A government-backed project to provide space for technology startups has become the first new office occupier at the iconic NOMA project.
The Federation building, on the southern edge of the Co-Operative’s and Hermes’ development in Manchester, is to become home to a new accelerator project.
The block, which provides 87,500 sq ft of space on the listed estate element of the building, will be home to a startup incubator project led by Doug Ward’s SpacePortX.
Signing on concessionary terms but guaranteeing a base rent, the venture will sublease space out to SME and tech entrepreneurs.
The agreement to lease was subject to £4m of government funding, which was announced in today’s Budget.
It will be a major boost to Manchester’s tech credentials, following a number of tech startups in the city.
A source said: “It’s a unique project and one that will hopefully snowball into a magnet for bigger, more established tech occupiers at NOMA.”
The project has been dubbed the “Forward Plan” by government.
It will be the first office occupier in the NOMA project, barring the Co-Operative’s own HQ at One Angel Square.
Two and Three Angel Square are shortly to go in for planning consent, covering 450,000 sq ft of new grade-A office space.
Edwards & Co acted for the occupier. Colliers International and JLL are leasing agents on the office elements at NOMA.
