Royal London pushes on with One New York Street revamp
Advised by Canning O’Neill and CBRE, Royal London is pressing forward with a £500,000 upgrade after purchasing the 113,000 sq ft office in Manchester city centre for £55m last year.
Having purchased the 15-storey building on the corner of Mosley Street from Invesco Real Estate in December, Royal London has now started work on a comprehensive remodelling of the building’s reception and communal areas.
There are currently 11 occupiers at the building including Aecom, Mills & Reeve, and Turley, while around 15,000 sq ft still remains at the building across the third, ninth, and eleventh floors. Quoting rent ranges from £25/sq ft to £34/sq ft, and each floor is home to 9,000 sq ft.
Completed in 2009 for Bruntwood and designed by Denton Corker Marshall, One New York Street was sold to Invesco in 2012 for £42m.
Canning O’Neill and CBRE will market the office alongside asset manager Howlings Hodgson, and Canning O’Neill director James Dickinson said he expected there to be “a high level of interest” in the remaining space.
Following its sale of the office, Invesco retains interests in the North West, and is funding the £35m first phase of the Outwood Wharf scheme in Salford, where developer Endeavour is delivering 263 build-to-rent apartments and townhouses.