Muse Developments has secured planning consent for a 60,000 sq ft office building at the £145m mixed-use regeneration scheme Stockport Exchange, Greater Manchester.
The six-storey building, 2 Stockport Exchange, will be developed next to the existing 50,000 sq ft office created during the previous phase of works. This builds on the success of the second phase, which saw the office space let within six months of completion to recommerce business musicMagpie and national bus operator Stagecoach. The ground floor retail space is also fully let, with a Sainsbury’s Local and coffee shop Cafelito open.
Phase two also delivered a 115-bed Holiday Inn Express, which frequently achieves occupancy above 90% and is trading ahead of forecasts, according to Muse.
Wes Erlam, development director at Muse, said: “Securing planning approval is great news and means we can progress our plans for delivering a second office building at Stockport Exchange, which will build on the success of the first two phases.
“Given the shortage of grade-A office space in Stockport and south Manchester, this development means we can provide an unrivalled offer to occupiers, bringing even more businesses and jobs into Stockport town centre.”
Start on site is planned for summer 2018, with completion of phase three anticipated in spring 2020.
The scheme will ultimately deliver up to 375,000 sq ft of office space and 28,000 sq ft of commercial floor space. The first phase of the scheme – a 1,000-space multi-storey car park operated by NCP – was completed in 2014.
Cushman & Wakefield and CBRE are joint agents for the scheme, which is designed by Aedas RHWL.
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