The 300,000 sq ft No1 Spinningfields, the final major part of Manchester’s key commercial district, has reached practical completion, with BAM Construction handing the building over to developer Allied London.
Having started on site in 2015, BAM delivered the tallest commercial building in the city within 106 weeks, meeting the PC target set.
Designed by SimpsonHaugh, No1 has secured a string of lettings prior to completion, with major pre-lets to PwC and Squire Patton Boggs being followed by more recent deals such as co-working operator WeWork, which signed for 60,000 sq ft in June.
High end restaurant operator D&D London agreed terms early in the scheme’s development, while the Pavillion, also under construction by BAM, will be home to the Ivy in Manchester.
More than 70% of the space within the 19-storey building has been taken, with deals on the remaining space said to be close. The building’s sale for a price exceeding £200m has been reported as being in the offing to Schroders, but Allied has refused to confirm anything at this stage.
Michael Ingall, Allied London chief executive, said: “We are delighted to reach what is a milestone for this project and also a great milestone for Spinningfields. Twenty years from start to finish, with 12 years of construction either side of a major economic financial crisis. The fact the development remained unscathed and has now completed is testament to the vision, design, and management.
“Spinningfields has achieved its vision and will now without doubt continue to sustain and develop as the corporate heartbeat of the city and continue to set a benchmark for the development of city centre commercial environments”.
SimposonHaugh partner Mark Savage added: “The Spinningfields regeneration project has created a thriving office-led, mixed-use district on the western edge of the city centre and No 1 Spinningfields is a fitting building to mark its completion.
“Conceived as a landmark office development with a strong architectural presence, it is a pleasure to see it come to fruition.”