The company leading the planned £70m transformation of the iconic former Debenhams store in Manchester city centre has issued a major update on the project.
The Rylands building on the corner of Market Street and High Street has been empty since the department store chain entered administration in December 2020. Debenhams was later bought by Manchester-headquartered fashion giant Boohoo but all its stores were closed.
Now global real-estate investment firm AM alpha has confirmed that work to redevelop the building into a mixed-use development comprising retail, leisure and office space will start next year.
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The upper floors of the grade II-listed building will be transformed into office space while a shopping arcade will be created on the ground floor. A four-storey extension will also be added.
Enabling works for the transformation of the vacant building have already begun, with main works scheduled to start in 2023 and completion expected in early 2025.
The news comes after plans for the £68.5m redevelopment were approved by Manchester City Council in January 2021.
The building had been originally constructed as a warehouse for textiles manufacturer Rylands and Sons in 1932 and became a department store in the 1950s.
Stephan Schmid, senior vice president at AM alpha, said: "Working with listed buildings is always a great privilege.
"We are proud to be able to give this historic Manchester landmark a new future and restore Rylands to its former glory in a very sustainable way. In this way, we are also helping to achieve Greater Manchester's 2038 carbon neutrality target."
Construction company Russell WBHO will act as a construction partner for the project while property companies OBI and Barker Proudlove have been appointed as letting agents.
Will Lewis, founding director at OBI, added: "It's fantastic working with AM alpha on such an exciting project in our home town. Rylands is a well-known, impressive building.
"The property is close to bustling areas such as Piccadilly Gardens and the Northern Quarter and will appeal to many local businesses. Due to the sought-after location, we already see a lot of interest from potential future tenants."
Gareth Russell, founder and managing director of Russell WBHO, said: "We are delighted to be working with AM alpha to revitalise the historic Rylands building and position it in the market as a highly sustainable building.
"With our extensive experience in historic preservation and sustainable building, we will make AM Alpha's vision a reality."
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