A NINE-STOREY office block is set to be built at Manchester's Piccadilly. MCR Property, the business controlled by student housing magnate Aneel Mussarat, wants to build on the site of Barclays on London Road.

The bank, which is a listed building, will be converted to offices if approval is given, and an adjoining site will also be developed as offices. MCR Property says the speculative development is expected to start on site by 2009.

The scheme is being designed by Manchester-based Reid Architects, the practice behind the award-winning refurbishment of the former Norwich Union building at King Street, now called The Pinnacle.

The ground floor of the old bank will be converted for leisure use, probably a bar or pub.

MCR Property acquired the 11,500 sq ft building, next to the Malmaison Hotel, for é2.5m last summer.

Manchester planners are expected to receive an application for the new development this week. Town hall bosses are keen to see more office and commercial development in an area which was in danger of being dominated by apartments.

Speculative

Gary Thompson, commercial asset manager at MCR Property, said: "This will be a speculative development, because the Piccadilly area is the up-and-coming location for offices and because we're confident of the market there."

Piccadilly is rapidly becoming the new focus for the city's fast-growing office market.

Last month, Leeds-based developer Town Centre Securities said a 350,000sq ft scheme at Piccadilly Basin was to go ahead.

Work is already underway on the conversion of the historic Carvers Warehouse in a 24,000 sq ft office scheme. Work is also in progress creating a headquarters for BDP Architects, with completion anticipated in early 2008.

Nearby, London-based developer Argent is at work on the 200,000 sq ft speculative development of No 3, Piccadilly Place, London Road.

A 55,000 sq ft building next door at No 2 has been let to Greater Manchester Passenger Transport Executive.

Property industry leaders say Piccadilly will be the next major business district in the city, once the Spinningfield development is completed.

After Piccadilly, attention will focus on creating a new business district around Victoria station and at the Salford Greengates site.

Tweet