Angelo, Gordon & Co, the American fund manager, together with its joint venture partner, Dunedin Property, is set to undertake a further £1m refurbishment of Manchester city centre offices, Churchgate and Lee House.
Fit-out firm Bluu and interior design practice Space Invader have been appointed to create a new extended reception.
The joint venture partners acquired the two buildings, which are situated on the corner of Oxford Street and Great Bridgewater Street, from CBRE Global Investors last year.
The 250,000 sq ft office buildings are well let with tenants including Greater Manchester Chamber of Commerce, Economic Solutions and London School of Business & Finance.
Anuj Mittal, European portfolio manager of Angelo Gordon, said: "These buildings were an exciting acquisition for us, they form an integral part of our long-term investment portfolio. Our decision to carry out this latest refurbishment of the reception areas reinforces our commitment to improving the offering of these landmark buildings. We are confident that bluu, who have already undertake substantial works on our behalf will deliver an end product that will further enhance the building. We have an excellent team, including our appointed agents CBRE and GVA, working to bring an exciting and competitive product to the market."
Alex Russell, associate director of CBRE, said: "Last year's take-up was dominated by buildings quoting between £15/sq ft and £20/sq ft with occupiers recognising good quality refurbished product at a sensible price. When the works are completed in the spring, Churchgate and Lee House will offer exactly this with the added benefit of providing large and efficient floor plates catering perfectly for the demand that we expect to continue throughout 2013."
CBRE's engineering team is managing the mechanical and electrical services for the refurbishment.