The latest owner of 24 Mount Street in Manchester is preparing to submit a planning application for the redevelopment of the 48,000 sq ft office, scaling back plans approved under previous ownership from 175,000 sq ft to an 80,000 sq ft scheme.
Titan Investors sold the building, formerly London Scottish House, to Fore Partnerships at the end of last year for £13m. Titan had gained planning permission in 2014 for a 175,000 sq ft redevelopment designed by Eric Parry, to be known as the Assembly building. In turn, when Titan bought the office from the National Asset Management Agency and Walls Developments in 2012, the site had been earmarked for a 220,000 sq ft tower.
Working with architect TP Bennett, Fore said that its plans for 24 Mount Street are to create “high quality, sustainable offices geared towards offering future occupiers flexibility, forward thinking work spaces and a collaborative environment”.
24 Mount Street is in Manchester’s Civic Quarter, next to the Midland Hotel, and the Manchester Conference Centre. Plans for the building include offices, a mix of retail and food outlets on the ground floor, a roof terrace and improvements to the public realm.
Basil Demeroutis, managing partner of Fore, said: “The proposal represents a fantastic opportunity to redevelop and regenerate an out-moded and underutilised 1970s office building.
“For the last seven years 24 Mount Street has sat empty, neither playing its part in the economic life of the city nor contributing successfully to the local environment.
“Our plans are different to the scheme that was previously approved for this site. However, we are confident that FORE’s proposal offers a financially viable alternative, that is fully funded and in keeping with the buildings in the immediate vicinity.
“Redeveloping the existing building will also bring highly sought after Grade A office space to the market so much quicker.”
Last month Fore reopened the office for use as artist workspaces and studios, until work starts on the redevelopment. The planning application is to be submitted by the end of June, and construction is due to begin at the end of this year.
Fore is a pan-European real estate investment platform for family offices and private investors.
An information event is being held today at 24 Mount Street between 3.30-7pm, for the public to view the plans and find out more about the proposal.