EG Manchester Development Summit: The emergence of the creative classes is driving Allied London’s development schemes in Manchester, according to chief executive Mike Ingall.
Sought-after occupiers are no longer law and accountancy firms, but tech, media and telecoms companies, which are attracted to the UK’s heritage cities, he told the Estates Gazette Development Summit in Manchester.
The post-crash refurbishment of Tower 12 in 2010 was Allied London’s first venture creating workspace targeted at creatives.
“All the agents told us the city wasn’t ready for this and we went ahead,” Ingall said. The 250,000 sq ft building was leased in three months.
That success gave it the confidence to start building speculatively and the XYZ building in Spinningfields – comprising 160,000 sq ft of creative workspace – was fully-leased in four months.
Looking to New York, Berlin, Amsterdam and Singapore, Allied London is now focused on working with Manchester city council to create “neighbourhoods” with its mixed-use schemes.
The 2.5m sq ft St John’s masterplan for the site of the former ITV Granada Studios includes a mixture of PRS homes, hotels, offices, schools, health facilities, allotments and an urban farm.
To meet the perceived demand from the TMT sector, the scheme has been adapted to include extra tech-oriented workspace, with space for between 300 and 400 businesses in the West Village.
