{"id":518657,"date":"2021-07-28T04:03:07","date_gmt":"2021-07-28T08:03:07","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\/"},"modified":"2021-07-28T04:03:07","modified_gmt":"2021-07-28T08:03:07","slug":"st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\/","title":{"rendered":"St. Michael\u2019s Development Secures Investment from KKR for City Centre Scheme"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignl { text-align: left }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>St. Michael\u2019s Development Secures Investment from KKR for City Centre Scheme<\/b><\/p>\n<p class=\"bwalignl\">MANCHESTER, England&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nRelentless today announces a joint venture with KKR to deliver the St Michael\u2019s development in central Manchester. Initial work on the site is expected towards the end of the year in the commercial phase of the project.\n<\/p>\n<p>\nThe joint venture, KKR\u2019s first real estate investment in Manchester, will combine Relentless\u2019s local knowledge and operational expertise with KKR\u2019s capital and resources to deliver a best-in-class office space and new public realm for the city. The plans include significant investment in the latest green technology to create a 200,000 sq ft sustainable building, which reflects changes to working practices and has the health and well-being of its occupiers at the forefront of the design. KKR\u2019s investment was made through its $2.2bn second dedicated European real estate fund, KKR Real Estate Partners Europe II.\n<\/p>\n<p>\nThe first phase of development will see the former Bootle Street City Police Headquarters brought back to life and the refurbishment of one of Manchester\u2019s most historic pubs, the Sir Ralph Abercrombie, seamlessly blending the old and new within the scheme. Substantial public space will also be created, in the development of Abercrombie Square and a 20,000 sq ft roof terrace in the heart of the city, with impressive views overlooking the Grade I listed Town Hall and library.\n<\/p>\n<p>\nGary Neville of Relentless said: \u201cThe team has worked throughout lockdown to bring this project forward. St Michael\u2019s has been challenging but with the support of KKR we are looking forward to delivering this exciting project in Manchester. The Relentless team welcomes KKR to Manchester and can\u2019t wait to deliver what we know will be an exceptional space for our city.\u201d\n<\/p>\n<p>\nCharles Tutt, Head of UK Real Estate at KKR, said: \u201cThis is a unique regeneration project in a vibrant city. We have worked very closely with Relentless and the project team to get to this point and we look forward to delivering this exceptional development for the benefit of Manchester as businesses seek high-quality office space to meet their ever-evolving needs. This investment reflects our strategy and focus on investing behind best-in-class office projects and alongside expert local developers.\u201d\n<\/p>\n<p>\nAnthony Kilbride, CEO of Relentless said: \u201cThis moment is a catalyst to get the project on-site by the end of this year. The Relentless team and KKR have already done a lot of the groundwork needed to enable us to move the project forward quickly. Our teams are aligned on the vision to deliver a world-class sustainable commercial space and new public realm in the city and will be working on the final stages of design in the coming months.\u201d\n<\/p>\n<p>\nThe development has the full support of Manchester City Council.\n<\/p>\n<p>\nSir Richard Leese, Leader of Manchester City Council, said: \u201cNavigating the complexities of this development within the constraints of the site has undoubtedly been challenging, but we know the outcome is going to be truly transformational for this part of the city centre &#8211; with world class place making key to its success. This type of investment is the precise antidote we need in the city to balance the economic impact of the last year.\u201d\n<\/p>\n<p>\nJoanne Roney OBE, Chief Executive of Manchester City Council, said: \u201cManchester is a city of ambition, and we expect that same energy from our developers. St Michael\u2019s is oozing ambition &#8211; from the low carbon office space to the public realm. This is the sort of development that cities crave and the sort of investment that is vital to our swift economic recovery following the pandemic.\u201d\n<\/p>\n<p>\nThe first phase of St Michael\u2019s is expected to have a build period of approximately 2 years from starting on site. Later phases of St Michael\u2019s will enhance the hospitality offering in Manchester with a 5-star hotel and residential tower, with works expected to begin in 2022 once the hospitality sector has recovered from the impact of the pandemic.\n<\/p>\n<p class=\"bwalignc\"><b>ENDS<\/b><\/p>\n<p>\n\u00a0\n<\/p>\n<p><b>About KKR:<\/b><\/p>\n<p>\nKKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR\u2019s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR\u2019s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR &amp; Co. Inc. (NYSE: KKR), please visit KKR\u2019s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.kkr.com&amp;esheet=52467341&amp;newsitemid=20210728005378&amp;lan=en-US&amp;anchor=www.kkr.com&amp;index=1&amp;md5=912a07b9f93a7ba740a0b17a3381992c\">www.kkr.com<\/a> and on Twitter @KKR_Co.\n<\/p>\n<p><b>About Relentless:<\/b><\/p>\n<p>\nRelentless Developments is Gary Neville\u2019s development company and is the developer of the St Michael\u2019s project. In recent years it has completed Hotel Football and the Stock Exchange Hotel but its main focus has been the successful delivery of St Michael\u2019s. It intends to develop further opportunities once both phases of St Michael\u2019s are underway.