Property News Feed
Manchester gets £100,000 office investment
14/10/2008
St Peter's Square in Manchester is about to get a new look.
The ink is drying on a new deal between property developers Argent and Greater Manchester Property Venture Fund (GMPVF), according to Crains Manchester Business.
A joint partnership would see a £100,000 investment in Elizabeth House for an office-led building and risk that has been spread.
Six-month rents have been already put on the market to generate revenue for the overhaul, Crains said.
A London-based firm Glenn Howells Architects has been asked to help design the scheme.
Planning should receive an application for the development early next year.
Argent was founded in 1981 and has been responsible for rejuvenating Piccadilly in Manchester.
The company specialises in developments that combine offices, hotels, shops, eateries and residential.
Fund manager to GMPVF Nick Whipp told Property Week: "These are unsettling times for many due to the current economic climate, but both the GMPVF and Argent, in contrast, have secure financial backing."
The development is next to Manchester's City Hall and central library, is expected to take around two years to complete.
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