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New property development in Manchester as the stock exchange gets an overhaul

There’s always some kind of new property development in Manchester, but when it involves two Man United legends it certainly adds a little extra interest – and with the UK currently in the grip of World Cup fever, it seems appropriate to cover the latest footballer investment news! This particular new property development is an overhaul of the old stock exchange building in the city – and while the Grade II listed building has long been in the hands of Ryan Giggs and Gary Neville’s property development and restaurant group, GG Hospitality, plans for it have changed over the past couple of years.

Here’s a quick look at what the football duo are planning for this beautiful building…

Recent changes to stock exchange development team

It looked for a while like this development would include two restaurants, but with Michelin-starred chef Michael O’Hare leaving the group, GG Hospitality have re-worked the designs and will now only have one ground floor restaurant on the site, rather than the additional rooftop restaurant they originally planned.

Making the most of the grand nature of the building is a sign that they know what they’re doing, and plans to use the original trading floor under the domed roof is a great starting point for any world-class restaurant.

As of yet, it’s unclear what the style will be, but with such a spectacular location we have high hopes for it – but what about the space that the second restaurant was going to occupy?

Exciting rooftop development

Whereas this unique development in Manchester was earmarked to have a rooftop restaurant, the current plans are far more exciting and grandiose. GG Hospitality intends to build a new fifth floor roof extension that cleverly managed to be both modern and in keeping with the style of the building – something crucial with its Grade II listed status – and turn it into one massive penthouse suite.

Comprising of a 41 square meter roof terrace, massive open-plan living area with a suspended fireplace and three en-suite bedrooms, this penthouse is likely to be one of the most luxurious in Manchester.

The rest of the building will be taken up by a 41-room boutique hotel – a development that will also benefit from the roof extension, as the original fourth floor attic space is to be extended and converted into seven rooms.

Following the footballer trend in property development

In a previous article we talked about footballers making the move into property development, so it’s good to see another couple of great players using their money and acumen to invest wisely. Their plans are not without controversy however, with another development – the proposed £200 million skyscraper site in the centre of Manchester – receiving criticism for the potential damage it could bring to local heritage sites.

Whether this development goes ahead or not, they’ve already shown a willingness to be adaptable, try to develop local areas and create jobs. For example, in 2015 the stock exchange building was in the early stages of development when it became a temporary illegal home for around 50 homeless people. Gary Neville allowed them to stay over the winter at a cost of £150,000 – now that’s the kind of heart we like to see in developers!

As of yet, GG Hospitality hasn’t made it clear whether the penthouse apartment will be going on the market, but whatever happens this is set to be a truly exciting new property development in Manchester, and we’ll be keeping a close eye on progress.