Contractor GMI has kicked off construction work at 2 Stockport Exchange for developer Muse, a project which will see a 60,000 sq ft sister office to 1 Stockport Exchange built next to the town’s railway station.
Place North West first revealed GMI had been chosen as main contractor for the project last month, and the Leeds-headquartered contractor has now started works in earnest with a piling rig now on site.
The six-storey building, designed by architect Aedas, is the third phase of the wider £145m Stockport Exchange development and work is set to complete in February 2020.
It will act as a sister building to One Stockport Exchange, another office building which was completed by Eric Wright Group and fully-let within six months.
One Stockport Exchange is now home to Stagecoach and Music Magpie, with the former taking 33,000 sq ft over three floors and Music Magpie taking 10,000 sq ft.
The wider scheme, which will deliver around 375,000 sq ft of office space and 28,000 sq ft of retail floor space, already has outline planning approval. A 115-bed Holiday Inn Express has already been delivered by Eric Wright Group along with an NCP car park which was built by Morgan Sindall.
Further plots, including the town’s former Cineworld, have also been cleared for redevelopment. Cushman & Wakefield and CBRE are the joint agents for Stockport Exchange.
Matt Crompton, joint managing director at Muse Developments, said: “This is yet another significant milestone in the evolution of Stockport Exchange and it’s exciting to be
celebrating with our partners, Stockport Council, the start of construction on this latest scheme, which will complement the successful previous phases.
“This development will further reinforce Stockport Exchange as South Manchester’s new leading business location and we’re looking forward to seeing construction progress over the coming months.”
Cllr Kate Butler, cabinet member for economy and regeneration at Stockport Council said: “We’re ambitious for Stockport and the continuing development of a new commercial quarter at Stockport Exchange plays a major role in our whole town plan. Stockport Exchange is performing exceptionally well and we fully expect further success will follow with another, highly sought after building of Grade A office space at 2 Stockport Exchange.
“We’re proud of Stockport’s progress and our growing reputation for solid economic development; all cementing our position as one of the North West’s leading business locations.”