The Co-operative Group has today unveiled detailed plans for a mixed-use city centre redevelopment that will transform Manchester’s Northern Gateway into a remodeled district, to the international property community at the annually held event in Cannes.
The new district, regenerated under the name NOMA, is an £800 million project set to transform 20 acres of Manchester city centre’s heartland into a development providing 4m sq ft of office, retail, residential and leisure space.
The scheme is being built on land owned and assembled by The Co-operative Group, the world’s largest consumer co-operative, over a 10-15 year development programme.
The scheme has approval from the city authorities and is already underway with the construction of The Co-operative Group’s 400,000 sq ft new head office building, with completion of the BREEAM ‘Outstanding’ building scheduled for September 2012.
Speaking today at MIPIM, Martyn Hulme, Managing Director of The Co-operative Estates, said NOMA will take advantage of The Co-operative Group’s unique land ownership in the city centre to deliver a regeneration project like no other.
Mr Hulme said NOMA will firmly position Manchester as the first choice for business in the UK outside London, building on existing clusters of global head offices, media enterprises, professional and financial services.
One of the differentiating factors for this scheme will be that it will generate all of its own power, with a renewable energy centre providing for all of its needs through a smart grid.