NOMA gears up for residential
THE team behind the Co-operative Group’s NOMA project is focusing its attention on residential development and hopes to start marketing a site early next year.
A document updating the council on the mixed-use scheme, which covers around 20-acres of Co-op Group assets on the north side of Manchester city centre, states, “With the residential market now recovering, the time is right to bring forward the first phases of this part of the project.”
It adds: “There are two main areas of focus for residential development on the estate, in a crescent from Angel Meadows to Rochdale Road, and within the listed quarter.
“The team expects to market a residential plot adjacent to Angel Street, Rochdale Road and Miller Street within the next quarter. Once a development partner has been found, who shares the same aspirations to create a high quality scheme, design work will commence in earnest.”
Under NOMA’s original plans around one million sq ft was set aside for residential in both new build and refurbished properties. A further 1.1 million sq ft has been earmarked for offices, and the document says various designs are being marketed to potential occupiers, “either with known requirements in the regional market, or to other businesses who may be considering locating to Greater Manchester for the first time.”
It adds: “With the completed 1 Angel Square as proof of the projects ability to deliver, the team are confident that the new build office capacity on the site will be taken up in due course.”
A spokesperson for NOMA said: “The NOMA project, which is a truly mixed use development, continues to make good progress. New Century House is now available to SMEs, we are marketing the Hanover building, having been granted planning consent for Grade A offices, and it is hoped that the hotel development at City Buildings will begin on-site next year. The development of residential accommodation, which has an important role in the scheme’s place making ambitions, is the next part of that mix.”
The Co-operative Group is said to be working on a joint venture deal with Hermes Real Estate to take forward NOMA. In June it ended talks with preferred development partners Delancey and Landid in June saying it could not “agree the priorities”.
NOMA director David Pringle said: “We remain in talks with potential joint venture partners, and hope to bring these discussions to a positive conclusion in due course.”
