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Old October 30th, 2007, 11:30 AM   #81
Chogmook
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Remember the CIS Tower 2 Thread?! Haha! Could it make a comeback?!!
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Old October 30th, 2007, 01:04 PM   #82
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New Century House is a really interesting gig venue - on arrivial it feels like you're partaking in some sort of 1960's international corporate business convention.

The Animal Collective are playing there Saturday, would have gone if I were in town.
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Old October 30th, 2007, 01:32 PM   #83
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Am I the only one you thinks the merger with Rochdale based Co-op will lead to them moving to much cheaper office space in some out of town business park?
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Old October 30th, 2007, 01:43 PM   #84
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The Co-op (CWS) website includes a picture of the CIS solar panels indicating that they too may occupy the CIS Building. I get the impression that the whole site is to be vacated.
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Old October 30th, 2007, 08:53 PM   #85
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Am I the only one you thinks the merger with Rochdale based Co-op will lead to them moving to much cheaper office space in some out of town business park?
I do wonder when they keep mentioning Greater Manchester...
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Old October 30th, 2007, 09:13 PM   #86
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I do wonder when they keep mentioning Greater Manchester...
Furthermore, the MEN headline read as follows:

Quote:
Co-op to quit city centre
Inside info, or crap reporting? You decide.
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Old October 30th, 2007, 09:15 PM   #87
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Do the Co-op still own a lot of land in Trafford Park ?
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Old October 30th, 2007, 09:36 PM   #88
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Inside info, or crap reporting? You decide
From the MEN you can practically guarentee it is crap sensational reporting.
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Old October 30th, 2007, 09:42 PM   #89
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Well, why not eh?!
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Old October 30th, 2007, 09:43 PM   #90
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It would seem strange to vacate one part of the city centre for another. It is more likely that they are off to the outskirts.
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Old October 30th, 2007, 09:57 PM   #91
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From the CO-OP website.

Can't see HB, RL and MCC allowing the C0-OP to leave MCC. It's bad enough that the city centre has already lost the BBC and possibly Granada.

Co-op Group plans to build new HQ
October 29 2007

THE Co-operative Group has announced its intention to build a new headquarters in the city or in the wider Greater Manchester conurbation, with the stated aim of helping to facilitate a multi-million pound regeneration of the city's northern gateway.


The Group is looking at a range of options, including building on its own landholdings in the current Co-op complex or relocating elsewhere in the city or Greater Manchester.


The move is not expected to take place for at least two years. In the meantime the Group plans to work with Manchester City Council on a regeneration master plan for the existing site.


The Group's decision has been taken in the face of rising maintenance costs for its existing dated office complex fronting Corporation Street. This includes the 13-storey New Century House office block. These costs are expected to add up to over £ 100 million within the next 10 years.


As a result of relocation, the Group expects to generate annual savings of at least £ 10m as well as realising the development value of the 20-acre site as part of the regeneration of the area.


No decision has yet been taken over the future occupation requirements of the Group's financial services businesses, Co-operative Financial Services (CFS), headquartered in Balloon Street and Miller Street. This continues to be reviewed against business needs. However, CFS has also pledged to retain its headquarters in Greater Manchester.


Lynda Shillaw, Director of Property for the Group, explained: "As a successful, expanding business, we want to ensure our employees have a modern workplace with up-to-date facilities. This is simply out of reach at our present premises which are tired and in need of major investment. When balanced against the commercial benefits to be gained by relocation and redevelopment of this site such investment just does not add up.


"The Co-operative landholdings have great potential to boost the city's commercial vitality and its ability to generate employment - a master plan for the entire site will enable this potential to be fully achieved," she added.
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Old October 30th, 2007, 10:04 PM   #92
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£13m Deva Centre sale
David Thame
30/10/2007


IRISH Investors have bought Salford's Deva Centre for more than £13m.

Belfast-based Four Two Four has acquired the 83,550 sq ft business village in a deal with the Greater Manchester Property Venture Fund for a figure in excess of the £13.25m asking price.

The deal reflects a net initial yield of around 5.5 per cent.

The sale is the first in a series of disposals by the £100m fund. Earlier this summer it emerged that it was considering selling its prize central Manchester asset, Elisabeth House, in a £25m deal.

Gary Scorah of WHR Property Consultants, advised on the deal, said: "This was a unique opportunity to purchase one of the most successful office business parks in Greater Manchester and will offset the other properties within Four Two Four's rapidly expanding portfolio.

"The Deva Centre has proven to be very popular and, although it has been well managed by GMPVF in the past, we believe there are opportunities to further enhance the scheme.

