The Homes and Communities Agency (HCA) has completed the purchase of 10,000 sq ft of ground floor commercial space at the NUOVO Apartments building on Great Ancoats Street.
The purchase follows the HCA’s recent acquisition of 60,000 sq ft of mixed commercial space at Royal Mills and the Fairbairn Building, both in Ancoats.
The HCA has announced that it will now start work to deliver a major £1.2m package of fit out and upgrade investment across its estate aimed at attracting a mix of new business tenants. F Parkinson Ltd has been selected as preferred contractor and GVA have been appointed as sole letting agents.
Marie Hodgson, Head of Area for Greater Manchester at the HCA, commented: “Through the Manchester Place initiative, Ancoats is rapidly becoming one of the city’s most dynamic commercial and residential destinations.
“It’s great to see that demand for business accommodation in Ancoats is growing, and by improving and upgrading our space at Royal Mills, Fairbairn and NUOVO we’re confident of being able to attract a high quality mix of new businesses to the area”.
GVA indicated that the space would be ideally suited to a variety of business types, including offices occupiers, retailers, bars operators and restaurateurs.
Chris Nutter, surveyor in the Retail, Hotels and Leisure agency team in GVA’s Manchester office, expects interest in the HCA’s latest purchase to be particularly strong.
Chris commented “Not only does NUOVO have an immediate audience from its 166 apartments, the building enjoys excellent proximity to the vibrant Northern Quarter and Ancoats areas, and to the City Centre itself.”
“The development is able to draw on a huge residential and business catchment – and the scheme’s location on the Great Ancoats Street link road also provides excellent opportunities for passing trade.
“We believe that the refurbished units would be perfect for upmarket food stores and other convenience retail operators.”
Work by F Parkinson Ltd will start on site at Royal Mills, Fairbairn and NUOVO in March and is expected to reach completion in June 2015.
