Manchester property outfit Northern Group has announced the acquisition of 76 King Street, known for years as ‘the DKNY building’. This marks its second prime city centre acquisition in just two months.
Bringing the landmark Alfred Waterhouse-designed, blood-red brick building into Northern Group’s portfolio represents a significant expansion for the firm. This move takes its renowned high-quality commercial and residential spaces from its Ancoats base to the heart of Manchester city centre.
The Grade II listed building occupies the majority of an island site at the corner of King Street and Essex Street. It comprises six storeys that include 41,414 square feet of office and retail space, basement parking, and roof terrace views across to Manchester Town Hall, another Waterhouse creation. Its former tenants, DKNY and Belstaff, will be replaced by a new COLONY Coworking location, expected to open in early 2025. This will be the second Central Business District location for COLONY in Manchester and its eighth across the city, following the acquisition of 36,500 square feet at 19 Spring Gardens in June.
At 76 King Street, COLONY has signed a five-year lease for the ground and basement floors. These spaces are expected to feature event areas, meeting rooms, and a variety of workspaces, maintaining the signature high-end finishes, service, and facilities of the Flex Space brand. The building’s four upper floors are fully leased.
Northern Group COO Paul Dobbs commented, ‘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 stated, ‘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.’
76 King Street is neighboured by some of Manchester’s most well-known premium brands and businesses, including Rolls Royce, El Gato Negro, Vivienne Westwood, Gordon Ramsey’s Lucky Cat, Gotham Hotel, Bupa, and Avison Young. This area is experiencing a resurgence as a dynamic and desirable part of the city centre.
The ground floor will undergo a comprehensive refurbishment to meet contemporary standards, focusing on high-quality design and functionality. This will elevate COLONY’s offering at the site. The distinctive building, created by Waterhouse between 1888 and 1896, features blood-red bricks and terracotta with grey granite, a deep rectangular footprint with an arcaded ground floor, and arched windows.
This acquisition underscores Northern Group’s commitment to expanding its influence in Manchester’s property sector, aligning with its ethos of providing high-quality, thoughtfully designed spaces. The new COLONY Coworking location at 76 King Street is set to further enhance the dynamic atmosphere of the area.
