David Partridge, joint chief executive of Argent, has launched the St Peter's Partnership at the Manchester stand at MIPIM today.
The partnership will work together and aim at shaping the vision for the future of the St Peter's Square area.
As tipped in Place in February, the launch of new partnership at the world's largest property fair is hoped to attract further investment from occupiers and funders. The partnership will ensure that the area moves forward as a major new business, leisure, retail and cultural district.
Partridge said: "St Peter's Square has the potential to become the premier district in Manchester, as well as an area for cultural activity both within the square itself and inside the refurbished Town Hall, Library and One St Peter's Square. The square is part of a rich network of public spaces in Manchester and the aim is to promote this currently underperforming square as an essential part of the urban fabric, similar to other successful areas such as Albert Square and Piccadilly Gardens."
Many buildings around St Peter's square are listed, including the Town Hall, the Town Hall extension, Central Library, the Midland Hotel, the former Free Trade Hall, the Great Northern complex and Manchester Central.
St Peter's Square is the subject of a new regeneration initiative by the city council and its partners.
The Central Library and Town Hall extension are to be refurbished over the next three to four years and Elisabeth House will be redeveloped by joint venture partners, Argent and the Greater Manchester Property Venture Fund.
Argent and the GMPVF received planning approval from Manchester City Council in February this year to transform Elisabeth House into One St Peter's Square (pictured), a new 270,000 sq ft office building, which holds a BREEAM excellent rating.