Northern Group, a prominent Manchester property firm, has successfully acquired 76 King Street, a landmark property known colloquially as the ‘DKNY building’, for an undisclosed sum. This acquisition marks the firm’s second major purchase in Manchester’s city centre within the last two months.
The Alfred Waterhouse-designed property, famed for its blood-red brick facade, seamlessly integrates into Northern Group’s expanding portfolio. The Grade II-listed building, occupying a significant island site at the junction of King Street and Essex Street, comprises six storeys and offers 41,414 square feet of office and retail space, alongside basement parking. The rooftop terrace provides picturesque views of Manchester Town Hall, another Waterhouse creation.
The departure of former designer tenants, DKNY and Belstaff, will pave the way for a new COLONY Coworking establishment, set to open in early 2025. This facility will be the second in the Manchester Central Business District and the eighth across the city for COLONY, Northern Group’s sister company and noted flex workspace operator. The newly acquired space at 76 King Street follows Northern Group’s recent acquisition of 19 Spring Gardens, covering 36,500 square feet, earlier this year.
At 76 King Street, COLONY has committed to a five-year lease for the ground and basement levels. The plans include event spaces, meeting rooms, and a variety of workstations, all featuring the high-end finishes, services, and facilities characteristic of the Flex Space brand. The upper four floors remain fully leased.
Paul Dobbs, COO of Northern Group, expressed enthusiasm about including 76 King Street in their portfolio, describing it as an ‘instantly recognisable’ building for many locals. He remarked, ‘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.’
Dobbs noted that this acquisition, along with their recent purchase within the city’s Central Business District, underscores their commitment to being active investors in Manchester’s property market. Since its inception in 2008, Northern Group has consistently focused on delivering exceptional and meticulously designed spaces managed to the highest standards.
The formation of COLONY in 2016 extended Northern Group’s ethos into the coworking sector, ensuring their expanding spaces frequently feature among the UK’s finest. Dobbs stated, ‘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.’
76 King Street is located in a vibrant area, surrounded by renowned brands and businesses, including Rolls Royce, El Gato Negro, Vivienne Westwood, Gordon Ramsay’s Lucky Cat, and Gotham Hotel. The building’s ground floor will undergo a comprehensive refurbishment to align with Northern Group’s contemporary standards and high design and functionality expectations, significantly enhancing COLONY’s offerings at this site.
The acquisition of 76 King Street signifies Northern Group’s strategic expansion into Manchester’s city centre, reflecting their ongoing commitment to quality and innovative property solutions. This landmark building is poised to become a vibrant coworking hub, contributing to the dynamic business environment in the area.