North West Evergreen Fund has provided a three year funding facility of £45m for the development of 125 Deansgate in Manchester.

The development by Worthington Properties will provide 113,500 sq ft of Grade A office space in the heart of Manchester.

Russ Worthington, director of Worthington Properties, said: “Manchester continues to prove itself as a world class destination to do business and 125 Deansgate, when complete in 2019, will provide businesses with a great place to operate within.

“Securing the funding is testament to the quality of the proposals along with the high profile location of the scheme. These investors are incredibly astute and have to be confident the development would provide a return for them.

“They would have not provided the facility if they didn’t see the value in the development and we’re proud to be working in partnership with them on this. This funding will mean we are able to progress with speculatively developing the building.”

Construction will begin in early 2017 with plans for the scheme to be finished in summer 2019.

Cllr Kieran Quinn, Lead Member for Investment and Finance on the Greater Manchester Combined Authority said: "Deansgate is one of the busiest and most well connected corridors in the city centre, if not in the entire region. Enabling redevelopment of this site represents an excellent opportunity for the North West Evergreen Fund. The investment will provide both the returns that the fund needs to continue supporting regeneration projects and the social value for Greater Manchester in the form of jobs and a new first class office facility."