M&G’s £39m Fountain Street overhaul to progress
A project that will see the demolition and rebuild of Hill Dickinson’s 34,000 sq ft Manchester office has been tipped for approval by the city council’s planning team.
Designed by Jon Matthews Architects and being led by Ask Real Estate, M&G’s proposed redevelopment of 50 Fountain Street involves the retention of the original Victorian façade.
The rest of the building will be knocked down to pave the way for the creation of a modern 55,000 sq ft seven-storey office.
“The proposal would have a positive impact on the regeneration of this part of the city centre,” a report by the city council’s planning officers states.
In addition, Manchester’s planners claim the redevelopment of 50 Fountain Street would “contribute to the supply of grade A office accommodation, provide significant investment in the city centre, and create both direct and indirect employment”.
The scheme has a net development value of £39.3m and will cost £34.1m to build, according to a viability assessment by CBRE. This represents a developer profit of £5.1m.
Hill Dickinson occupies the grade two-listed building at present. The law firm’s lease expires in April 2024.
Ask was appointed as M&G’s development partner for the project earlier this year.
Construction firm Bam is lined up as main contractor for the project, according to a construction management plan submitted with the planning application.
Renaissance is the structural engineer, Ridge is the M&E engineer, and Stephen Levrant: Heritage Architecture is advising on heritage.
Cundall, Planit-IE, DFC, Cundall, Gardiner & Theobald are also advising on air quality, landscape, fire and cost.
Read about the other projects in line to be consented when Manchester City Council’s planning committee meets next week.