposals that combine the very best of contemporary design with the architectural heritage of the area.”
The Manchester office of real estate advisors Colliers International has been appointed as development consultant and sole letting agent for the scheme.
Peter Gallagher, director, national offices at Colliers International Manchester, said:
“The uptick in grade A take-up, the looming lack of supply and choice and the number of good quality occupiers who will be faced with lease events in the next 36 months makes this the ideal time to bring this scheme forward. We are confident we will attract occupiers who are looking for the very best new accommodation in Manchester.”