Design image released in March when building changed hands

Credit Suisse reviews Overseas House as Bruntwood exits

Bruntwood has decided not to continue as development manager on Overseas House in Manchester’s Deansgate for new owner Credit Suisse. The scheme will now be taken forward for the investment bank by Cushman & Wakefield.

A spokesman for Bruntwood said: “Due to our extensive development pipeline including the recent acquisitions of Alderley Park and the former BBC site as well as bringing forward other key developments in Manchester we have agreed with Credit Suisse that they would continue to work with their acquisition team to deliver the proposed scheme. We will however remain involved in the scheme for a period of time whilst we undertake an extensive handover to facilitate the transition.”

Cushman & Wakefield acted for Credit Suisse when it acquired the corner site on Quay Street and Deansgate for £12.5m from Bruntwood in March this year. At the time of the acquisition Credit Suisse said the building would be renamed Cornerblock and the vacant upper office floors would be remodelled by Bridge Architects. Cushman & Wakefield will now review the proposed redevelopment before appointing a detailed design team and contractor.

Overseas House contains 61,400 sq ft over seven floors. The ground floor is occupied by Tesco, Sainsbury’s and Starbucks.

No one at Bruntwood was immediately available for comment.

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Really surprised by whatever’s happening here. Seemed a perfect, low-risk, easy-return “bruntwood refurb job” in an ideal location. Why are they changing a business model that’s worked so well for them for so long?

By Quay Street Pete