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Old April 12th, 2006, 01:10 AM   #21
High-Fi
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The pony tail through the baseball cap works every time for me - grrrrr!
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Old April 12th, 2006, 01:13 AM   #22
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Ince Power Station?
I like the sound of that! Can we start an Ince Power station thread? Great new book out called Infrastructure which is one man's obssesion with industrial architecture. A beautiful, huge tome to pressure valves, silos and chimneys - right up my street but a bit out of my price range. (Do you have vacancies at your place for expensive reference book buyers? I'd be dead good at it!)
Leopold Square is rockin nowadays - Looking really good already so cant imagine what you are 'rendering'.
Central Station? Liverpool?
Or Matt and Pat?
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Old April 12th, 2006, 01:14 AM   #23
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Quote:
Originally Posted by ferge
They need to develop around CIS to give it and the likes of Arndale some company and have some nice financial hubs up there as well as everywhere else..Well, I think..
We cant have our dear old 'mid-rise' standin on its own, its not tall enough for isolation, lol
It'd be good to see the CIS and Victoria area developed in the same way as Spinningfields and the CBD. There seems to be an underlying theme that larger floorplates, better design quality and more speculative development is needed in the centre, and I think that space is starting to run out in these two prime locations.
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Old April 12th, 2006, 01:21 AM   #24
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Quote:
Originally Posted by The Longford
Ince Power Station?
I like the sound of that! Can we start an Ince Power station thread? Great new book out called Infrastructure which is one man's obssesion with industrial architecture. A beautiful, huge tome to pressure valves, silos and chimneys - right up my street but a bit out of my price range. (Do you have vacancies at your place for expensive reference book buyers? I'd be dead good at it!)
Leopold Square is rockin nowadays - Looking really good already so cant imagine what you are 'rendering'.
Central Station? Liverpool?
Or Matt and Pat?
the ince job is for peel, there is a cabe presentation in a few weeks, so we are mad on that, cs is in liverpool and the app has just been submitted, leo is for ask and yes thats a nice little regen job right up your street... check this out for renders!
http://www.virtual-planit.com/produc...omm_detail.htm
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Old April 12th, 2006, 01:25 AM   #25
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Quote:
Originally Posted by The Longford
Can we start an Ince Power station thread? Great new book out called Infrastructure which is one man's obssesion with industrial architecture. A beautiful, huge tome to pressure valves, silos and chimneys - right up my street but a bit out of my price range. (Do you have vacancies at your place for expensive reference book buyers? I'd be dead good at it!)
Get it bought, treat yourself.
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Old April 12th, 2006, 01:28 AM   #26
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After a quick search i see Ince Power station is no more and is a business park!
Came across this which made me chuckle (note the name of the demolition experts - any relation?)
http://www.brownandmason.com/demolit...explosive.html

Leopold Sq is (and will be) great (although ive rarely seen sheffield so sunny).

I think ive seen some of your Central station stuff before - big thing yes?
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Old April 12th, 2006, 01:31 AM   #27
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Quote:
Originally Posted by The Longford
After a quick search i see Ince Power station is no more and is a business park!
Came across this which made me chuckle (note the name of the demolition experts - any relation?)
http://www.brownandmason.com/demolit...explosive.html

Leopold Sq is (and will be) great (although ive rarely seen sheffield so sunny).

I think ive seen some of your Central station stuff before - big thing yes?
ince ps is a new proposal, to be the largest recycling plant in europe but it will be years before it gets started.

cs was 40 floors but some heritage arses forced our client to shrink!
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Old April 12th, 2006, 01:32 AM   #28
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Quote:
Originally Posted by The Longford
ha ha! well spotted!! no
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Old May 19th, 2006, 03:50 PM   #29
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Talk of a lull in Manchester is now officially over!

More juice and future developments.

Phew! I need a Robinson's orange barley water.




Selling office floors works around the world, and now developers are trying it in Manchester.(article below render)



Various attempts at ‘strata-selling' - selling individual office floors on either a commonhold or long-leasehold basis - have been made in Manchester in the past. While there has been limited success in specific locations, the concept has not taken off.

