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10/09/2019

Plans Submitted To Redevelop Former Manchester Bank

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A historic former bank in Manchester city centre has been eyed as a potential redevelopment opportunity for more office-led space.

Manchester's mixed-use neighbourhood NOMA has submitted plans to transform the Old Bank into an office scheme with mixed ground-floor retail, leisure and co-working space. 

These plans include the proposed construction of a new seven-storey extension to the rear of the Old Bank, allowing the creation of 83,000 sq ft of high-quality office space spread over six floors.

A revamped and enlarged ground floor will provide 6,900 sq ft of retail, leisure space spread over four units, as well as 2,600 sq ft of co-working space. The existing stairs, windows, lobby and former banking hall areas will be repaired and refurbished.

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Designed by Sheppard Robson, the redevelopment of Old Bank will also help better integrate the building into Sadler's Yard, Manchester's newest public square. 

The redevelopment will also see the Pilcrow project move into its next phase. The temporary wooden structure, which was designed with reuse in mind, will be moved and repurposed to elsewhere in the neighbourhood, while the team behind the pub operation is planning a new food and beverage offering, again within the NOMA neighbourhood.

As part of NOMA's commitment to community placemaking, The Old Bank Residency, a creative events space and 'Village Hall' will also evolve and move to a new location when redevelopment starts.

Hermes Investment Management is the investment manager of the NOMA development, working on behalf of an institutional investor, with development and asset manager MEPC taking forward the new-build elements of NOMA.

Stephen Bradley, senior asset manager at Hermes Investment Management, said: "We have made significant progress at the NOMA listed estate, carefully restoring Manchester's built heritage while also creating contemporary workspace that appeals to both major occupiers and SMEs. 

"Our plans for Old Bank will provide yet more much needed quality office space to support the city's growing economy and build on recent planning and construction activity across the whole NOMA neighbourhood."

(CM/JG)

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