Office Supply Boost for Manchester
While speculative developments have remained firmly on hold during the wake of the recession, Manchester would appear to be following in the footsteps of Central London by raising its head above the parapet and addressing the diminishing supply of grade ΓÇÿAΓÇÖ office space.
Although the physical development of the site will not begin until the scheme has reached a pre-let level of 50%, this signal of intend suggests a growing confidence in the commercial office market of Manchester City Centre, as Dorrien Thomas of AXA Real Estate explained to TheBusinessDesk.com:
ΓÇ£Receipt of planning consent at St PeterΓÇÖs Square means that we can now push ahead in earnest with marketing this new well-located Grade A office space in the middle of ManchesterΓÇÖs central business district.ΓÇ¥
Once underway the ┬ú50m development would replace Peterloo House, which consists of 40,000 sq. ft. of office space over seven floors, with a 12 storey 108,000 sq. ft. building providing grade ΓÇÿaΓÇÖ office space capable of housing around 800 employees.
ΓÇ£In recent years Manchester has firmly established itself as EnglandΓÇÖs premier business location outside of London and we are confident that the new developmentΓÇÖs prime city location, together with the quality of space on offer, will make it an ideal destination for local, national or international businesses wanting office accommodation or a headquarters in Manchester.ΓÇ¥
Having worked closely with Manchester City Council, the scheme will incorporate design features that will allow the new development to blend into the existing architecture of St PeterΓÇÖs Square. The office space on offer at the Manchester scheme will also seek to secure a BREEAM rating of excellent.
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