First look at No8 First Street in Manchester
Progress at No8 First Street continues to gain momentum and PATRIZIA UK has now unveiled a series of new images following a significant surge in occupier interest.
The 173,600 sq ft Grade A office building, which is being delivered by a joint venture between PATRIZIA UK and GMPVF, will feature unique, double-height winter gardens at each alternate corner which will be lit at night as well as large, column-free floor plates and a spacious reception area.
Work on the building, which faces onto Tony Wilson Place, the new public square at First Street, has been progressing rapidly since the recent topping out ceremony and it continues to take shape this week with the installation of the exterior cladding.
In addition, a series of new leisure outlets have opened across the First Street estate this month attracting further interest from occupiers, as well as new visitors during the busy day and evening trading periods. Operators that have recently opened include the award-winning The Liquor Store and The Gasworks Brewbar with Laundrette due to open on December 5th.
A bespoke marketing suite for No 8 has opened this week and a series of occupier and agents tours will take place before Christmas. PATRIZIA has already secured the pre-let of c.50,000 sq ft of space to global energy company Gazprom and the remaining 106,000 sq ft of office space is available to occupiers looking to relocate to this vibrant leisure and business environment.
Dan Williams, Head of Development at PATRIZIA UK, said: "Progress on No8 is gathering pace and it's already clear to see how impressive this seven-storey office development will be when it completes next year. No8 will be a key part of the 20-acre First Street site and new occupiers will be joining an impressive line-up of high profile companies including AutoTrader, Ford Credit Bank, Jacobs Engineering and Amaze, which together employ over 2,000 people. First Street is establishing itself as a key destination in the city of Manchester."
Savills and Bilfinger GVA are instructed as joint agents on the building which is due for completion in September 2017.
No8 has been forward-funded by Greater Manchester Property Fund (GMPVF) in a joint venture with PATRIZIA UK, while Manchester-based developers Ask Real Estate Limited (AREL) is development manager for the scheme alongside the Main Contractor, Carillion Construction.
First Street was acquired by PATRIZIA from Ask in May 2015. It is an attractive destination for residents of Manchester through its extensive retail and leisure offer, with tenants including The Liquor Store and The Gasworks Brewbar, as well as the Indian Tiffin Room, Sainsbury's, Q-Park, Starbucks, INNSIDE Hotel and the cultural arts venue HOME. In addition to this leisure offer, First Street is also home to a number of office tenants including Auto Trader, Ford Credit Europe, Jacobs and Amaze, and in June 2016 received planning permission from Manchester City Council for the development of 624 Build to Rent units.
GMPVF is a £500m property development fund for the north west of England. It forms part of the GM Pension Fund, the largest local authority Pension Fund in England, with assets in excess of £18 bn.