An expert team of lawyers at national firm Bevan Brittan have advised Manchester City Council on a deal that will see the transformation of two historic buildings in Manchester city centre into a new tech hub, with the potential to create over 1,000 new jobs.
The Grade II-listed Upper Campfield Market and Lower Campfield Market buildings have been leased to Allied London, who will repair, refurbish and fit out the buildings to create a new hub for tech, media and creative industries. Over a 15-year period it is anticipated that 1,600 jobs will be created and a further 2,400 jobs sustained.
The scheme uses £17.5m funding from the Government’s Levelling Up fund and will attract and support start-up, recovery and scale-up businesses in the tech, innovation and media sectors.
The Campfield market buildings will provide 83,000 sq. ft of modern workspace including 400 hot desks, plus meeting rooms, event spaces and other facilities, accessible on a permanent occupier or drop-in basis.
David Hobbs, partner at Bevan Brittan said: “The Campfield project will be transformative – both in terms of breathing new life into these historic buildings, and also the potential for business growth and job creation. The project shows how a local authority can look after and secure the future of an important asset for the community.
“Additional complexities in the deal included the surrender of a lease of one of the buildings, which had been let to the Science Museum and co-ordinating with the council’s in-house team who led on the Levelling Up funding applications.”
Bevan Brittan advised Manchester City Council on all aspects of the deal, including due diligence, the structure of the deal, construction warranties and contract negotiations, drawing on the expertise of a team of commercial property lawyers.
Bevan Brittan's experience is unrivalled in advising councils nationwide across all legal skills. Ranked as a tier one firm for local authority practice, Bevan Brittan prides itself on its practical, high quality and innovative advice, ensuring council’s receive bespoke solutions to meet their individual needs.