- New 11-storey office building will be the first proposed speculative development at NOMA, a 20-acre mixed-use neighbourhood in central Manchester and leading ‘innovation district’
- Over 200,000 sq. ft. of Grade A office space to be created alongside new areas of public realm, providing a framework for future development of the master-plan
- Scheme highlights MEPC’s continued confidence in the Manchester market, a view supported by the investment manager, Hermes Investment Management
MEPC has unveiled plans for its latest office project at NOMA, as they seek to capitalise on soaring demand for high quality office space in Manchester.
Named 4 Angel Square, the new 11-storey office building will sit on the corner of Corporation Street and Miller Street and is NOMA’s first speculative new build office development.
The city broke a new record for office take-up in 2018 according to the Manchester Office Agents Forum, which predicts another strong year of occupier demand in 2019 as major employers look to tap into the growing pool of talent.
Designed by Manchester-based architects SimpsonHaugh, the new Grade-A office building will bring over 2,000 new workers into the 20-acre neighbourhood, joining the community of businesses, residents and creatives who have already made NOMA their home.
In addition to providing 200,000 sq. ft. of premium office space, shops or restaurants will be provided on the ground floor and new public realm as part of a much-improved link to One Angel Square, which will be crucial to unlocking the other new-build development opportunities.
A consultation event is being held at the Old Bank Residency, on Hanover Street, on Thursday 21 March from 3pm to 7:30pm, where visitors will be able to view the plans and talk to members of the team.
Paul Pavia, head of development at MEPC, said: “Off the back of significant investment in the listed estate, NOMA continues to go from strength to strength and we are excited to bring forward these proposals for a high quality commercial development on such a prominent site, which we intend to develop speculatively, underlining our continued confidence in Manchester as a city.
“As part of 4 Angel Square, we will be creating an extensive area of new high quality public realm on what is currently surface car parking plus bar and restaurant space at ground floor to bring life to this area. We have a clear vision and aspiration to provide physical and visual connection between this part of NOMA and the listed estate and Sadler’s Yard.”
The unveiling of the new-build office development follows recent commitments to invest in the extensive refurbishment of Redfern, a Grade II listed former warehouse and office building, which is being redeveloped into contemporary workspace
Construction work at Dantzic, another listed building being transformed into modern offices, is due to complete in Spring this year while the first apartments in Angel Gardens, a 35-storey tower by build-to-rent developer Moda Living, will be available for rent this summer.
Meanwhile global tech giant Amazon announced last year it would be opening the company’s first UK headquarters outside of London at Hanover, another recently renovated listed building at NOMA.
In total, NOMA will provide 2.5 million sq. ft. of both new-build and renovated office space situated alongside housing, public realm as well as retail and leisure opportunities.
NOMA has been tipped as one of the UK’s first ‘innovation districts’ by the Brookings Institute, a leading US think-tank, thanks to the scheme’s mix of high-quality office space and housing, both seen as crucial to helping drive Manchester’s future growth.
Peter Gallagher, director at Colliers, said: “Manchester is booming and needs high quality new office space like 4 Angel Square to sustain its growth and help the city remain competitive and attractive to major occupiers on both a domestic and global scale.”
James Devany, director at JLL, said: “There is pent up demand for high quality office space demand in Manchester and projects such as 4 Angel Square will be crucial to meeting this demand while also helping expand the city centre.”
Hermes Investment Management is the investment manager of NOMA, working on behalf of an institutional investor, with MEPC appointed as development manager.