Northern Group has been selected by the North West Development Agency as the preferred developer to transform the building in Ancoats, east Manchester, into Grade A office, nursery and gym space.
The 40,000 sq ft former mill workers' hostel is a NWDA site located at the corner of Hood Street and Murray Street in the heart of Ancoats urban village.
The Victorian property is set across five floors and will undergo a two-phase redevelopment to create a mixed use scheme.
The first phase will see of Jactin House itself with the creation of office accommodation for start-up and medium sized businesses, as little as one or two person. A gym, swimming pool, and space for a café/deli will be installed in the basement and lower floors.
Urban regeneration company, New East Manchester, said the second phase proposes a new-build with large floor plates and will provide the only Grade A office space in the area.
Office suites will have private terraces and air conditioning systems will be replaced with sustainable heating and cooling technologies. NEM said the plans will remain adaptive to market demands and also feature a nursery, car parking and duplex residential space.
Nathan Ezair, Northern Group director, said: "We have successfully operated business spaces within the area for the past 10 years and the majority of the companies that locate to Ancoats love it here. The space we offer has more character than other buildings, it is generally cheaper and we offer plentiful car parking provision too. The problem lies where businesses outgrow their offices and want larger provision – we don't want to see Ancoats lose them so we came up with a solution.
Northern Group, which is based in the Ancoats area, has already renovated commercial and residential buildings within the Ancoats Village conservation area.
The firm completed the 136-apartment Flint Glass Wharf last year and are nearing completion on the historic Ice Plant, on Cutting Room Square, which will deliver 82 apartments in the coming weeks.