However, this could be about to change. Several developers are working on plans to introduce strata-selling to the city centre and the market is waiting to see if a trend is about to be born.

The concept is so similar to selling residential flats that supporters of the method say it will work. The present climate of low interest rates and the popularity of SIPPs (self-invested personal pensions) add to the allure.

However, others are dubious about whether buyers will accept strata-selling for commercial space and whether it can work in city centres. The idea of selling commonhold, under which buyers take freehold units and join an association responsible for maintaining shared facilities such as the roof and stairs, is still not popular. Most owners opt to sell offices on a long-leasehold basis because it is better understood, even though the practicalities are the same in respect to maintenance.

Ask Developments originally planned to sell its Rossetti Place scheme in the city centre on a strata basis. Sales were launched on that premise and several floors were under offer when insurer Esure came along in 2003 and took a conventional lease on the whole building.

Ask again

Now Ask is back with a new concept, Abito.office. Ken Knott, Ask's chief executive, says: ‘The product is well conceived and I think has significant latent demand out there.'

Ask has learned from the Rossetti experience and has picked a site on the city centre fringe.

‘What that revealed was that Rossetti was too [high] in price,' says Knott. ‘It is not a question of product, it was the price that was wrong.'

The scheme will be built on the corner of Deansgate and Owen Street, and Ask hopes to roll out the model across the country.

The units will range from 1,000 sq ft to 3,100 sq ft (93 sq m to 288 sq m) and be priced at £235/sq ft (£2,529.54/sq m). An external walkway on the 72,000 sq ft (6,690 sq m) eight-storey building will give the offices an ‘own front door' feel.

Already under way in the city's northern quarter is an office scheme by residential developer Brookfinch, the Margolis Building.

It has several units on each floor. There are 16 long-leasehold units and, attached to the main building, three freehold cottages. The cottages are understood to be under offer and agent Knight Frank says there has been a lot of interest from small companies, particularly media, design and architecture firms.

‘There's probably never been a better time to do [strata-selling],' says associate Richard Stokes.

Developer Artisan has already had some success in selling offices to owner-occupiers in mixed-use schemes. It sold a long lease to MediaVest at its Express Networks scheme in Ancoats at the end of last year and is likely to replicate this at Albion Mill in Pollard Street. Both schemes are in east Manchester.

Others have not had the same experience. Verve Properties bought 101 Princes Street hoping to sell the floors on a long-leasehold basis in 2003. John Ogden, director of office agency at CB Richard Ellis, says the legalities of buying a floor in a building scared prospective occupiers away. ‘People are very concerned about how the building will be managed and what their liabilities will be.

It didn't take off and we went back to leasing it straight,' he says.

Times change and many developers are looking at selling offices to owner-occupiers or investors. Aeroworks, a subsidiary of PH Property Holdings, has planning consent for a 17-storey tower on Windmill Street next to the Radisson Hotel and G-mex conference centre. Called Stratus, the 37,000 sq ft (3,440 sq m) scheme will be sold on a floor-by-floor basis.

Chris Jones, partner at Christopher Dee, is advising Aeroworks. He says the building will be of a high standard so that small occupiers can access the level of quality that is found at Spinningfields and usually reserved for larger requirements. Prices are to start from £850,000 for a 2,250 sq ft (210 sq m) floor.

Rolling stock

Business Homes is also looking at Manchester as a location for strata-selling. It is starting the concept in Leeds and hopes to roll it out across the country.

Group chairman Simon Houlston says it will build 20-25 storeys with 5,000-6,000 sq ft (465-560 sq m) floorplates on small sites.

There will be business centres with hotel-style entrances, cafe bars and meeting rooms at the base of the towers. Offices will be sold off above and there will be up to four units per floor.

Interestingly, Business Homes is looking at selling on a commonhold basis. ‘We are aware that no one else is doing it but we are looking at it,' says Houlston. ‘It is a simple mechanism.'

