Watch This Space has acquired the grade two-listed Bridgewater House and appointed Snook Architects to work up designs for its refurbishment.
Renaker sold the Manchester building for an undisclosed sum.
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“We look for projects that are interesting with growth potential,” said Watch This Space founder Michelle Rothwell.
“We’ll be working with specialist architects and conservation experts and will spend more money on restoring it than we would on a new build of the same size.
“We’re passionate that restoring buildings like this can only be a great thing for Manchester. It’s a challenge, but we love a challenge.”
Located between Renaker’s Crown Street and Deansgate Square developments, the 23,300 sq ft Georgian building was once the headquarters of the Manchester Ship Canal Company.
However, it has been derelict for the last 25 years.
Watch This Space plans to refurbish Bridgewater House but it is unclear at this stage whether it will be converted for residential or commercial use.
The developer has a track record for taking on restoration projects.
The company is currently redeveloping a derelict site on Richmond Street in Manchester’s Gay Village into eight townhouses.
Snook Architects is leading on the design of the project, too.
James Sidlow, senior development manager at Renaker Build, said: “We identified that Watch This Space were best placed to bring this forward given their track record and expertise.
“We look forward to seeing what Michelle has planned for this exciting element of the masterplan.”
Rothwell launched Watch This Space in 2016 and has. The estimated turnover for the business in 2021 is £9.5m, the company said.
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