Argent has confirmed it is one of four shortlisted bidders for the 1.1ha (2.7-acre) Piccadilly Triangle site – one of the few sites of its size in Manchester city centre not owned by a major developer.
A decision on which of the bidders has been successful is expected soon.
Argent chief executive Roger Madelin said: “We are still formulating our plans for the Triangle site, but it will be a mix of hotel over serviced living accommodation – perhaps for students – along with private residential and some ancillary retail.”
The Piccadilly Triangle site, close to Piccadilly station, could accommodate up to 27,870 sq m (300,000 sq ft) of offices, a hotel and modest residential development. Greater Manchester Passenger Transport Executive, the city council and private landlords are co-operating to promote the site.
Work on Argent’s nearby 14,120 sq m (152,000 sq ft) Piccadilly Gardens office scheme is already underway, with completion expected in spring 2003. Madelin said that Argent plans to let Piccadilly Gardens floor-by-floor and has taken the heat out of expectations that the scheme would set a new office rental record around £270 per sq m (£25 per sq ft). He said: “We are not in prelet talks, but are targeting companies looking for large floorplates and offering it on a floor-by-floor basis. We should achieve a top rent in the low £20s per sq ft.”
GVA Grimley is the letting agent at Piccadilly Gardens and the sales agent, on behalf of the city council, at Piccadilly Triangle.
EGi News 16/08/01
