Trowers & Hamlins is delighted to have acted for youth charity 42nd Street on the acquisition, development agreement, leasing and reï¬nancing for its new-build headquarters in Manchester, which was recently named "Building of the Year" by the Greater Manchester Chamber of Commerce.
The Space Youth Intervention Centre, located on Great Ancoats Street, was honoured by the Chamber at its annual property dinner held at the Midland Hotel on 11 October 2012.
Manchester-based Trowers & Hamlins partner Paula Hamer led the property team that advised on all aspects of the land acquisition, development agreement, new lease and complex reï¬nancing of the project, together with Senior Associate Kate Bouchier.
Paula Hamer, commercial property partner at Trowers & Hamlins, commented: "This is a great result for 42nd Street. This project was successfully delivered, though at times it seemed the odds were stacked against us. Despite the numerous obstacles we had to overcome, from the building being listed and located within a conservation area, to having to re-ï¬nance the project twice due to loss of funding during the construction stage, the centre is now helping countless young people in the Manchester area. It just goes to show what you can achieve for the local community when professionals work closely together, and I am honoured to have been a part of that team."
To deliver the Space Youth Intervention Centre, Trowers & Hamlins collaborated closely with The Connectives, specialist consultants who help commercial companies leverage social outcomes and social businesses achieve commercial outcomes, and strategic property and environmental advisors Custard Pie Properties. The Connectives led on the development work undertaken with 42nd Street's young people, staff and trustees to create their vision for the future, whilst Custard Pie Properties was responsible for directing and delivering a unique construction process that culminated in this building.
Vera Martins, CEO of 42nd Street, said: "When we began the journey of creating a capital asset for the charity and an anchor for young people using our services, it felt like a step into the unknown. By developing strong working relationships with all our advisors on this project, the impossible became the possible. Bringing together the right forces enabled us to go above and beyond what we could have achieved in isolation. This fantastic building reflects the vision and aspirations of young people and embodies everything that our charity is about."
42nd Street is a charity that provides support services to young people aged 13 to 25 who are under stress and experiencing mental health problems. The charity assists youth living in Manchester, Salford, and Trafford and Tameside and provides counselling, individual support, group work and volunteering opportunities.
The innovative design for the Space Youth Intervention Centre was created by architect Maurice Shapero working with Bolton's Bradshaw Gass & Hope. In order to win the Building of the Year award, the £750,000 project fought off stiff competition from the Co-operative Group's new £150m headquarters at Angel Square, Ronald McDonald House, Chetham's School of Music, as well as the Essa Academy in Bolton.
The Space Youth Intervention Centre also collected the Manchester Society of Architects Award in May this year.