Hermes Wastes No Time As MEPC Takes Development Manager Role At NOMA
The appointment is the first significant move since Hermes' pre-Christmas acquisition of the Co-op Group’s 50% share in the 4M SF Manchester scheme, and comes as speculation swirls that NOMA could scoop a significant pre-let to Amazon.
MEPC has previously worked with Hermes on the 1.5M SF Wellington Place office scheme in Leeds and the 250-acre Milton Park, Oxfordforshire.
In a statement making the announcement, Hermes responded to concern that the slow-moving NOMA scheme needed clearer marketing.
"As part of this remit, MEPC will be working to ensure that the NOMA brand, which encapsulates the scale and heritage of the scheme, permeates through the entire development encouraging forward-looking, technologically savvy businesses to join the range of occupiers already in place at the leading commercial hub," the statement said.
“The decision to appoint MEPC as developer at NOMA is in line with our long-term strategy for the development; to create a leading commercial hub in the heart of Manchester," Hermes Investment Management Head of Private Markets Chris Taylor said.
Hermes said with over 6,500 people already working in the NOMA neighbourhood, there is ongoing strong demand for high-quality office space in the region and it is fast becoming one of the best-connected business destinations in the country.
The next part of the development, the 91K SF Hanover refurbishment, is on track for completion in September.