The Hard Hat Hi-Vis tour: NOMA
A new regular feature where we get a guided tour around a North West development hot spot with the people making the changes.
Where are we? NOMA, the are to the NOrth of MAnchester city centre.
Where’s that? Situated between Angel Meadows, the city centre’s largest park and its main shopping and leisure destination – the Manchester Arndale Centre and Exchange Square – and two major transport hubs – Manchester Victoria Station and the Shudehill Transport Interchange, bounded by Miller Street, Angel Street and Corporation Street.
Ah, NOMA. I see what you did there. Who are we with? Dan Hyde, development director at MEPC.
What’s been happening? It’s one of those areas of Manchester city, surrounded by development – new buildings rising above Victoria station, constructors arriving on site at FEC’s site further towards Ancoats. You look up and new glass towers appear everywhere.
4 Angel Square
What’s it consist of? The whole of the 20 acre NOMA estate comprises 19 assets, the majority of which are now owned by Federated Hermes, a long-term investor with a vision to create a vibrant commercially-led, mixed-use neighbourhood. We’re here to have a look at 4 Angel Square, which has is now ready for occupiers to look around.
What’s so special about this site? Sustainability. In a nutshell, from the moment the Co-op headquarters opened in 2013, it boasted credentials as the most sustainable building in the country. Dan Hyde says 4 Angel Square takes things up another level.
How so? The 4 Angel Square site is the first in central Manchester to achieve the industry-leading NABERS Design for Performance Target Rating of Five Stars. As Dan Hyde says: “We are thrilled to unveil 4 Angel Square, a structure designed not just for today, but with tomorrow in mind as well. It stands as a pioneer among the next generation of sustainable office buildings at NOMA, and we look forward to welcoming the new occupiers to our growing neighbourhood very soon.”
How big is it? Spanning 11 storeys.
Who built it, who designed it? It’s been designed by SimpsonHaugh and has been delivered by contractor Bowmer + Kirkland.
It’s already BREEAM Outstanding, what’s this new certification all about? It’s the first in central Manchester to achieve the industry-leading NABERS Design for Performance Target Rating of Five Stars. Run by the Building Research Establishment (BRE), NABERS UK is a well established system for rating the energy efficiency of office buildings across England, Wales, Scotland and Northern Ireland, and is fast becoming the gold standard for assessing operational efficiency across the UK.
It will utilise an energy-efficient heating system of air source heat pumps and benefit from energy generated from the building’s photovoltaic panels. Additional features include 212 cycling spaces, 56 parking spaces of which 26 will have electric charging points, a 10th-floor terrace and will be a smart-enabled building.
It is part of a bigger sustainability story in Manchester’s city centre as NOMA looks to deliver the largest and most sustainable speculative masterplans in the area. Plans are well under way for the future next-generation buildings, 2 and 3 Angel Square, which will join 1 and 4 Angel Square in the 20-acre neighbourhood.
Dan Hyde again: “With 4 Angel Square, we’ve really set the benchmark for energy-efficient, smart-enabled, high quality office space and being accredited as the first building in central Manchester to achieve the industry leading NABARS standard is testament to that.
“4 Angel Square is a building that is truly sustainable for today and tomorrow and it will help occupiers attract the next generation of talent. The building will deliver lower occupational costs, as well as future-proofed, cutting edge design.
“Given the completion of the building is fast approaching, the first half of 2023 promises to be an exciting time as we build out our plans for 4 Angel Square and the wider NOMA estate.”
Inside New Century Hall
But is it all a bit soulless? You might have thought that a year ago, but the New Century dining and music venue, reopened in late 2022, is high quality and has a multi-operator foodhall, and a funky music and cultural venue.
But what if I just want a coffee? Well, adding to the vibrancy of NOMA is the latest addition, Allpress Espresso, the international coffee enterprise, which recently launched its first café and barista training hub in the North.
Isn’t the Co-op headquarters up for sale? Yes, the Co-op Group has dropped the asking price for its NOMA estate headquarters by £45m. One Angel Square in Manchester has been brought to market by CBRE’s investment properties team with offers being sought in the region of £165m, which equates to a seven per cent net initial yield, for the landmark building.
So are Co-op moving? No! Will Kennon, executive director, CBRE, who is leading the sale, said: “This headquarters office investment and landmark asset offers a highly attractive income profile with c15 years unexpired and indexed RPI based rent reviews, guaranteeing strong income performance during the remaining lease term.
“NOMA is one of Manchester’s most exciting ESG-focused business districts and One Angel Square commands a prime central position within the overall estate. The building itself offers strong ESG credentials including BREEAM Outstanding.
“The Co-operative Group has been headquartered in Manchester for more than 150 years and based within this HQ building since completion in 2013. We expect this unique opportunity will appeal to a wide global investor audience, secured by the strong covenant of The Co-operative Group and look forward to welcoming prospective parties to Manchester over the coming weeks.”
