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The £400m St Michael’s development has formally launched – the culmination of 15 years of hard work to transform an underused area of the city into a new world-class destination for work, rest and play.
The mixed-use scheme is being brought to the market through a collaboration between Relentless Developments and stakeholders KKR, Salboy and Manchester City Council.
No.1 St Michael’s is expected to be the first fully Net Zero Carbon commercial development in the city, both in operation and delivery.
The launch sees the development set a new headline rent for offices in the city with international law firms, Pinsent Masons and Hill Dickinson signing record-breaking deals for 26,842 sq ft and 18,192 sq ft respectively at No.1 St Michael’s*.
Construction of the highly-anticipated iconic 41-storey tower is set to commence in the coming weeks and when complete, will be home to a 162-bed 5 Star international hotel brand plus 217 luxury residences.
Relentless is in the final stages of signing a deal with an upscale global hotel operator for the tower, which will be announced in the autumn. Apartment sales will also commence after the summer as part of the joint venture between Relentless and property developer, Salboy.
St Michael’s is aiming to set new standards in quality, aesthetic and experience in the city, becoming a high profile destination for food, drink and entertainment. Iconic Nikkei restaurant brand, Chotto Matte will occupy the roof terrace while a public square will see the historic Sir Ralph Abercromby pub retained following a substantial refurbishment.
“This is an extraordinary scheme that has been no less than 15 years in the making and we believe it to be the most sustainable commercial space in the city. I’d like to thank all our partners who have been with me on this journey and remained committed to the vision to transform this pivotal area of the city into a global landmark.
“We’ve worked so hard to create a development that is distinctive in both its imaginative design and heritage as well as its location connecting the city’s business district with the historic civic quarter. Signing a deal with two of the world’s most reputable law firms and setting a new headline rent as we launch is testament to that.
“Progress is now beginning to accelerate as we approach the latter stages of No.1 and we set our sights on the world-class leisure and residential elements that will be delivered for No.2.”
No.1 St Michael’s (phase one) is a joint venture between Relentless Developments and global investment firm KKR.
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