Bruntwood is aiming to complete Didsbury Technology Park, featuring more than 155,000 sq ft of office space, by 2020 after securing a £3.3m loan from the North West Evergreen Fund.
Bruntwood is working with Manchester City Council, Siemens, and PJ Livesey to deliver the project on nine acres of the Siemens Campus off Princess Road.
The loan will be used to support the first phase, featuring a 20,000 sq ft office building designed by architect Sheppard Robson, which is being built by contractor North Midland. Featuring floor plates of up to 7,000 sq ft, the building is being marketed by Cushman & Wakefield and JLL.
The first phase also features 92 homes, which are being delivered by housebuilder PJ Livesey, and both the office and the housing are due to complete by spring 2019.
Later phases are set to include three more buildings; a second phase features a five-storey office of 75,000 sq ft, alongside a 426-space multi-storey car park; while the third phase is a four-storey office building of 60,000 sq ft.
A masterplan for the site was approved in 2015, while detailed plans for phase one were given the green light in March 2017.
The North West Evergreen Fund and Evergreen 2 are loan funds supported by the 2014 to 2020 European Regional Development Fund, and are managed by CBRE’s investment advisory team.
The Evergreen fund for Didsbury Technology Park is the second of its type Bruntwood has secured this year, after it was awarded a loan of £18.5m from Evergreen 2 and the North West Evergreen Fund in March to support the delivery of Citylabs 2.0, a 92,000 sq ft laboratory and office facility.
Bruntwood sales director Andrew Butterworth said: “This funding support offers a tangible indication of the level of public sector confidence in the project and the role it will play in boosting the wider region’s capability in this sector. The loan will allow us to press ahead with the delivery of the first phase of development and we expect the entire site to be developed and occupied by 2020.
“A collaborative and cohesive vision has enabled close working with our project partners throughout the development plans for the site.
“We look forward to seeing this culture of collaboration and open innovation continue to thrive at Didsbury Technology Park as it becomes home to clusters of high-growth, science and technology businesses which will have a real impact at both a local level and on the wider regional economy.”