The developer is looking at Manchester sites and should be ready to make an announcement by the end of the year.

Developer Nikal is also planning a nationwide scheme of strata-selling in Town Centre locations. This year it purchased two sites in Altrincham. The office sizes will be 500-5,000 sq ft (45-465 sq m) with shared access. Depending on the location they are likely to be 10-15 storeys high.

Managing director Nick Payne says Altrincham is a ‘test case' and is partly based on the success of the serviced office model. The two sites will total 40,000 sq ft (3,715 sq m).

‘If it works we want to raise the game and move into city centres,' he says.

Payne names Manchester, Birmingham and Leeds as likely targets for future schemes. The first site will come to the market at the end of the year and Nikal is finalising a brand and marketing campaign. It will retain the freehold and 25%-50% of each building.

As pioneering developers blaze a trail for strata-selling in Manchester, it is hoped that the path will be clear enough for others to follow. Albany Assets, which has planning permission for a tower and office building in Piccadilly, hopes to sell the offices to owner-occupiers. Chairman Chris Nisbet says small offices will be available as ‘lease purchases', which tenants will have an option to buy.

Are there too many people jumping on the strata-selling bandwagon? Payne thinks not.

‘The great thing about this concept is it will thrive on competition. If there's a number of developers doing this it will become an acceptable vehicle,' he says. Perhaps the critical mass can reassure banks, investors and owner-occupiers enough for them to take the leap.

http://www.property-week.co.uk
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Old May 19th, 2006, 04:08 PM   #30
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Two lots of 10-15 storeys in Altrincham?
Shurely shome mishtake!
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Old May 19th, 2006, 04:26 PM   #31
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I just shudder at the thought of 12 of these things piled up on top of one another:



Business Homes are the lowest of low rent out of town office developers. They would seriously have to raise their game before moving into the city centre market. As I've said before, I do believe that function and cost should take precedence over purely aesthetic considerations. Manchester is a working city and it needs a range of low and mid price units for growing compinies in accessible areas to support general economic growth, this explains my membership of the Bruntwood fanclub. But could be a step too far?

OK, I accept that their existing product does have a place (down an inaccessible side street in Stockport for example). But in the city centre? It's bad enough that they've bought out Christie Fields, but I'm seriously worried that Sleepy's heart wouldn't be able to handle a 25 storey business homes tower building in say Chapel Street.

http://www.businesshomes.com
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Old May 19th, 2006, 08:09 PM   #32
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Im not having palpitations just yet Potato Man and I do subscribe to your views, however I'm also a great beliver in the value of good architecture and urban design in stimulating the economy. Value-for-money office space need not be mutually exclusive from good design. In fact I think I will make that my epitaph!
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Old May 19th, 2006, 08:48 PM   #33
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Bruntwood has exchanged contracts with Network Rail for more than 65,000 sq ft (6,040 sq m) of offices at SquareOne in Manchester's biggest office transaction this year.

Network Rail is taking the second and third floors in the 132,000 sq ft (12,260 sq m) scheme, next to Manchester's Piccadilly station, leaving 67,000 sq ft (6,220 sq m). Network Rail will have 700 staff working from the building.

The rail track operator is paying close to £13/sq ft (£139.93/sq m) on a 10-year lease. Bruntwood will complete the building by next year.

Anthony Burgess, Network Rail corporate offices manager, said the company would consolidate part of its operations at SquareOne.

He said: ‘The 32,000 sq ft (2,970 sq m) floorplates were key in our decision-making, as nothing else in the local market comes close.'

Bruntwood has agreed to take a long leasehold of the undercroft areas below the railway arches of Piccadilly station. It can integrate the space into the SquareOne site and add to the parking. LSH acted for Bruntwood; King Sturge and DTZ acted for Network Rail.
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Old September 23rd, 2006, 12:44 AM   #34
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Barbirolli's super deals

INVESTORS have pounced on neighbouring Manchester office blocks as the appetite for city centre property grows.

Both 100 and 101 Barbirolli Square, next to the Bridgewater Hall, have been sold in separate deals, netting a massive £35m profit for the buildings' owners.

