JV explores development options after Manchester purchase
Peter Street Partnership, a joint venture between the Flood family office and BWS Developments, has acquired a pair of office buildings on Peter Street, close to the £400m St Michael’s development.
Currently providing 31,000 sq ft of office space, 29-31 and 33-35 Peter Street could be redeveloped into a new-build office or 162-bed hotel – both reaching nine storeys.
The partnership is currently considering its options and Conor Flood, asset and development manager for the Flood family office, said: “These buildings offer great potential in this rapidly evolving part of Manchester”
He added: “Despite being in a prime central location, the properties have historically been underutilised.
“There is fantastic potential for future redevelopment or refurbishment, and we are carefully considering our next steps to ensure that our proposal aligns with the ever-growing ambition of our exciting and fast-paced city.”
Colliers and Griffiths Eccles were appointed to market the buildings for £8m last year. A sale price has not been disclosed.
“We are delighted to have completed the acquisition of 29-35 Peter Street, a property I have had a long association with through the former owners,” said Brendan Flood.
“I initially engaged with them in the mid-2000s when assembling the St Michael’s site.”
While the Floods are well-known in Manchester property, BWS is less of a household name.
The company is owned by entrepreneurs and private investors Dean Cockett, Catherine Durris, and Frazer Durris.
Frazer Durris and Cockett previously founded energy specialist Businesswise Solutions, which was acquired by Inspired Energy plc in 2021.
Looking at your picture, one more cautionary tale to the follies of Seventies planning is set to disappear: the building is significantly set-back, meaning the buildings either side were expected to be demolished to allow for dual carriageways! Perhaps they should be listed instead as being of architectural importance, together with the complimentary buildings with first pedestrian walkways that have all but vanished now!
By M101
M101 are you out of your mind? You wanna save this derelict looking eyesore? It’s not exactly an architectural gem is it? I do think we need to preserve what we can but this isn’t it. Look at Island development and what it replaced, fantastic project. Peter Street features some of the finest architecture in Manchester, I say we need some modern building to compliment the old.
By Mike
Just look at the difference between the four buildings in this photo, one is clearly out of place.
By Liam
Great comment by M101. Now more room for pavement cafes. How times change.
By Anonymous