Patrizia has submitted a planning application for a 220,000 sq ft mixed-use block at First Street, part of the 1m sq ft wider development at its newly-acquired 20-acre Manchester site.
The building is earmarked for the plot immediately to the west of Number One First Street, which is currently grassland.
Designed by Fletcher Priest Architects, the seven-storey Number 6 First Street will include 187,600 sq ft of offices and 32,000 sq ft of retail units.
Global energy company Gazprom signed for a 40,000 sq ft office pre-let within the building earlier this year, and will occupy the fifth and sixth floors.
The block will have access southwards onto a landscaped area designed by Planit IE.
Subject to planning, construction on the site is expected to commence in October 2015 with completion due in summer 2017.
The 20-acre First Street was sold by developer Ask in an off market deal to European real estate investment company Patrizia Immobilien AG in May for an undisclosed sum. Ask will now act as the local development partner for the site.
The acquisition was formally completed this week. According to a statement from Patrizia, the fund will now look to develop up to 1m sq ft of space and 550 private rental apartments. The PRS scheme will form the foundation of Patrizia’s plans for a dedicated UK PRS fund.
Deloitte Real Estate advised on the planning application for Number 6 First Street.