Aviva Investors, owners of Corn Exchange Manchester has begun the search for an operator to run a planned boutique hotel in the historic Grade II listed building.
If successful, the new hotel will form a part of the £30m leisure redevelopment programme, which will also see 13 new independent restaurants open in spring 2015 to join four more of the current restaurants that will be retained.
The 86-room hotel will form a central element to the redevelopment of the building, which will have principle frontage to Exchange Square, with guest accommodation to the upper floors.
Owners Aviva Investors and Queensberry Real Estate have appointed leasing agents Jenics to manage enquiries from potential operators.
Simon Green, asset manager at Aviva Investors said: "We are committed to the full redevelopment of this remarkable building. The vision is to create a new legacy destination for the city that will cement its future fortunes and act as a catalyst for an even more exciting regeneration of this part of the city centre."
Commenting on the progress of the redevelopment project, Stuart Harris partner at Queensberry Real Estate said: "We've been encouraged by the overwhelmingly positive response to our plans since announcing in late 2013. We are under offer on eight of the 13 exciting new restaurant spaces and the new boutique hotel could prove to be the icing on the cake for this landmark development."
Specific features of the proposed hotel would include a dominant feature in the stone arch entrance to Exchange Square, double height lobby and exposed Edwardian features, a breakfast room and lounge overlooking Exchange Square, plus service lifts to all floors.
"Our research also tells us that even with the combined planned hotel openings, Manchester is still identified as having a shortage of such an offer, this could be a very exciting opportunity for the right partner and we're very interested to start discussions with interested parties", said Green.