Property Alliance - Offices Development - Manchester, Norwich Union House

Date: 17 Apr 2003

Property Alliance Group has just received consent for their redevelopment of the former Norwich Union House on King Street, Manchester.

Already rebranded the Pinnacle on King Street, planning permission for a sympathetic development has followed lengthy and detailed discussions with both English Heritage and the Conservation Officer. For, whilst the Pinnacle itself is not listed, it sits within the Conservation Area and most of the surrounding buildings are protected.

Alliance now plan to press ahead with a multi-miltion pound refurbishment which will see King Street's skyline enhanced with the addition of two further floor plates and the existing faCade enhanced by the installation of new glazed curtain walls. This will see the property increasing from the existing 9 floors and 18,400 sq ft as purchased from Norwich Union some years ago, to 11 floors and 22,000 sq ft of contemporary office accommodation.

The completed development will be retained within the Alliance portfolio currently approaching £100millon
Russells Construction will undertake the refurbishment scheduled to start on-site on May 15th, occupation will be early 2004. The faCade is to be significantly enhanced with the removal of much of the existing white Portland Stone, which will be replaced by a more contemporary material.

This coupled with a new entrance and the commanding views afforded from the new floors over the
Manchester skyline, will provide the City with-some of the highest quality accommodation in what is
still regarded by many as one of Manchester's premier addresses.

Commenting on the planning consent Nick Pentith, Director of Property Alliance said, 'Our planned
refurbishment of the Pinnacle accords very much with the City Council's desire to see the Central Financial Core maintained and enhanced. We hope our proposals for the Pinnacle act as a catalyst for others'.

Letting agents are Knight Frank and Lambert Smith Hampton.

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