Co-op launches NOMA scheme
The Co-operative Group has launched an £800m development scheme for Manchester city centre, to be known as NOMA.
The ambitious, mixed-use scheme (pictured) was launched this week by the Co-op at the MIPIM property conference in Cannes. NOMA 53 (derived from north of Manchester) is a commercial led, 4million sq ft scheme that will include 1.5million sq ft of office floor space.
The scheme has a construction timeline approaching 15 years with phase one already in progress. The Co-op is currently having new 326,000 sq ft headquarter offices constructed on the 20-acre site by developers BAM. Scheduled completion for the BREAAM rated ‘Excellent’ offices is September, 2012. The land is owned by the Co-op.
The Co-op envisages NOMA as a leading commercial centre, consisting of headquarters accommodation along with offices for media, financial and service industries. The speculative scheme will however have to compete for media industry tenants with the large, Peel Holdings MediaCity scheme at nearby Salford.
Martyn Hulme, Managing Director of Co-op Estates said: “This commercially led scheme will offer a range of floorplates to satisfy the needs of both large corporate occupiers and small and medium sized enterprises”. Potential tenants will be able to specify their exact requirements at the pre-let stage. It is not clear if construction of new-build offices will commence without pre-let agreements being signed.
The scheme will involve a programme of public realm works, to be designed by Netherlands based Mecanoo and the site will be integrated into the existing transport network. The Co-op says the scheme will generate all of its own power requirements via a renewable energy centre and smart grid. As such BREEAM ratings of ‘Excellent’ should be expected.
The Co-op is currently the sole developer for the scheme but expects to commit to joint ventures.
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