Commencing in a few short weeks, the ambitious £7 million redevelopment of Neptune Mill, a historic warehouse tucked behind Piccadilly Station, is poised to transform into a vibrant hub of ‘creative workspaces.’ The project, greenlit by Manchester City Council earlier this year, is now ready to break ground with funding in place, as developers Capital&Centric prepare for construction to commence next month.
The Grade II listed mill, dating back to the 19th century, is set for a comprehensive rejuvenation that will breathe new life into the Chapeltown Street locale. The meticulously planned 22,000 sq ft of workspace within the mill’s storied walls is expected to be operational by late summer. Anticipation is building, with expressions of interest already flooding in from businesses and café-bar operators eager to secure a spot in this upcoming cultural and commercial enclave.
Capital&Centric’s vision for Neptune Mill goes beyond mere renovation. The restoration will carefully uncover and showcase the mill’s original features, peeling away layers to reveal its majestic red brickwork and rustic timber beams. The commitment to preserving historical charm while fostering modern innovation underscores the project’s ethos.
One entire floor of Neptune Mill will serve as the new headquarters for Capital&Centric, anchoring their presence within the transformed landmark. Simultaneously, the ground floor is earmarked to house a café-bar, complete with an inviting outdoor landscaped courtyard, promising a dynamic space for both work and leisure.
The project’s momentum received a significant boost with a £3.8 million loan from the North West Evergreen Fund and the Greater Manchester Low Carbon Fund, expertly managed by CBRE’s Lending team. This injection of funds signals a shared commitment to repurpose obsolete structures into energy-efficient, contemporary workspaces, aligning with the broader vision for sustainable urban development.
Joint managing director at Capital&Centric expressed enthusiasm for Neptune Mill’s role in the burgeoning Piccadilly East neighbourhood. “Piccadilly East neighbourhood is expanding rapidly,” remarked the director. “Neptune Mill will further add to the fabric of the neighbourhood, bringing something different to the mix with creative workspaces packed with character and a café-bar on the ground floor that’ll be open to the public.”
The director believes that, given the evolving preferences of businesses in selecting workspaces, Neptune Mill’s distinctive character and eco-friendly features will be a compelling draw. “With businesses now being much more discerning about the type of workspace they want, we expect Neptune Mill will be a real draw for those looking to switch things up, particularly due to the building’s low carbon credentials.”
The executive director, lending at CBRE, emphasized the alignment of this project with the overarching goals of the North West Evergreen Fund and the Greater Manchester Low Carbon Fund. “This is exactly the type of project the North West Evergreen Fund and the Greater Manchester Low Carbon Fund was set up to support,” affirmed the executive director. “Turning obsolete buildings into modern, highly energy-efficient workspaces will be the catalyst for the continued development and growth of this exciting area of Manchester.”
As construction gears up to commence, the metamorphosis of Neptune Mill into a thriving center for creativity and commerce stands as a testament to the commitment to sustainable urban regeneration. The fusion of historical resonance with contemporary functionality promises to make Neptune Mill a landmark not only for Piccadilly East but for Manchester’s broader architectural and cultural landscape. Businesses and entrepreneurs seeking a space that seamlessly blends tradition with innovation need look no further than the eagerly awaited unveiling of Neptune Mill’s creative workspaces in the heart of Manchester.
