The UK’s largest dedicated property platform serving the growth of the innovation economy, Bruntwood SciTech, has unveiled a new Manchester city centre acquisition and shared first preview images of its ambitious redevelopment plans for Pall Mall. The announcement comes as it continues with momentum to create a £5bn portfolio by 2032 and increase its secured development pipeline to provide 8.4m sq ft of state-of-the-art workspace for the UK’s fastest growing sectors.
The Pinnacle, located in the heart of Manchester city centre, forms the next part of this ambitious strategy which has been designed to support the continued exponential growth of the science, tech and innovation sector in the UK.
A joint venture between property company Bruntwood, Legal & General, and Greater Manchester Pension Fund, Bruntwood SciTech has acquired the well-positioned workspace from Legal & General’s Asset Management division, who were acting on behalf of their client ReAssure Ltd.
Its addition to the portfolio also further cements Bruntwood SciTech’s commitment to the city, which boasts one of the largest innovation-led economies in the country, with its digital and tech ecosystem alone worth £5 billion. Currently, Bruntwood SciTech has over £314m of investment underway across Birmingham, Manchester, Leeds, and Liverpool, and is bringing to market 1.45m sq ft of state-of-the-art workspace for innovation-led businesses; for startups through to global HQs. In Manchester alone, it has £243m of investment committed and underway.
By adding further state-of-the-art workspace and infrastructure within this city centre innovation hub, Bruntwood SciTech is able to support even more tech and innovation-led businesses to collaborate and ultimately grow and thrive.
The Pinnacle, a Grade A asset, located on King Street, is set to become a further expansion to the company’s neighbouring location, Pall Mall, which itself is undergoing a major £30m redevelopment programme, due to complete in Summer 2025.
It offers 28,500 sq ft of workspace across 10 floors and as part of a planned second phase expansion and extension will become part of the Pall Mall scheme, in total offering more than 120,000 sq ft.
First look at Pall Mall
This next acquisition comes as neighbouring Pall Mall’s redevelopment progresses on at pace with around a year’s worth of works remaining on the transformation of the Grade II, 90,000 sq ft iconic building. Bruntwood SciTech has released a first look inside its exciting plans for the scheme, which includes a variety of stunning workspaces spanning Pay-As-You-Go and coworking lounges, all-inclusive serviced offices, and bespoke leased workspaces.
The hub will prioritise collaboration for the forward-thinking community based there with extensive break-out areas, and wellbeing and work-life balance with a free state-of-the-art gym and changing facilities, independent cafe, contemplation room, lounge and library space, secure EV charging points and a large cycle hub to encourage active travel. Topping off the unrivalled experience, those locating to Pall Mall and Pinnacle will be able to benefit from an impressive roof terrace offering panoramic views across Manchester’s skyline.
Also unveiled today is a new sneak peek at the public piazza, which is set to be named ‘Pollen Square’ in commemoration of one of the original architects Francis Pollen, of Brett, Pollen & Teggin. The name also celebrates urban biodiversity which will be increased in the city centre through the introduction of new biophilia at the site.
Ideal for socially conscious businesses to innovate and grow, Bruntwood SciTech’s commitment to achieving its ambitious environmental, social and governance (ESG) goals, also means that businesses moving into Pall Mall will be part of a community that prioritises sustainable growth. It will be net zero in construction, a best-in-class reinvention of an energy inefficient asset at the time of its construction, supported by the retention of the building’s original structure, which avoids the need for significant rebuilding works and save 7,900 tonnes of additional carbon emitted.
In addition, Bruntwood SciTech will also provide 100% renewable energy across all shared areas at Pall Mall and Pinnacle in keeping with its entire 4.8m sq ft portfolio, delivered through its £9.7 million investment in Kirk Hill Wind Farm in Ayrshire, Scotland.
Commenting on the new acquisition and unveiling of the first look inside Pall Mall, Ciara Keeling, Chief Operating Officer for Bruntwood SciTech, said: “Our acquisition of The Pinnacle and investment into Pall Mall once again reaffirms our commitment to the North West’s – and indeed the UK’s – innovation economy. By adding further state-of-the-art workspace designed to support the science, tech and innovation sector, we are creating even more opportunities for businesses operating within that area to collaborate and grow, and ultimately working towards our ambitious goal of creating a £5bn portfolio by 2032. The acquisition was also ideally positioned to cluster with existing Bruntwood SciTech workspaces in the city centre, bolstering the community and knowledge-sharing that is already taking place across our city centre innovation hubs.”
Businesses based at The Pinnacle and Pall Mall will also gain direct access to a UK-wide network of 1,100 like-minded businesses across Bruntwood SciTech’s community, spanning 31 city centre hubs and nine science and technology campuses, which in Manchester includes the recently completed workspace transformation of an iconic Grade II listed former Victorian bank – Bond, Bloc, 111 Piccadilly, Blackfriars, Circle Square and Manchester Science Park. They will also have access to Bruntwood SciTech’s growth support, including direct access to funding and investors, highly skilled talent, new markets, and an extensive academic, clinical and public partner network.
Those currently located in The Pinnacle, including the popular bar All Bar One, will continue to operate as normal during the redevelopment process.
LGIM was represented by Savills and Simmons & Simmons. Addleshaw Goddard acted for Bruntwood SciTech.