Eurosceptic businessman Paul Sykes' Highstone Group sold 101 Barbirolli Square for £43.5m. The buyer is thought to be city pension fund manager Hermes, who funded the original development and who sold the 85,000-sq ft block to Highstone in 2001 for just £26.5m. The deal represents a healthy profile for Highstone.

Occupiers at 101 Barbirolli Square include lawyers DLA Piper and accountants PricewaterhouseCoopers. King Sturge advised on the sale.

Neighbouring 100 Barbirolli Square has been bought for close to £70m by Scottish Widows in a deal with German owners DB Real Estate.

Hermes

The building last changed hands in 2003 when it was acquired from Hermes by DB Real Estates for £52m. Jones Lang LaSalle advised on the latest purchase.

The deals follow 18 months of hectic investment in the Manchester city centre property market. Some observers had expected the investment market to cool as alternatives, like the stock market, began to recover. However, demand from investors has been sustained and it shows no sign of slackening.

Mark Ridley, head of Savills' Manchester office and the firm's investment director, said: "The sheer weight of money available from investors and the imbalance between supply and demand, has seen prime yields continue to fall.

"We're still seeing fantastic demand from institutional investors keen to buy a slice of central Manchester."
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Old September 26th, 2006, 02:20 PM   #35
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From an article in the NW Enquirer last week...the last edition?

TOTAL OFFICE SPACE UK REGIONS-

Manchester 31.5m sq ft
Leeds 19.5m
Birmingham Bristol Edinburgh 18m
Liverpool Cardiff 8.5m

What does this reveal about the Manchester economy...and Liverpool for that matter?
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Old September 26th, 2006, 03:55 PM   #36
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Stat.s

Quote:
Originally Posted by URBANISER
From an article in the NW Enquirer last week...the last edition?

TOTAL OFFICE SPACE UK REGIONS-

Manchester 31.5m sq ft
Leeds 19.5m
Birmingham Bristol Edinburgh 18m
Liverpool Cardiff 8.5m

What does this reveal about the Manchester economy...and Liverpool for that matter?
Thanks UrbaniserThat's an interesting statistics on the face of it. Would anybody know how much of this space is vacant, how much office space is proposed and are there any up to date figures on the £/sq.ft charges per region. All questions there, so TYIA.
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Old October 5th, 2006, 10:51 PM   #37
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Shaft of light

Manchester’s office market is having a poor year. Heather Greig-Smith reports

The recently completed 57,000 sq ft (5,295 sq m) Aurora office building on Princess Street has been the subject of much criticism in the Manchester market. Its name may suggest light, but it has been lambasted for being dark inside and having deep floorplates on a small and difficult site.

There is also an apocryphal story that a senior figure at Grant Thornton took one look at the lift to the car park in the scheme, said he wasn’t putting his Bentley in it and left. Whether or not there is an ounce of truth in the rumour, Grant Thornton went to Spinningfields and is no longer a candidate for the space.

Developed by CTP, the building was funded by Irish consortium LNC Group at a cost of £21m. Anglo Irish Bank provided debt funding.

However, when you visit Aurora – or 55 Princess Street, as it is now being branded – it seems the tales of a dark and dingy cavern have been exaggerated. By and large it is a pleasant building, which has a light top floor and an elegant reception area. It is fair to say that the lower levels are darker, but it is bound to appeal to an occupier out there.

DTZ and King Sturge are the letting agents.

DTZ head of agency Ken Bishop says the negative comments are coming from people who don’t know the building. ‘We always knew it was going to be a difficult building to let during construction given the physical constraints of building it. We’ve taken a relatively relaxed

view hitherto,’ he says. ‘The finished product has come out very well. The entrance hall is very distinctive.’

Nothing on the horizon

Allied London’s Spinningfields has hoovered up many of the big lettings in the city and there is no obvious large-scale letting on the horizon. The next building to be completed there with available space is two years away as HSBC is taking the 28,577 sq ft (2,655 sq m) balance of 4 Hardman Square, the remainder of which is let to Grant Thornton. This should give the likes of refurbishments Aurora, 58 Mosley Street, Bauhaus and new build Forty Springardens more of a chance.

