Candour acquires Speakers House in Manchester
Aegon Property Income Fund has sold 39 Deansgate for an undisclosed amount, after marketing the property with an £8m guide price.
Speakers House’s new owner, Candour, is a privately-owned property development and asset management company. The acquisition of 39 Deansgate marks the company’s first foray into the Manchester market.
39 Deansgate is an eight-storey, 1960s office block with ground-floor retail currently occupies the plot. However, the site has planning permission to demolish that building and replace it with a 17-storey tower.
That future 17-storey tower has been designed by Sheppard Robson and would offer 200,000 q ft of space.
CBRE Planning helped secure the approval for the new building from Manchester City Council in January 2022.
Sheppard Robson designed the Speakers House proposal. Credit: via planning documents
Toby Pentecost, the co-founder of Candour, described Speakers House as a “100% prime development site”.
“With a planning consent in place, it gives Candour the opportunity to deliver a brand new best-in-class Grade A office development,” Pentecost said.
“Candour will be working with the incumbent design team and with Manchester City Council, to deliver a series of optimisations to the consent to ensure that the building is the most efficient and sustainable use of this gateway site,” he continued.
“Candour has a track record for creating and refurbishing buildings with a high performance in energy efficiency and sustainability and we look forward to working in Manchester to offer occupiers a highest-quality workspace with peerless ESG profile.”
Aegon was advised by CBRE Manchester and Trowers & Hamlins on the deal. Candour represented itself and worked with Acuity Law on the deal.
So glad it looks like this will get built.
That part of Manchester used to be so pioneering when no. 1 Deansgate was completed years ago. The design of no. 1 Deansgate almost define Simpson’s studio.
It’s a shame that the Renaissance Hotel site did not get fully developed as proposed in previous proposals, as that would create much better connection between Deansgate and Victoria and Salford.
By Another Manc
If there was just one stalled project I could see built it would be this. Absolute gem of a building which references its surroundings. Jon Matthews design of Premier House will link this to the other side although that deserves to be two floors taller.
By Andrew
That does look a nice design and fitting for such a high profile location. Agree that the wholesale redevelopment of the site opposite including the hotel would have been better but that ship has sailed and demolition is already well underway on the site. Even the hole in the ground looks better than the decades old eyesore that has afflicted that particular corner. Should really look good in the next couple of years.
By Anonymous
Good news (potentially).
By MrP