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News Release

Manchester

Preferred development partner announced for Siemens’ development site in South Manchester


Manchester, 2nd April 2012 - In consultation with Manchester City Council (MCC), Siemens plc has selected Kier Property as its preferred development partner to enter into detailed negotiation for the future of its prime 20-acre Princess Road site in South Manchester.

Siemens employs 800 staff on the site and has plans to increase this to 1,200 people in three years via the development of offshore wind power transmission technologies. The investment and job creation is due to national and international investments in green infrastructure.

Siemens and MCC, working with Kier will now bring forward a mixed-use scheme primarily for commercial use. The scheme will be anchored by a new 100,000 sq ft office building for use by Siemens whilst the in situ Sir William Siemens House will be refurbished. The balance of the site will be developed in phases to provide new office, hotel and residential accommodation.
 
In addition to Siemens' growing anchor presence, the development will strive to harness Manchester’s market leading credentials in the fields of science and innovation; forging direct and indirect links with the region’s leading universities and knowledge based businesses in the sustainable sector. 

Siemens and Manchester City Council have recently secured Regional Growth Fund support to aid delivery of the wider development and work will now proceed to agree commercial arrangements to bring the scheme forward.

The scheme is subject to the board approval of Siemens AG.

Juergen Maier, Managing Director of Siemens Industry in the UK & Ireland, said: “We have selected Kier as our preferred partner to support us in realising our ambitious plans to develop our Manchester site into a real centre for sustainable technology and innovation to support the City's low carbon vision. The development will create a real focal point for the City and also help in attracting new business and engineering skills to the North West."
 
Adam White, Associate Director at Jones Lang LaSalle, who advises Siemens, added: “Kier has promoted a vision which, over time, will see this strategically important gateway site transformed into a “best in class” scheme. Its strong financial position will ensure that the scheme is able to gather early momentum.”

James Nicholson, Senior Development Manager at Kier Property, concluded: "The Princess Road site will act as a showcase for Kier Property’s capabilities and will provide a platform for further development growth in the Manchester region.  We are committed to delivering a scheme of the highest quality and one which complements and adds to Manchester’s innovation and technology focus.”

Notes to Editors:
Kier Property's commercial property arm has established itself as one of the UK’s leading developers. Its substantial portfolio spans a wide range of offices, industrial, retail and mixed-use schemes designed to accommodate today’s businesses and communities with tomorrow’s needs in mind.  Its impressive track record for delivering major schemes includes over 1 million sq ft of pre-let office developments.
 
With a growing emphasis on brownfield regeneration and mixed-use schemes, the company embraces sustainability, reducing the carbon footprint of its developments wherever possible.  This has led to the company being appointed developer on a number of high profile schemes and receiving many awards for its achievements.