Partner Article

NuGeneration chooses Piccadilly Place

UK Nuclear company, NuGeneration Ltd has taken space at Piccadilly Place in the heart of Manchester City Centre, as it continues its development project for a new nuclear power station in the North West.

The company has agreed terms on 16,218 sq ft of offices at The Carlyle Group’s Piccadilly Place as a North West base to progress its Moorside project in West Cumbria, where it aims to develop a new generation nuclear power station of up to 3.4GW. Moorside is a nationally significant infrastructure project which will help deliver Government ambitions of providing security of energy supply and supporting the UK’s climate change obligations.

Piccadilly Place also houses the Manchester offices of Weightmans, Barclays, NHS, EC Harris, Arup, Orega and Egencia. The latest letting leaves just 37,000 sq ft available across the scheme, with 13,000 sq ft at Three Piccadilly Place and 24,000 sq ft at Four Piccadilly Place.

Commenting on the deal, Ben Du Boulay, Director, The Carlyle Group said: “Following the announcement that EC Harris has expanded its operations, taking an additional 7,400 sq ft, it is great testament to the quality of space and location at Piccadilly Place that we have been able to secure another significant letting in such quick succession. We look forward to welcoming NuGeneration Ltd to Piccadilly Place.”

A NuGen spokesman said the company was looking forward to moving its current operations from London to Manchester.

“ Our Moorside project in West Cumbria would become the biggest nuclear development in Europe, and our planned reactors would supply the UK with up to 7% of clean, low carbon electricity for generations to come. We look forward to progressing our development plans in the North West.“

Stephen Downey of GL Hearn who advised NuGeneration Ltd further commented: “ Piccadilly Place being located so close to the Station was an important factor in our decision making process . Combined with building image, single floor plate and quality specification meant that 3 Piccadilly Place scored high in our selection criteria compared against competing buildings .“

Chris Cheap, Director at GVA, joint agents on the scheme with Savills, concluded: “Following a wide search of the Manchester market place NuGeneration Ltd quickly identified that Piccadilly Place’s efficient floorplates, quality specification and accessibility were unrivalled. The development has been one of the huge success stories in 2014 with well in excess of 100,000 sq ft being transacted. With a great deal of interest in the remaining space we hope to be making announcements regarding further lettings early in the new year.’

This was posted in Bdaily's Members' News section by Carlyle Group .