AXA Real Estate Investment Managers announces that it has received planning consent for a £50-million (approx. 56-million) office development in Manchester's St Peter's Square. AXA Real Estate manages the property on behalf of Manchester-based insurance firm, the Co-operative Insurance Society Ltd (CIS), which owns the building.
Situated on Dickinson Street in Manchester's central business district and fronting onto St Peter's Square, the new building, which has been designed by architects Squire and Partners, will provide accommodation for around 800 employees.
Construction is expected to commence once around 50% of the building has been pre-let. WHR Property Consultants and CBRE have been appointed as agents to secure prospective tenants. The new building has been designed to highly sustainable standards and will target a BREEAM 'Excellent' rating. It will also feature an impressive Palazzo style facade, incorporating copper trimmings to keeping it in line with the surrounding architecture.
Commenting on the development, Dorrien Thomas, UK Head of Asset Management at AXA Real Estate, said: "Receipt of planning consent at St Peter's Square means that we can now push ahead in earnest with marketing this new well-located grade-A office space in the middle of Manchester's central business district.
"We have worked closely with Manchester City Council over recent months to ensure that the project fulfilled all the requirements we felt were necessary to attract businesses into the scheme but also provided the perfect complement to the Council's wider regeneration plans for the area."
"In recent years Manchester has firmly established itself as England's premier business location outside of London and we are confident that the new development's 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."