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210728005378r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210728005378\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210728005378\/en\/<\/a><\/span><\/p>\n<p>\nFor more information, or for interview opportunities<br \/>\n<br \/>Roland Dransfield:<br \/>\n<br \/>E: <a rel=\"nofollow\" href=\"mailto:maria.murphy@rdpr.co.uk\">maria.murphy@rdpr.co.uk<br \/>\n<\/a><br \/>T: 0161 236 1122<\/p>\n<p>For KKR media enquiries:<br \/>\n<br \/>Alastair Elwen \/ Sophia Johnston<br \/>\n<br \/>Finsbury Glover Hering<br \/>\n<br \/>Telephone: +44 20 7251 3801<br \/>\n<br \/>Email: <a rel=\"nofollow\" href=\"mailto:kkr@finsbury.com\">kkr@finsbury.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United Kingdom Europe<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Finance Professional Services Commercial Building &amp; Real Estate Construction &amp; Property Urban Planning<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>St. Michael\u2019s Development Secures Investment from KKR for City Centre Scheme MANCHESTER, England&#8211;(BUSINESS WIRE)&#8211; Relentless today announces a joint venture with KKR to deliver the St Michael\u2019s development in central Manchester. Initial work on the site is expected towards the end of the year in the commercial phase of the project. The joint venture, KKR\u2019s first real estate investment in Manchester, will combine Relentless\u2019s local knowledge and operational expertise with KKR\u2019s capital and resources to deliver a best-in-class office space and new public realm for the city. The plans include significant investment in the latest green technology to create a 200,000 sq ft sustainable building, which reflects changes to working practices and has the health and well-being of its occupiers &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;St. Michael\u2019s Development Secures Investment from KKR for City Centre Scheme&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-518657","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>St. Michael\u2019s Development Secures Investment from KKR for City Centre Scheme - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"St. Michael\u2019s Development Secures Investment from KKR for City Centre Scheme - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"St. Michael\u2019s Development Secures Investment from KKR for City Centre Scheme MANCHESTER, England&#8211;(BUSINESS WIRE)&#8211; Relentless today announces a joint venture with KKR to deliver the St Michael\u2019s development in central Manchester. Initial work on the site is expected towards the end of the year in the commercial phase of the project. The joint venture, KKR\u2019s first real estate investment in Manchester, will combine Relentless\u2019s local knowledge and operational expertise with KKR\u2019s capital and resources to deliver a best-in-class office space and new public realm for the city. The plans include significant investment in the latest green technology to create a 200,000 sq ft sustainable building, which reflects changes to working practices and has the health and well-being of its occupiers &hellip; Continue reading &quot;St. Michael\u2019s Development Secures Investment from KKR for City Centre Scheme&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-28T08:03:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210728005378r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"St. Michael\u2019s Development Secures Investment from KKR for City Centre Scheme\",\"datePublished\":\"2021-07-28T08:03:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\\\/\"},\"wordCount\":930,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210728005378r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\\\/\",\"name\":\"St. Michael\u2019s Development Secures Investment from KKR for City Centre Scheme - 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Initial work on the site is expected towards the end of the year in the commercial phase of the project. The joint venture, KKR\u2019s first real estate investment in Manchester, will combine Relentless\u2019s local knowledge and operational expertise with KKR\u2019s capital and resources to deliver a best-in-class office space and new public realm for the city. The plans include significant investment in the latest green technology to create a 200,000 sq ft sustainable building, which reflects changes to working practices and has the health and well-being of its occupiers &hellip; Continue reading \"St. Michael\u2019s Development Secures Investment from KKR for City Centre Scheme\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\/","og_site_name":"Market Newsdesk","article_published_time":"2021-07-28T08:03:07+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210728005378r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"St. Michael\u2019s Development Secures Investment from KKR for City Centre Scheme","datePublished":"2021-07-28T08:03:07+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\/"},"wordCount":930,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210728005378r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/st-michaels-development-secures-investment-from-kkr-for-city-centre-scheme\/","name":"St. Michael\u2019s Development Secures Investment from KKR for City Centre Scheme - 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