"There is a great synergy between this area of Salford and Manchester city centre, being within the inner ring road and owing to the fact that it is close to a number of new up-and-coming developments.

"As the traditional Manchester business core continues to move north towards Salford, many consider the Deva Centre to be a natural extension of the city centre."

Law firm Addleshaw Goddard represented Four Two Four. GVA Grimley represented the fund.
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Old October 31st, 2007, 02:55 PM   #93
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Quote:
Originally Posted by Chogmook View Post
Remember the CIS Tower 2 Thread?! Haha! Could it make a comeback?!!
When I worked at the CIS about 6 years ago, there was a persistent rumour that the CWS would move out of its old buildings and build on a new one (and ******* big one was the rumour) on the car park on the other side of Miller Street. I think that with over 3,000 staff it is very unlikely they would move out of the city centre. These boring soulless office parks don't suit people without cars and the city centre is the best location for attracting and retaining your core workers. I'd put a bet on a new building on Miller Street.

As fuel gets more expensive and car commuting also gets added costs (like a toll) the city centre it likely to be the preferred option to office parks on the outskirts. The government takes a much less favourable view of these out of town office parks now and the Co-op should be showing its green credentials by committing to the city centre, where most people arrive by public transport.
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Old October 31st, 2007, 04:41 PM   #94
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Moving to an out of town location would not be prestigious enough, these big organisations tend to like to group together. My guess is that any half decent management team would not be doing their job if they did'nt create a scare factor to ensure the council offer the most attractive platform possible, its called negotiation!
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Old October 31st, 2007, 06:12 PM   #95
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Aren't they a completely new organization now, Manchester's Co-op Group and Rochdale's United Co-op.

Could it be a way of making a clean break with the past by moving the merged group to a completely new site.

My very uneducated guess is that the merged group will want to cash in on it's city centre property and move to Trafford Park.
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Old October 31st, 2007, 11:28 PM   #96
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Quote:
When I worked at the CIS about 6 years ago, there was a persistent rumour that the CWS would move out of its old buildings and build on a new one (and ******* big one was the rumour) on the car park on the other side of Miller Street. I think that with over 3,000 staff it is very unlikely they would move out of the city centre. These boring soulless office parks don't suit people without cars and the city centre is the best location for attracting and retaining your core workers. I'd put a bet on a new building on Miller Street.

As fuel gets more expensive and car commuting also gets added costs (like a toll) the city centre it likely to be the preferred option to office parks on the outskirts. The government takes a much less favourable view of these out of town office parks now and the Co-op should be showing its green credentials by committing to the city centre, where most people arrive by public transport.
That's a good point. If the Co-op's sustainable and ethical ethos has any substance they should be obliged to remain in the most sustainable and accessible location which in most cases means an in-town location.
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Old October 31st, 2007, 11:35 PM   #97
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If the co move out of the city I'm sure the propaganda merchants will jump on this big time and blame the congestion charge. They could exploite it and do a bit of damage I'm sure. Hopefull they will remain and build a big **** off gleaming corporate tower.
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Old November 1st, 2007, 12:00 AM   #98
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That's a good point. If the Co-op's sustainable and ethical ethos has any substance they should be obliged to remain in the most sustainable and accessible location which in most cases means an in-town location.
The Co-Op arent as cuddly as they would like people to think.
There was an article on the MEN website this morning that has now disappeared.
The final sentence was a bit chilling

At present, its Co-op Financial Services business - including the landmark CIS Tower - is not on the move, although the group said the "future requirements of CFS continue to be reviewed against business needs."

Co op are influenced as much by the bottom line as any other big business.
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Old November 1st, 2007, 12:35 AM   #99
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From the CO-OP website.

Can't see HB, RL and MCC allowing the C0-OP to leave MCC. It's bad enough that the city centre has already lost the BBC and possibly Granada.
I was a bit taken aback when Refuge Assurance quit those magnificent offices on Oxford Rd for leafy Wilmslow, many moons ago. But now I've come to the conclusion that it doesn't really matter where big business is situated in Gtr Manchester, as long as it is. Arguably, London lost HSBC and Barclays to a swamp in Tower Hamlets.

It's inevitable that this sort of diversification (if that's the right word) is going to take place within Manchester, as land values change and the city centre becomes more of a West End and less of a 'square half mile'.

What's the bet the CWS/CIS relocate to somewhere just outside the congestion outer ring?!
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Old November 1st, 2007, 12:46 AM   #100
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Does anyone remember the name of the bank that pulled out of Spinningfields/No 3 Hardman this year? (can't remember) Sure they signed up for 100-200,000 sq ft of office space and couldn't get out of the contract. The CO-OP could take that space at a fraction of the cost of building a new office block.
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