The Co-operative Group has revealed that it is seeking joint venture partners to help it to realise its £800m regeneration project on the northern fringes of Manchester city centre.
The announcement came at MIPIM in Cannes, as the group revealed that its 20-acre, mixed-use project, until now known informally as the “Co-op quarter” will be rebranded as NOMA.
The project will deliver 4m sq ft of office, retail, residential and leisure space, and is being built on land owned and assembled by The Co-operative Group.
The masterplanned scheme has approval from the city authorities and construction is already underway, with the construction of The Co-operative Group’s 400,000 sq ft head office building, which is due to be completed next year.
Martyn Hulme, managing director of The Co-operative Estates, said: “Manchester is a great place to live and work, with an innovative commercial community. However, like most cities, it has suffered disappointment as the downturn in the economy has affected many developments across the city.
“The Co-operative Group has the strength and capability to deliver NOMA and confirm Manchester’s position as the UK’s original modern city, and confirm its position in the European premier league of cities.
“This commercially led scheme will offer a range of floorplates to satisfy the needs of both large corporate occupiers and small- and medium-sized enterprises. Its retail and leisure offer will add to the variety already available in Manchester and be focused on independent, high-quality businesses.”
daniel.cunningham@estatesgazette.com
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