Capital & Centric Set To Redevelop East Manchester Mill
Plans have been approved to redevelop Neptune Mill in Piccadilly East, Central Manchester. The Grade II listed building will be renovated by the developers Capital & Centric, who are behind several other recent developments in the city, Place NorthWest reports.
The project will be supported by a £3.8 million loan from the North West Evergreen Fund and the Greater Manchester Low Carbon Fund. The building on Chapeltown Street will be restored to maintain many of its original features, and will provide new office space and creative workspaces, as well as acting as the headquarters for the development firm.
Piccadilly East has already been the subject of extensive regeneration in the city and is earmarked as an up and coming neighbourhood. There are several residential and recreational developments nearby, including the Leonardo Hotel.
Tom Wilmot, Joint Managing Director at Capital&Centric, said: “Manchester’s Piccadilly East neighbourhood is expanding at a rate of knots. We’ve already built 200 homes, a hotel and a new public square, and other developers are on with surrounding plots.”
“We were early investors here and plan to locate our new HQ in the restored and repurposed Grade II listed building, just next door to our Crusader community.”
He added: “Neptune Mill will further add to the fabric of the neighbourhood, bringing something different to the mix with creative workspaces packed with character and a café bar on the ground floor that’ll be open to the public.”
“Piccadilly East is really blossoming and, with businesses now being much more discerning about the type of workspace they want, we expect Neptune Mill will be a real draw for those looking to switch things up, particularly due to the building’s low carbon credentials.”
Will Church, Executive Director, Lending, CBRE added:
“This is exactly the type of project the North West Evergreen Fund and the Greater Manchester Low Carbon Fund was set up to support; taking obsolete buildings and turning them into modern, highly energy efficient workspaces, which will be the catalyst for the continued development and growth of this exciting area of Manchester.”
Neptune Mill on Chapeltown Street was formerly known as Chapeltown Mill and dates back to the 1860s, when it was constructed as part of the Crusader Works complex. The vacant mill was most recently used as offices and was previously a packaging warehouse.
Elsewhere, the developers Bennetts have put forward plans for a high-rise hotel in Manchester which will cost £90m and would deliver 251 hotel bedrooms over 32 storeys. The building is planned for a vacant site near Piccadilly Station and the disused Union Building Bank.
The building is described as the UK’s first ‘net zero tower’ and will have an angled glass roof and a low embodied carbon level.
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