Contractor appointed for First Street expansion
Property developer Ask Real Estate has announced the appointment of main contractor, BAM Construction, to deliver the next phase of office development at First Street in Manchester City Centre.
Pension Insurance Corporation (PIC), a specialist insurer of defined benefit pension funds, has invested £105M to forward fund the new 12,600m2 steel-framed net zero carbon in operation office.
Plot 9a is being brought forward by lead developer, Ask and its JV partner, The Richardson Family. The building will have a BREEAM minimum rating of ‘Excellent’ and is also one of the first offices in Manchester capable of achieving a minimum NABERS Design for Performance rating of 5.5 stars or above – the highest level of environmental performance in use.
It was announced in August last year that the Government Property Agency (GPA) has taken a 25-year lease on the entire building, which will accommodate around 2,500 staff.
It is expected that £31M in economic benefits will be generated by the relocation from London to Manchester of over 700 civil service roles, which forms part of the Government’s Places for Growth initiative.