In a significant move, Northern Group has acquired 76 King Street, widely recognised as the ‘DKNY building,’ in Manchester’s city centre for an undisclosed amount. This acquisition marks the firm’s second prime city centre purchase within two months.
This landmark acquisition of the Alfred Waterhouse-designed blood-red brick building underscores Northern Group’s rapid expansion beyond its Ancoats roots into the heart of Manchester’s commercial district. The Grade II-listed building, which dominates a corner site on King Street and Essex Street, comprises six storeys offering 41,414 sq ft of office and retail space, basement parking, and a roof terrace with views towards Manchester Town Hall, another Waterhouse creation. Former tenants DKNY and Belstaff will be succeeded by a new COLONY Coworking location, set to open in early 2025.
COLONY, Northern Group’s sister company and a flex workspace operator, has secured a five-year lease for the ground and basement floors of 76 King Street. The refurbished space will include event venues, meeting rooms, and flexible desk options, all adhering to the high-end finishes and services associated with the Flex Space brand. The building’s upper four floors are already fully let.
Paul Dobbs, COO of Northern Group, expressed his excitement about the acquisition, stating, ‘Northern Group is a distinctly and proudly Manchester-born and based 360-degree property company with a trusted reputation for our top-end development, management and residential and commercial spaces. As such, we are really excited to bring 76 King Street into our property portfolio. This is a special building, instantly recognisable to many Mancunians and its intricate, listed architecture and superb location aligns with our ethos to create, retain and operate outstanding spaces to work and live in vibrant parts of the city.’
He further added, ‘This is our second acquisition in the city’s Central Business District inside two months, with back-to-back deals that solidify our position as active investors in the Manchester property scene. Since Northern Group’s inception in 2008, we have maintained a steadfast and ongoing commitment to delivering exceptional, thoughtfully designed spaces that are managed to the highest standards for our clients. The creation of COLONY in 2016 translated this same ethos into flex and coworking provision, ensuring our rapidly expanding spaces frequently find their way onto lists of the UK’s best. Putting our high-quality spaces and management into the heart of Manchester city centre feels great and we’re thrilled to be the company to bring 76 King Street into its new era.’
The neighbourhood of the 76 King Street building is renowned for housing some of Manchester’s most prestigious brands and businesses, such as Rolls Royce, El Gato Negro, Vivienne Westwood, Gordon Ramsey’s Lucky Cat, Gotham Hotel, Bupa, and Avison Young. This area is experiencing a resurgence, becoming a highly sought-after part of the city centre’s core.
The ground floor of the building will undergo extensive refurbishment to align with Northern Group’s contemporary standards and high-quality design expectations. This renovation will elevate COLONY’s offerings at this site. The structure, created by Waterhouse between 1888 and 1896, is noted for its distinctive blood-red brick and terracotta, complemented by grey granite. Its deep rectangular footprint and arched windows contribute to its architectural distinction.
The strategic acquisition of 76 King Street by Northern Group is set to enhance the city’s landscape, providing premium office and coworking spaces that reflect the company’s commitment to high standards and thoughtful design.