Bruntwood SciTech buys Pinnacle building on Manchester’s King Street and unveils Pall Mall sneek peek
Bruntwood SciTech has bought the Pinnacle building on King Street, right next to its Pall Mall building where it has ambitious redevelopment plans.
The project is part of its stated strategy of building a £5bn portfolio by 2032 and increase its secured development pipeline to provide 8.4m sq ft of state-of-the-art workspace for the UK’s fastest growing sectors.
The Pinnacle, located on King Street in the heart of Manchester city centre, forms “the next part of this ambitious strategy” which seeks to grow alongside the science, tech and innovation sector in the UK.
A joint venture between property company Bruntwood, Legal & General, and Greater Manchester Pension Fund, Bruntwood SciTech has acquired the well-positioned workspace from Legal & General’s Asset Management division, who were acting on behalf of their client ReAssure Ltd.
Pinnacle
The Pinnacle, a Grade A asset, located on King Street, is set to become a further expansion to the company’s neighbouring location, Pall Mall, which itself is undergoing a major £30m redevelopment programme, due to complete in Summer 2025.
It offers 28,500 sq ft of workspace across 10 floors and as part of a planned second phase expansion and extension will become part of the Pall Mall scheme, in total offering more than 120,000 sq ft.
Built by Russell’s, when it opened in the mid 2000s it commanded the highest rent in the city from private bank Investec.
The acquisition comes as neighbouring Pall Mall’s redevelopment progresses with a year’s worth of works remaining on the transformation of the Grade II, 90,000 sq ft iconic building. Bruntwood SciTech has released a first look inside its exciting plans for the scheme, which includes a variety of stunning workspaces spanning Pay-As-You-Go and coworking lounges, all-inclusive serviced offices, and bespoke leased workspaces.
The hub will prioritise collaboration for the forward-thinking community based there with extensive break-out areas, and wellbeing and work-life balance with a free state-of-the-art gym and changing facilities, independent cafe, contemplation room, lounge and library space, secure EV charging points and a large cycle hub to encourage active travel. Topping off the unrivalled experience, those locating to Pall Mall and Pinnacle will be able to benefit from an impressive roof terrace offering panoramic views across Manchester’s skyline.
Also unveiled is ‘Pollen Square’ in commemoration of one of the original architects Francis Pollen, of Brett, Pollen & Teggin. The name also celebrates urban biodiversity which will be increased in the city.
In addition, Bruntwood SciTech will also provide 100% renewable energy across all shared areas at Pall Mall and Pinnacle in keeping with its entire 4.8m sq ft portfolio, delivered through its £9.7 million investment in Kirk Hill Wind Farm in Ayrshire, Scotland.
Ciara Keeling, Bruntwood SciTech
Commenting on the new acquisition and unveiling of the first look inside Pall Mall, Ciara Keeling, Chief Operating Officer for Bruntwood SciTech, said: “Our acquisition of The Pinnacle and investment into Pall Mall once again reaffirms our commitment to the North West’s – and indeed the UK’s – innovation economy. By adding further state-of-the-art workspace designed to support the science, tech and innovation sector, we are creating even more opportunities for businesses operating within that area to collaborate and grow, and ultimately working towards our ambitious goal of creating a £5bn portfolio by 2032. The acquisition was also ideally positioned to cluster with existing Bruntwood SciTech workspaces in the city centre, bolstering the community and knowledge-sharing that is already taking place across our city centre innovation hubs.”
Those currently located in The Pinnacle, including the popular bar All Bar One, will continue to operate as normal during the redevelopment process.
LGIM was represented by Savills and Simmons & Simmons. Addleshaw Goddard acted for Bruntwood SciTech.