Tony Bray is head of business space at Cushman & Wakefield, which is the letting agent on Ask Developments’ 51,000 sq ft (4,738 sq m) Bauhaus scheme. ‘There really are only two that are going head to head at the moment: Bauhaus and Aurora,’ he says.

Solicitor Irwin Mitchell has taken 12,000 sq ft (1,115 sq m) at Bauhaus for £27.50/sq ft (£296.01/sq m), following its purchase of Alexander Harris in Altrincham. Lambert Smith Hampton is the joint letting agent.

There is also a string of medium-sized requirements on the cards (see table). This is made up of government requirements such as the Training and Development Agency for Schools and the Standards Board as well as solicitors and other private sector companies.

‘There is an unprecedented level of activity,’ says WHR head of office agency Mike Hawkins. ‘Even requirements on hold will conclude and occupiers who have taken space have decided they need to take more.’ He cites Brabners, which has bought a niche team from James Chapman, the rest of which has been swallowed by Halliwells.

‘In Manchester the middle-ranking firms are disappearing, merging or being swallowed up,’ says Hawkins.

Yet Peter Gallagher, head of Dunlop Haywards’ Manchester office, says agents are going to have to work harder.

‘The next few months will be a matter of conjuring up things, making requirements rather than waiting for them,’ he says. He predicts that take-up for 2006 will approach 1m sq ft (92,902 sq m), although this includes substantial amounts of prelet space at Spinningfields.

The loss of the BBC relocation to Salford Quays has put a significant dent in the city centre’s prospects. At the moment Manchester is waiting for the next big thing to hit.
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Old December 20th, 2006, 03:42 PM   #38
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Bruntwood gazumped.

Magnus snaps up Tootal House

CHESHIRE landlord Magnus has snatched another city centre office building from under the nose of rival city centre landlords Bruntwood.

The Macclesfield-based property business has bought Tootal House at Spring Gardens, Manchester, for £10.5m, beating a bid from Bruntwood.

Although Bruntwood remains by far the largest single landlord in the city centre office market, controlling around one quarter of all office space, Magnus is determined to grow fast.

The latest deal comes at the end of a year in which Magnus has expanded rapidly. In January the firm revealed a £100m growth strategy and said it had a £20m war chest to fund new acquisitions. It paid £5.4m to buy the 26,000 sq ft former Direct Line Insurance offices at 44 Peter Street. Tootal House, which totals 37,000 sq ft, is currently occupied by a number of firms, including solicitors Halliwells.

Director Steve Widdowson said: "Tootal House is in a great location. We believe in the future of the city centre, and we know that demand from occupiers for city centre offices is high."

Magnus bought the building from the IMB Pension Fund, advised by Single VL and CBRE Investors. King Sturge acted for Magnus.
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Old December 20th, 2006, 04:08 PM   #39
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Just interesting to note that this building changed hands back in 2002 for £6.4m. That's a 61% capital return in about 4 years!

A strong endorsement of Manchester's office market, particularly so given that Tootal House's major tenant is committed to relocation to Spinningfields next year.

Wonder if we may see plans unveiled for a major overhaul/redevelopment of this building once Halliwell's move out. The new owners will need to do something if they want to make a decent return on an investment of that size.
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Old December 22nd, 2006, 12:10 PM   #40
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office capacity.

I dont know where these figures come from about office take up/required capacity etc. etc. etc. in this city. Peter House on Oxford Road. has remained half empty since it was refurbished god knows how many yrs. ago, Tootal House further down Oxford Rd. likewise is partly empty and the two 'HUGE' towers planned for Spinningfields have no tennants signed up yet.

Its OK getting these schemes built 'expecting' there to be take up but clearly take up cannot be that strong when there i so much empty office space in the city centre already. Look around you and you can see for lease/rent signs everywhere.
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