Real estate fund manager Prupim has submitted a planning application to demolish and rebuild Brazennose House.
As quality office supply dwindles in Manchester city centre developers are vying to deliver the next wave of new stock. Among the frontrunners are Allied London, understood to have raised finance for a new block in Spinningfields, and a joint venture of Argent and Greater Manchester Property Venture Fund with the proposed One St Peter's Square.
Prupim plans 150,000 sq ft of office space at Brazennose House, on Lincoln Square off Deansgate, over 3,600 sq ft of retail and 4,800 sq ft of restaurant space at ground floor level. The new building is designed by London-based architects Squire & Partners.
There will also be a new public square fronting St Mary's Church, with views of the church opened up by the 'cutting back of the building from its current footprint', Prupim said.
Prupim is delivering the project on behalf of the building's owners, the Prudential Assurance Company. Prupim also redeveloped the Arndale Centre on behalf of the same client.
William Rooke, development manager at Prupim, said: "This site provides yet another jigsaw piece in support of the city's regeneration strategy and inward investment objectives. The influx of some 1,250 new employees in the redeveloped Brazennose House will have a hugely positive regenerative effect on this important commercial area; the area is now looking tired and has, to a certain extent, evolved predominantly into a through-route.
"As well as meeting the next wave of demand for prime office space and headquarters for corporate occupiers in the city centre, this area will be reinvigorated by much-needed improvements to the public realm of Lincoln Square and with the new piazza. We want to create a destination for business, fitting for the scheme's prime city centre location."
The planning application was submitted by Drivers Jonas Deloitte following consultation with local businesses and St Mary's Church undertaken by GL Hearn's new strategic communications team.
Manchester City Council is expected to decide on the application in autumn 2011. Subject to approval, demolition could begin in spring 2012 with completion anticipated around summer 2014.