M&G progresses Manchester office revamp 

Having acquired the building for close to £50m last year, the investor has lodged plans to modernise the 104,000 sq ft 58 Mosley Street. 

M&G’s scheme will see the seven-storey Manchester office building comprehensively refurbished to bring it in line with the requirements of modern occupiers. 

Other elements of the project include the creation of a rooftop amenity space, relocating the entrance from Mosley Street to Booth Street, and the addition of a gym and bike store in the basement. 

In terms of sustainability, the project team is targeting a five-star NABERS rating, BREEAM outstanding accreditation, and a minimum EPC B. 

NJL Consulting is advising on planning and JM Architects is leading on design.

M&G bought the building from New Ireland Assurance for £49m last summer, reflecting a net initial yield of 5.5%.  

Around 70,000 sq ft of the building is occupied by Slater & Gordon, which moved in in 2014 after the previous tenant – rival law firm Corbetts – went into administration.  

The remaining office space, around 33,000 sq ft, is sublet to workplace consultancy Instant Group.  

To learn more about the proposals, search for reference number 135988/FO/2023 on Manchester City Council’s planning portal. 

58 Mosley Street is the latest office in Manchester’s central business district to be earmarked for an upgrade. 

Last week, Zurich Insurance submitted plans to overhaul the 70,000 sq ft 35 Fountain Street once the building’s only tenant, Booking.com, completes its relocation to Manchester Goods Yard.   

Hill Dickinson’s 50 Fountain Street base is also the subject of redevelopment proposals. With the law firm’s tenancy due to expire next year. M&G, in partnership with Ask, lodged plans to demolish and rebuild the office. 

Also, nearby, Bruntwood Works won approval last year to revamp the former bank at 38-42 Mosley Street into an office scheme called Bond.