Royal London Asset Management has appointed Property Alliance Group to review redevelopment plans for No3 St Peter’s Square, Manchester.
Manchester-based developer investor Alliance has been instructed by RLAM as development partner on the vacant office block. Planning consent was granted in May for a 105,000 sq ft office designed by Squire & Partners.
Other uses will now be considered including hotel and residential as well as returning to the office scheme. RLAM took control of the site as part of the property portfolio transferred in-house from previous manager AXA Real Estate earlier this year.
Previously known as Peterloo House, the existing vacant 1970s seven-storey building off the city’s civic square is next to Argent and Greater Manchester Property Venture Fund’s 273,000 sq ft No1 St Peter’s Square.
Also next door, No2 St Peter’s Square is currently under construction for Deutsche Asset & Wealth Management to provide 160,000 sq ft of offices.
Dominic Pozzoni, director of Alliance, said: “No3 St Peter’s Square provides a fantastic redevelopment opportunity, perfectly situated to benefit from the significant investment in the immediate locality which has included Manchester City Council’s £185m redevelopment of the square, Library Walk, Central Library and Town Hall Extension. Alliance has a wealth of experience across all sectors and a track record for identifying the best use, delivering high quality designed award winning developments and maximising value to all assets. St Peter’s Square provides world class public space at the very heart of the City and we are investigating a number of exciting opportunities for the site which we expect to conclude shortly.”
Further announcements are expected before the end of the year.
Colliers International and CBRE are joint agents.