Hermes Investment Management, the £30.8 billion manager, has appointed MEPC as its development manager at the 20-acre NOMA development in Manchester. MEPC has been brought on board following an announcement at the end of last year that Hermes acquired the Co-op Group’s 50% share in the prime Manchester asset.
The primary focus for MEPC will be on the implementation of development projects at the mixed-use regeneration scheme, which comprises five separate new buildings. MEPC will also support Hermes on delivering new offices, hotels, retail and leisure as well as vibrant urban spaces.
As part of this remit, MEPC will be working to ensure that the NOMA brand, which encapsulates the scale and heritage of the scheme, permeates through the entire development encouraging forward-looking, technologically savvy businesses to join the range of occupiers already in place at the leading commercial hub.
The announcement will see MEPC and Hermes Investment Management further fostering a relationship that is already in place through their work together on Wellington Place in Leeds, Silverstone Park and Milton Park in Oxfordshire.
Chris Taylor, Head of Private Markets at Hermes Investment Management said: “The decision to appoint MEPC as developer at NOMA is in line with our long-term strategy for the development; to create a leading commercial hub in the heart of Manchester.
“We are confident that MEPC will bring its expertise and strong track record from other leading regional developments including Wellington Place in Leeds, and continue to develop a scheme which embraces the area’s past and heritage by featuring a unique mix of historic and new buildings. We hope to provide an attractive, well-connected and sustainable environment where people want to work, live and socialise.”
James Dipple, Chief Executive of MEPC added: “This appointment is an excellent opportunity for us to work alongside Hermes, delivering this first-class regeneration scheme in the heart of Manchester. We will continue to ensure that the NOMA brand is disseminated throughout the scheme whilst attracting a complimentary range of occupiers to sit alongside those already in place.
“Building on the improved infrastructure and public realm will remain of utmost importance and allow us to help create a development which benefits the local community and economy in the long term.”
With over 6,500 people already working in the NOMA neighbourhood, there is ongoing strong demand for high quality office space in the region and it is fast becoming one of the best-connected business destinations in the country. The next part of the development, Hanover, is on track for completion in September 2018.