HS2 Limited has signed an agreement with a property provider Bruntwood to acquire Square One on Travis Street for building Manchester’s new high-speed railway station in the UK.
This deal represents HS2’s second major property acquisition in the city centre in just more than one year after its acquisition of the Store Street site in April last year.
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The two sites have been bought by HS2 on behalf of the UK Department for Transport, and are considered crucial for the construction of the new high-speed station that will be built next to the current Piccadilly Station.
Manchester’s new station is expected to open between 2035 and 2040 and will feature six platforms at surface level.
The plan also feature a provision for a new four platform Metrolink station beneath the HS2 station.
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HS2 chief commercial officer Ruth Todd said, “Following submission of the Bill earlier this year, seeking powers to construct and operate the railway between Crewe and Manchester, this acquisition represents another major milestone in our programme to bring high speed rail to the North.
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By GlobalData“HS2’s purchase of Square One is a vote of confidence for investors locally and internationally to leverage the wider regeneration potential of the surrounding area, knowing that Manchester is set to become so brilliantly connected.”
A large part of the area near Piccadilly station is underdeveloped, thereby making it into a major place for investment in new commercial space, housing and public space.
HS2 stated: “The investment would see businesses, residents and visitors benefit from a 41-minute connection to Birmingham on HS2 (a 46-minute saving), with direct services from London Euston set to more than halve, cutting one hour and 12 minutes off the current fastest journey time.”
Bruntwood, which divested Square One site to HS2, plans to use the proceeds from the transaction to invest in the UK’s regional centres.
Initial work supporting the construction of the new Piccadilly high-speed station is not expected to start until at least 2025.
HS2 has agreed to leasehold terms with Square One’s current tenants to allow them to continue in situ until the site is needed.
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Image: Manchester’s new station is expected to open between 2035 and 2040 and will feature six platforms at surface level. Credit: chunleizhao from Pixabay.
