Spinningfields woos tech firms and SMEs
MIKE Ingall, chief executive of Allied London, the property development firm behind Manchester’s Spinningfields, says his latest investment in the city is “another piece of the jigsaw.”
Speaking at the launch of Avenue North and Tower 12 – the former Manchester House – which has been opened-up to create a new 10-unit shopping corridor aimed at independent traders, he said the 100,000 sq ft office development would be more affordable and would enable smaller businesses to move to Spinningfields.
“It’s aimed at independent companies, maybe from the TMT (Technology Media and Telecoms ) sector, it will have a cool and funky design and there will be a whole floor in the tower dedicated to SMEs and start-ups who previously would not have had access to Spinningfields.”
Interest in Tower 12 has already come from a private equity house and an un-named law firm.
OBI Property is letting agent for the commercial space and Tushingham Moore for the retail leisure units in Avenue North.
Ingall told TheBusinessDesk.com the revamp of Manchester House and the construction of the latest leisure venue, The Oast House, which is operated by Knutsford-based Living Ventures, was “too important not to do”, even in testing market conditions.
“We have literally sliced a hole into Manchester House to create Avenue North, which links Bridge Street with the rest of Spinningfields. We will create a new pedestrian crossing from Bridge Street to Trinity Square – which we have planning permission to redevelop next year.”
He said the vision for this phase of the development is to link Spinningfields; retail offer at the Avenue with House of Fraser in a ‘V’ shape with the points of the ‘V’ meeting at the Oast House.
“Originally the plan for the space where the Oast House is now was meant to be a six storey building with space for three or four restaurants, but you can’t fund stuff like this and it’s too small for a pension fund.
“The Oast House is a focal point, a magnet for people to come and eat, have a pint of beer. We’re going to have displays, art fairs, book fairs, car displays in the ‘pop-up village’.”
