Aviva Investors

Aviva Investors to forward fund Manchester's Eleven York Street

Aviva Investors has agreed to forward fund the development of an 85,000 sq ft Manchester office development after acquiring the freehold interest in the site from Kier Property.

The global asset management business of Aviva PLC and the development arm of Kier Group will now work in partnership to deliver Eleven York Street (pictured above).

The building has been designed by architects AHR and comprises seven upper floors of Grade-A office space and two ground-floor retail and leisure units, along with a basement car park.

Sitting within Manchester’s central business district, the site is the final piece of the city’s prime space for development in the Spring Gardens, York Street and Fountain Street area.

Due to complete in Q4 2019, the project will add to Aviva Investors’ growing Manchester portfolio with the businesses expected to build on its commitment to the region during 2018.

“York Street will represent our best specified office asset in Manchester and adds to a strong portfolio of space diversified by location and price point,” said Christian Anderton, associate director at Aviva Investors.

“Manchester, which is characterised by a lack of new Grade-A stock being delivered locally, forms a major part of our targeted cluster investment strategy.

“The marketing campaign for the scheme will launch imminently and break new ground in the viewing experience, enhanced by the building’s vertical design and resident lifestyle proposition.”

Tom Gilman, managing director for Kier Property (North), added that it was delighted to be working with Aviva Investors again.

“…We have developed and sold several schemes to Aviva Investors over the years and we are pleased that they have identified Eleven York Street in Manchester as a piece of prime commercial office space.

“We are continuing to look for further opportunities in Manchester, across all asset classes and see the area as contributing further growth to our fast-expanding plans in the North of England.”

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