Benson Elliot, the private equity real estate fund manager, plans to spend £500,000 refurbishing 55 Princess Street offices in central Manchester.
The 57,000 sq ft building near the town hall will have revamped common areas, reception and vacant floors designed by 5plus Architects. The building was completed in 2008 and is 36% let.
Richard Lace, associate director at OBI Property, joint letting agent on 55 Princess Street with Jones Lang LaSalle, said: "The refurbishment works at 55 Princess Street will provide occupiers with office accommodation of the highest quality, at a time when grade A space in Manchester city centre is difficult to find. Rents will be kept at a competitive level and this should ensure that it appeals to a range of different occupiers."
Greg Ball, director at Jones Lang LaSalle added "With the major investment in the public realm at St Peter's Square, the refurbishment of the Town Hall and Public Library, 55 Princess Street is located in one of the most exciting areas of Manchester city centre. We look forward to seeing the new reception take shape and welcoming new occupiers to the building in the near future."
The refurbishment work is due to be completed in early 2014.