Gary Neville and Ryan Giggs net permission to turn historic Stock Exchange into boutique hotel
New venture will feature 35 bedrooms, basement gym and spa, roof-top private members' terrace and ground-floor restaurant
Gary Neville and Ryan Giggs have added another success to their burgeoning property empire, the M.E.N. can reveal - after netting permission to turn Manchester’s historic Stock Exchange into a boutique hotel.
The Grade II-listed Norfolk Street site will feature 35 beds, a basement gym and spa, roof-top private members’ terrace and ground floor restaurant and bar, currently occupied by eaterie Stock.
It comes after they last week granted a sneak preview of Hotel Football, their four star development next to Old Trafford - due to open this weekend.
But this latest venture will not be football-themed, the M.E.N. understands.
An image released to the M.E.N. show the current building, with a CGI showing how the rooftop terrace would look.
The main restaurant and bar will be open to the public - but the roof terrace and a banqueting space will cater to private members.
It will also be available as a wedding and conference venue.
The milestone comes two years after the United stars-turned-property gurus snapped up the landmark building for £1.5m - widely considered a bargain. In 2004 it had been valued at £4.7m.
Their application, approved by council officers on Friday, says: “We believe this overall proposal brings a historical piece of Manchester back into existence to be experienced and enjoyed inclusively by the public.”
The move is the latest in a string of high profile developments in the former Reds stars’ ever-growing property portfolio.
Their £24m Hotel Football at Old Trafford is due to open on February 28 and is eventually expected to be rolled out as a national brand.
Meanwhile the pair have also entered a joint venture with the town hall to redevelop the area around Jackson’s Row in the city centre, which will include a mix of bars, shops, offices and restuarants.
Gary Neville’s property consultancy Zerum also acted as agents for the latest application.
Mike Ralph, partner and head of the planning function at Zerum said: "This planning approval creates an important ‘platform’ for our client to finalise its operational requirements before hopefully pressing on with the implementation of what is an exciting scheme for this important city centre property.”
The former stock exchange was built in 1906 and in fact replaced the city’s former facility on Cross Street - where the Royal Exchange theatre stands now.
Currently it houses the restaurant Stock at ground floor level - although the eaterie has been closed for some time - and has housed offices on the upper floors.
English Heritage have declared its support for the move.