Dones gamble on spec start for St Peter’s Square block
BETFRED owners Fred and Peter Done have confirmed they will make a speculative start on their 157,000 sq ft Two St Peter’s Square office block in the spring.
The move was expected because planning advisers have already started fulfilling various planning conditions, such as a demolition schedule for the existing buildings.
It means the 11-storey, Ian Simpson-designed block will be completed by the summer of 2016, and is sure to pick up one of the large professional services requirements in the market.
Accountancy firms EY and PWC are said to each be looking for 80,000 sq ft, while law firm Addleshaw Goddard is after 50,000 sq ft. Accountant KPMG has already signed up to One St Peter’s Square which is currently being built by Argent and the Greater Manchester Pension Fund on a neighbouring plot.
But the Dones will also be competing with Allied London which has unveiled details of No 1 Spinningfields which has also been designed by Ian Simpson and will offer 343,000 sq ft over 19 floors.
The £80m St Peter’s Square building which will sit on the site of Sussex House, Bennett House, Clarendon House and Century House which was built in the 1930s for the Friends Provident Society, set up by the anti-gambling Quakers. The work will start with the three-month demolition of these buildings.
Mr Done, who is carrying out the scheme through his Mosley Street Ventures vehicle, said: “St Peter’s Square is undergoing considerable redevelopment and we wanted to ensure that our building is developed in line with the Square’s timetable, which is why we have taken the decision to commence work on a speculative basis.
“Once completed Two St Peter’s Square will be one of Manchester’s most iconic office buildings, and our team is currently in talks with a number of potential tenants. We are extremely proud to be connected to this project and to be producing a quality building that will be located right in the heart of Manchester City Centre.”
DTZ is the agent on the scheme.
