Manchester-based Northern Group has delivered the mixed-use, build-to-rent property One Silk Street, which brings nine storeys of cutting-edge apartments and workspaces to Manchester’s city centre. Located in the heart of the former industrial powerhouse of Ancoats, an area that has benefitted greatly from the group’s regeneration works, the building juxtaposes its heritage-honouring design with modern city centre living and, flexible, affordable office spaces.
Made up of 70% high-specification residential apartments and 30% modern coworking spaces, One Silk Street was self-delivered by Northern Group. Its design was carefully considered through feedback from technical consultants, input from heritage experts and extensive dialogue with Manchester City Council. The development adds to the property management company’s growing number of large-scale residential and commercial properties in the city centre, which also includes Flint Glass Wharf, Ice Plant and Jactin House.
Northern Group has built and operated many of the well-known buildings that have aided Ancoats’ recent revival – a movement which the group kickstarted, turning it into one of Manchester’s most sought-after neighbourhoods. One Silk Street sits in the centre of it all, showcasing Northern Group’s desire to continually invest in and expand the area’s commercial and residential infrastructure.
Designed with the city’s young professionals in mind, its coworking spaces are managed by Northern Group’s sister company Colony. In a uniquely collaborative approach to the project, Colony designed the commercial spaces and the working experience it offers members, which Northern Group made a reality. One Silk Street becomes the fourth Colony site that the Northern Group has delivered.
Colony properties are designed to support and develop Manchester’s thriving industries and communities by being more than just a workspace. It hosts networking events, featuring interactive sessions to encourage community and collaboration between tenants and rooftop yoga for mental and physical wellbeing. Membership cards offer exclusive discounts to members, further supporting local businesses. It also runs digital profiles on the businesses of tenants as well as unique guides to the city and its culture.
Northern Group, established in 2008, has built a portfolio an extensive office space alongside 500 residential units in Manchester and the surrounding areas. One Silk Street represents the group’s second-largest city centre development, totalling 110,000 sq ft. The building adds to Northern Group’s extensive investment into Ancoats, helping define it as one of the city’s hotspots for living, working and dining. Ancoat’s regeneration has contributed to Manchester’s 8.9% employment growth with Colony’s expanding network of coworking spaces representing valuable community facilities.
Paul Dobbs, chief operating officer at Northern Group, said: “Demand in the city vastly outweighs the supply of build-to-rent properties, despite Manchester being one of the UK’s biggest build-to-rent hotspots. It makes One Silk Street an important addition for the city’s plethora of creatives and independent businesses, delivering modern working facilities for the next generation of Manchester enterprises.”
“Ancoats is a greatly improving and unique area. Its important facilities like One Silk Street exist to support its professional residents and establish an inclusive community.”
The community environment embedded into Colony’s network offers One Silk Street’s commercial tenants the opportunity to grow their clientele, colleagues, co-workers and collaborators. It’s a model that has a resounding success at Colony’s other sites, facilitating this expansion to its portfolio.
Outside, One Silk Street offers important amenities for the working environment, including 21 Car parking spaces and five EV Charging points. Safe and secure bike storage facilities accommodate sustainable travel for commercial tenants and residents, alongside 27 storage units.
Those amenities are further complimented by both private and communal outdoor spaces, terraces for commercial residents on the first floor and private terraces on the eighth floor. It also boasts a 10,000 sq ft roof terrace, with 360-degree panoramic views of Manchester City Centre, the West Pennines, and the Peak District. They represent major selling points of the property.
Northern Group prides itself in both new builds like One Silk Steet, as well as revitalising historic Manchester sites, creating contemporary build-to-rent spaces which deliver unique, in-demand amenities to the surrounding areas. One Silk Street is no different, with the developers bringing a differentiated product to the fast-rising Ancoats area, attracting new residents and office users alike. One Silk Street’s office space is now 77% occupied, with the rest of the Colony portfolio 80-95% occupied, highlighting the demand for workspaces in the city which support its creative and entrepreneurial communities. The new multi-use development meets a double-edged demand for living and working spaces in the area.
