21  Aug 2019

First Street grows again

Commercial and cultural hub First Street has expanded again, as 170,000 sq ft of Grade A office space is welcomed to the estate.

Photos have been revealed of N08 First Street – perched on the edge of Manchester’s newest public square, Tony Wilson Place – signalling the arrival of the latest phase of delivery for the neighbourhood.

Ask Real Estate managed the development on behalf of GMPF and PATRIZIA UK.

N08 has already welcomed several high-calibre tenants to the growing estate, including engineering and professional services firm WSP – which took 55,000 sq ft across two floors – and Gazprom, which signed early in the construction process, taking 40,000 sq ft of space across floors five and six.

National cinema giant ODEON is also fully operational having chosen First Street for its North West headquarters where their 300 strong workforce has now moved into 26,000 sq ft on floor 3.

Current vacant space in N08 comprises a 26,000 sq ft suite on the 4th floor, together with a smaller suite of 11,990 sq ft situated on the 6th floor.

Chris Cheap, Managing Director of UK Regions at Avison Young who both advised on the lettings and manages the scheme on behalf of GMPF, said: “N08 is a fantastic addition to Manchester’s buoyant office market, and is another key milestone for this dynamic new quarter in the city.

“The location and surrounding amenity are second to none, and we are confident that it will continue to be a great success.
“Gazprom, ODEON and WSP electing to relocate to N08 is a clear endorsement of the quality of both the building itself and the wider First Street estate.

“We look forward to welcoming more exciting occupiers to the space – there are two suites remaining with the fourth floor representing the largest, most efficient office floorplate available in central Manchester.”

N08 has been brought to life as a design-led building, and boasts 26,000 sq ft of large, open floorplates which allow occupiers to create fit-outs that are flexible and unique.

The building’s key feature, however, is its impressive six double-height winter gardens, which provide unique breakout and collaborative spaces for tenants to use in whichever way suits their business.

The scheme also benefits from its strategic location, being situated within walking distance of the heart of the city but close to Oxford Road station and adjacent to Deansgate Castlefield Metrolink stop. It is nestled in the heart of a lively estate, next to a range of vibrant leisure operators – including fine dining restaurant WOOD, independent eatery Indian Tiffin Room and Junkyard Golf Club, the home of crazy golf.

Jamie Hills, Development Director at Ask Real Estate, added: “N08 has been a crucial project for the estate, adding a significant number of people to the working population which now stands at over 3,500. The success of N08 has given us the confidence to progress with the next phase of development at First Street and we look forward to sharing our proposals over the coming months.

Dan Williams, Head of Development at PATRIZIA UK & Ireland, said: “The building’s exceptional quality is evidenced by the fact that it has already attracted tenants of a hugely high class, and we have no doubt that it will continue to do so – indeed, N08 was 80% pre-let prior to being complete.

“This is the latest step in the ongoing evolution of First Street, as we continue to galvanise this important gateway to the city and meet an ever-increasing demand for first-class commercial space.”

An updated masterplan for the First Street area was approved by Manchester City Council in 2018 and will see Ask Real Estate, the Richardson family and PATRIZIA develop up to 1m sq ft of offices at First Street.

Currently, the estate is home to the INNSIDE by Mélia hotel; a 279-room Vita Student scheme; a 700-space Q-Park; a host of bars, leisure operators and restaurants; and anchor tenant HOME – an international arts and culture destination.

High-end steak restaurant Ribeye has recently opened featuring a theatrical kitchen and Vertigo, a plant based eatery is scheduled to open this month.

Avison Young, Savills and Metis are joint agents on the scheme, with Metis acting as retail agents and Avison Young & Savills overseeing commercial lettings.