Manchester’s 76 King Street is to become home to two separate flex operators following its freehold acquisition by Northern Group for an undisclosed sum.
Northern Group is to let around 5,500 sq ft of basement and ground floor space to its sister company, flex provider Colony. It will join serviced office specialist Orega in the building, which occupies the top three floors and has been in place since 2013.
Colony has signed a five-year lease and by early next year expects to offer a mix of event space, meeting rooms and fixed and floating desks.
76 King Street, which totals 41,414 sq ft, is Northern Group’s second acquisition in Manchester city centre in recent months, following its purchase of the 36,500 sq ft 19 Spring Gardens in June.
King Street will become the eighth Colony co-working space across Manchester.
Northern Group has its origins in commercial and residential space in Ancoats, to the north of the city centre. However, it has now laid down a flag in one of Manchester’s best-known streets.
76 King Street has been known locally as the DKNY building and the space Colony will occupy was previously home to fashion brands DKNY and Belstaff. It is Grade II listed and was designed by Alfred Waterhouse, who also designed nearby Manchester Town Hall.
Northern Group chief operating office Paul Dobbs said: “Northern Group is a distinctly and proudly Manchester-born and based 360-degree property company with a trusted reputation for our top-end development, management and residential and commercial spaces. As such, we are really excited to bring 76 King Street into our property portfolio.
“This is a special building, instantly recognisable to many Mancunians and its intricate, listed architecture and superb location aligns with our ethos to create, retain and operate outstanding spaces to work and live in vibrant parts of the city.”
Gerald Eve acted on behalf of the private vendor.
Photo from Northern Group
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