Property developer HBD (formerly Henry Boot Developments) has acquired a key site in Manchester’s St John’s district, purchasing The St John’s Centre from the LTE Group.
The site occupies a prominent location within the St Johns’ district, neighbouring major schemes including Bonded Warehouse and The Factory and bordering Spinningfields.
The Manchester College, part of The LTE Group, will remain in occupation for a further two years, during which time HBD will work up its redevelopment plans. The site will be completely overhauled to create a new commercial scheme; the final piece in the puzzle for the St John’s district.
Adam Brady, Executive Director at HBD, said: “The site has amazing development potential and offers us the chance to do something completely different for Manchester. We have the chance to rip up the rule book on how an office building should look, behave and function. This will be a completely new way of working.”
Dean Thompson, Director and Head of Region at HBD, said: “HBD has invested heavily in the city in recent years and will continue to do so – we benefit from a strong financial position, with the cash to invest in the right opportunities. This is an exciting addition to our pipeline in Manchester, and we look forward to progressing our plans for the site.”
HBD has several high-profile projects currently underway in Manchester city centre, including Kampus, Island Site, Equitable building and the regeneration of Deansgate station.
The developer has seven UK offices in Manchester, Sheffield, Leeds, Birmingham, Bristol, London and Glasgow. It boasts a diverse UK-wide portfolio including work space spaces and logistics through to residential innovation and award-winning heritage projects.
CBRE advised HBD, Cushman and Wakefield and Mills and Reeve advised The LTE Group.