Revamp for 101 Barbirolli

SCOTTISH Widows Investment Partnership (SWIP) is planning a major refurbishment at 101 Barbirolli in Manchester as its tenants plot their next move.

The block was once the most prestigious office address in the city along with its neighbour, number 100. But new schemes have since emerged at Spinningfields and St Peter’s Square.

Both blocks are nearly 20 years old and leases at 101 for accountancy group PwC and law firm DLA will expire in 2017. PwC is understood to be looking at 1 Spinningfields which will be built on the site of Quay House, while DLA is plotting a move to No 1 St Peter’s Square which has just been completed.

SWIP bought the 83,700 sq ft building for £30m from Hermes in 2011. 100 has also changed hands recently with Oaktree Capital Management and Moorfield buying it from SWIP for £41m early last year.

SWIP has appointed CBRE to project manage the refurbishment and a joint venture team of Fletcher Rae and SpaceInvader as Architect. The project will involve a new entrance and reception with concierge, and meeting space. The common areas and lifts will be refurbished to create an open two-storey space with a “galleried” first floor and new glazing.  A planning application will be submitted later this year.

SWIP investment manager Elaine McCann said: “This investment demonstrates our commitment to 101 Barbirolli Square and to our valued occupiers. The building occupies a strategic location within Manchester and by revitalising the internal space and creating a stylish working environment, we can create a quality product to meet the needs of modern occupiers.”  

Stephen Barnes, director of building consultancy at CBRE, said: “This is an exciting opportunity to enhance and reposition an iconic office building in a fantastic setting near the recently revamped St Peter’s Square. The new space will ensure the long-term success of the building and is a vote of confidence in the regional office market from the building’s owner.”