Schroders invests in City Tower refurb.6th June 2015
SCHRODERS has announced its plans to invest significant capital expenditure in a refurbishment of City Tower following its acquisition of the iconic Manchester asset last May.
City Tower, based in Piccadilly Gardens, will undergo a 25 week refurbishment, to renovate its 9,257 sq ft ground floor atrium and reception area.
Designed by ID:SR, the design arm of Sheppard Robson, the contemporary refurbishment will transform the entrance and reception area into a multifunctional environment providing both professional and social facilities.
The plans include an improved atrium space, a new business lounge, with bookable meeting space and booths, as well as additional catering and retail units.
Tom Newman, investment manager at Schroders, said: “Tenants want to inhabit well connected spaces with variety of offerings where they can entertain and impress clients or have an informal meeting with a colleague.
“Building on the success of the retail on New York Street, a key part of the scheme is looking at the organisation of the ground floor to enhance this opportunity.
“This is an initial step in our long term plan to enhance the offer at City Tower- with further phases of works planned both internally and externally.”
Marie Leyland, Associate from ID:SR, added: “A key part of the strategy for City Tower is to create a strong memorable design by connecting the interior to the external architecture.
“We have created a unique space aligning communal and professional areas which will appeal to both the building’s corporate and non-corporate tenants.
“We are looking forward to working with Schroders on this project and to work commencing on-site.”