Regeneration developer Capital&Centric has bought a historic Manchester warehouse for its new headquarters.
The company has acquired Chapeltown Warehouse in an off-market deal for an undisclosed sum. The building adjoins its owner occupier community at Crusader Mill on Chapeltown Street.
The firm plans to transform it into 20,000 sq ft of work space for creative industries. A total of 25 of its employees will be based there.
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The work spaces will be split over four floors of the mill, with the plan to turn the ground floor into a café bar and social hub for businesses and residents from the surrounding community.
Dating back to the mid-19th century, the building was previously part of Manchester’s textile industry.
Capital&Centric co-founder Adam Higgins said: "We were early investors in the Piccadilly East neighbourhood as we knew it could be something special. Years later, it’s still growing in popularity and we’re plotting our next restoration.
"Chapeltown Warehouse is the missing piece of the puzzle in that block, a rundown former textile mill in need of a decent future.
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"To be successful, it’s important that new parts of the city aren’t just full of apartments. We’ve already delivered the Jenga hotel and now we want to add the workplaces and ground floor coffee shop to ensure that Piccadilly East is vibrant and active during the day too.
"Whilst we’ll keep all of the historic features like the cast iron beams and exposed brickwork, of course we also want to give it the trademark Capital&Centric design edge too."
The company added that it is expected the workspaces will be ready to welcome their first occupiers in 2023. However, it is not yet known whether planning permission will need to be sought.
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