The Co-operative Group unveils 4m sq ft of ‘socially responsible’ development at MIPIM 9 March 2011 Cannes: The Co-operative Group has today revealed its detailed plans for an unprecedented, mixed-use city centre redevelopment that will transform Manchester’s Northern Gateway into a remodelled and enlarged district, to the international property community.
The new district at the heart of one of Europe’s top twenty cities will be regenerated under the name NOMA.
The £800 million project is set to transform 20 acres of Manchester City Centre’s heartland into a development like no other, providing 4m sq ft of office, retail, residential and leisure space.
The scheme is being built on land owned and assembled by The Co-operative Group, the world’s largest consumer co-operative, which today said it was initiating talks with possible joint venture partners about participation in the 10-15 year development programme.
The master planned scheme has approval from the city authorities and is already underway with the construction of The Co-operative Group’s 400,000 sq ft new head office building and combining the city’s recognised strengths in commerce, culture and community with the values and principles that set The Co-operative Group apart.
Speaking today at MIPIM, the major international property event held annually in Cannes, Martyn Hulme, Managing Director, The Co-operative Estates, said NOMA will take advantage of The Co-operative Group’s unique land ownership in the city centre to deliver a regeneration project like no other.
“Manchester is a great place to live and work with an innovative commercial community; however, like most cities it has suffered disappointment as the downturn in the economy has affected many developments across the city. The Co-operative Group has the strength and capability to deliver NOMA and confirm Manchester’s position as the UK’s original modern city, and confirm its position in the European premier league of cities.
“NOMA will be a city district like no other. Firstly because it is rooted in Manchester - the UK’s second city and one that is growing in strength as a centre for key industries like media and financial services. Secondly, it has been built on a socially responsible vision which will encompass ethical business practice in the way in which it is built and operated, thanks in large part to the heritage and progressive approach of the Group,” Mr Hulme 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. Its retail and leisure offer will add to the variety already available in Manchester and be focused on independent, high quality businesses. Similarly, the residential component will widen the choice available in the city centre, with family housing a key part of the mix, NOMA will importantly be underpinned by the world’s largest consumer co-operative.”
Construction of the new landmark head office building for The Co-operative Group is well under way, with completion scheduled for September 2012.
Mr Hulme said NOMA will firmly position Manchester as the first choice for business in the UK outside London, building on existing clusters of global head offices, media enterprises, professional and financial services.
“Currently the sole developer on the project, we will be using the MIPIM stage to discuss the NOMA vision with other potential partners eager to share in our vision and values.”
He said that Manchester’s potential has already been identified by UK companies, with 65 FTSE 100 companies now having a presence in Greater Manchester and around 40% of the North West’s Top 500 companies based in the city region.
“A host of overseas companies already have a strong presence in Manchester and are seeing its overwhelming potential. We will look to build on that, offering a vibrant and accessible UK location with strong connectivity throughout Europe,” Mr Hulme said.
NOMA will feature a number of environmental and social innovations:
- It will generate all of its own power, with a renewable energy centre providing for all of its needs through a smart grid.
- It will be integrated into the existing transport network, with tram, rail, bus and road connections all immediately adjacent to the site.
- NOMA will provide a reminder of the city’s deeply established role as a place of global innovation.
- It will leverage Manchester’s roots as the cradle of the industrial revolution – meaning NOMA will build on what is already great about Manchester.
- The commitment that The Co-operative Group has shown to promoting apprenticeships, skills and training through its new head office build programme will continue through the development of the whole master plan.
Mr Hulme said that by showing that such commitments improve profits and drive success, NOMA will be the first scheme to truly demonstrate a better, responsible way of doing business. With the strategic plan for the project having already been approved and the first phase of the construction process underway, the entire Masterplan will be completed over 10-15 years.
The next phase of development as part of NOMA will be improvements to nearby road and utilities networks and the first phase of the district’s public realm
NOMA is the mixed-use redevelopment project being led by The Co-operative Group. It will transform Manchester’s Northern Gateway into a remodeled and truly mixed use area anchored by large corporate office occupiers, retail, residential and leisure uses and home to a broad range of SMEs. NOMA will be built at a cost of £800m over 10-15 years on land owned by The Co-operative Group in Manchester’s northern pocket.
The Co-operative Group’s principle of ‘profit for a purpose, putting people and communities first’ is at the heart of NOMA.
NOMA was selected as a unifying name for a new Manchester district after a thorough branding exercise by specialist consultants Landor. It is a new name for a place, and, over the planned 10 – 15 year period the people of Manchester will see a distinctive area emerge, worthy of its own name and identity. While it reflects the site’s location, NOMA is not intended to convey a specific meaning but instead to unify a particular area of central Manchester.
Bronwyn Daly: Weber Shandwick
+44 (0) 20 7067 0729
Claire McLauchlin: Weber Shandwick
+44 (0) 161 238 9425