Legal & General (L&G) has secured planning consent for the £20m comprehensive refurbishment of One Piccadilly Gardens in Manchester.
L&G has owned the 160,000 sq ft building since 2014 and is making the investment following former tenant BNY Mellon’s departure.
The refurbishment project will deliver 100,000 sq ft of best-in-class Grade A office space, alongside a new arrival experience created through the enclosure of the existing pedestrian walkway beneath the building, upgraded occupier amenities, and extensive rooftop terrace and pavilion.
Rob Codling, head of commercial funds at L&G, said: “As long-term investors in Manchester, we remain committed to supporting the city’s continued growth and evolution. One Piccadilly is a landmark building in a key gateway location, and its transformation will complement the wider regeneration of Piccadilly Gardens which is so important to the city centre’s future. Now that planning approval is secured, we are focused on moving into delivery and working with the project team to create a workplace that brings lasting value for occupiers and the wider area.”
James Devany, head of office agency in the North West at JLL, which has been appointed joint letting agent at the building alongside Savills, added: “One Piccadilly represents exactly the type of opportunity the Manchester office market needs. Demand for best quality office space remains strong, particularly in highly connected city centre locations with excellent amenities and transport links.
“The repositioning of existing assets such as this will play an important role in helping address the shortage of high quality supply, while delivering the sustainability credentials and workplace experience occupiers increasingly expect – helping to underpin Manchester’s ongoing growth and continued strong inward investment.”
The wider project team includes Colliers International as project manager, DLG architects and Ekho Studio as interior designer.
