Hermes appoints MEPC to guide next phase of NOMA

22 January 2018 11:55 Comments (0)

Hermes Investment Management has appointed MEPC as development manager at NOMA, the 20-acre neighbourhood in Manchester.

Hermes was previously delivering NOMA in a 50:50 joint venture with the Co-op Group, but bought out the Co-op’s share for an undisclosed sum in December.

The primary focus for MEPC will be the implementation of projects in the £800m masterplan for the mixed-use regeneration area, which includes plans for five new buildings around One Angel Square.

Hermes and MEPC have previously worked as development partners in the region, on the 120-acre Birchwood Park in Warrington, which was sold to Oaktree and Patrizia in 2014.

Chris Taylor, head of private markets at Hermes Investment Management said: “The decision to appoint MEPC as developer at NOMA is in line with our long-term strategy for the development; to create a leading commercial hub in the heart of Manchester.

“We are confident that MEPC will bring its expertise and strong track record from other leading regional developments including Wellington Place in Leeds, and continue to develop a scheme which embraces the area’s past and heritage by featuring a unique mix of historic and new buildings. We hope to provide an attractive, well-connected and sustainable environment where people want to work, live and socialise.”