The Co-operative Group has finally confirmed the open secret that it will build a new headquarters on its own land in Manchester city centre.
The new 400,000 sq ft HQ will be built on Miller Street on land currently used as a car park near the group's existing base.
The property community in Manchester has watched on with thinly veiled amusement as the Co-op went through a search for a site around Greater Manchester boroughs to build updated offices, strongly suspecting all along it would build on its own land rather than pay to acquire a new site.
Manchester City Council also committed £20m to make sure the Co-op and its 3,000 employees stayed in the city.
The Co-op will vacate half a dozen buildings to relocate to the 400,000 sq ft offices in 2011.
Jones Lang LaSalle advised the Co-op.