Northern Group are thrilled to announce the acquisition of 76 King Street - known, for years, as ‘the DKNY building’ - marking its second prime city centre acquisition in two months.
Bringing the landmark Alfred Waterhouse designed, blood-red brick building into Northern Group’s multi award-winning portfolio boosts a rapid expansion for the firm as it takes its well-known brand of high quality commercial and residential spaces out of its Ancoats home and into the heart of Manchester city centre.
The Grade II listed building, which occupies the majority of an island site on the corner of King Street & Essex Street, houses six storeys including 41,414 square feet of office and retail space plus basement parking, with roof terrace views across to Manchester Town Hall, also designed by Waterhouse, architect of Manchester’s gothic Civic Quarter.
Its vacated designer tenants, DKNY and Belstaff, will now make way for a brand-new COLONY Coworking location, due to open in early 2025. It becomes the second Manchester Central Business District space in the pipeline for COLONY - Northern Group’s sister company and flex workspace operator - and its eighth across the city, after Northern Group acquired 36,500 square feet at 19 Spring Gardens in June this year, only a short walk away.
At 76 King Street, COLONY has signed a five-year lease for the ground and basement floors expected to feature event spaces, meeting rooms and fixed and floating desks, all with the enormously popular Flex Space brand's signature high end finishes, service and facilities. The building’s four upper floors are fully let.
Northern Group COO Paul Dobbs said: “Northern Group is a distinctly and proudly Manchester-born and based 360-degree property company with a trusted reputation for our top end development, management and residential and commercial spaces. As such, we are really excited to bring 76 King Street into our property portfolio. This is a special building, instantly recognisable to many Mancunians and its intricate, listed architecture and superb location aligns with our ethos to create, retain and operate outstanding spaces to work and live in vibrant parts of the city.
“This is our second acquisition in the city’s Central Business District inside two months, with back-to-back deals that solidify our position as active investors in the Manchester property scene.
“Since Northern Group’s inception, in 2008, we have maintained a steadfast and ongoing commitment to delivering exceptional, thoughtfully designed spaces that are managed to the highest standards for our clients. The creation of COLONY, in 2016, translated this same ethos into flex and coworking provision, ensuring our rapidly expanding spaces frequently find their way onto lists of the UK’s best. Putting our high-quality spaces and management into the heart of Manchester city centre feels great and we’re thrilled to be the company to bring 76 King Street into its new era.”
76 King Street neighbours some of Manchester's best known premium brands and businesses including Rolls Royce, El Gato Negro, Vivienne Westwood, Gordon Ramsey’s Lucky Cat and Gotham Hotel, Bupa and Avison Young, within an area enjoying a resurgence as a dynamic and highly desirable part of the city centre’s core.
The ground floor will undergo a comprehensive refurbishment to meet Northern Group’s contemporary standards, high-quality design and functionality expectations, elevating COLONY’s offer on the site.
The distinctive building was created by Waterhouse between 1888 and 1896 and features blood-red brick and terracotta, with grey granite. It has a deep rectangular footprint with an arcaded ground floor and arched windows.
This acquisition represents Northern Group's continued dedication to reshaping and enhancing Manchester's urban landscape. By integrating such an iconic building as 76 King Street into our portfolio, we reaffirm our commitment to creating exceptional spaces that honour the city's rich architectural heritage while meeting modern needs. We look forward to seeing 76 King Street flourish under our care, contributing to Manchester's vibrant business environment and further solidifying our role as a key player in the city's ongoing development.
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