Cushman & Wakefield Joins DTZ’s Major Upgrade of Manchester’s Prime King Street Portfolio 2026

Key Points

• DTZ Investors, a global real estate investment manager and largest landlord on Manchester’s King Street, has appointed Cushman & Wakefield as a second property consultancy for its portfolio revamp.
• This follows prior mandates and builds on a £3.5 million to £6 million residential conversion project at 58-66 King Street, approved by Manchester City Council, introducing 24 luxury one- and two-bedroom apartments for rental.
• The scheme, designed by AEW Architects and managed by RECOM Solutions, converted 24,000-24,400 sq ft of former retail and office space in a Grade II listed building into Kingsgate House, with works starting in Spring 2022 and practical completion around Q3 2023.
• Cushman & Wakefield joins existing efforts to transform the iconic retail thoroughfare, known for luxury shopping, amid ongoing enhancements to the area.
• Urban Bubble handles property management and rental launch for the new apartments.
• Site works commenced on the residential scheme as reported in property round-ups.

Manchester(Manchester Mirror)May 11, 2026 – DTZ Investors has mandated Cushman & Wakefield, a global property consultancy, to its King Street portfolio as part of a major revamp of this prime Manchester retail thoroughfare.

The appointment marks a strategic addition to the investor’s efforts to elevate one of the city’s most prestigious shopping destinations. As the largest landlord on King Street, DTZ Investors aims to enhance the portfolio through expert consultancy support.

What is DTZ Investors Planning for King Street?

King Street, famed for its luxury retail outlets, now sees DTZ Investors advancing reconfiguration plans. As reported by CoStar News in their article “DTZ Investors plots revamp of major Manchester retail thoroughfare,” the firm has brought on Cushman & Wakefield to bolster its management of the area.

This second consultancy mandate complements prior initiatives, including a significant residential introduction to the street. In a January 2022 announcement on its own site, DTZ Investors detailed planning approval from Manchester City Council for 24 apartments at 58-66 King Street.

The project involves refurbishing three historic buildings, adding a new entrance, ancillary spaces at ground and basement levels, high-end finishes, and updated mechanical and electrical services. Work was slated to begin in Spring 2022, with completion targeted for Q3 2023, at a cost of circa £3.5 million over 12 months.

Which Properties Are Targeted in the Revamp?

The focus remains on 58-66 King Street, rebranded as Kingsgate House following a £6 million redevelopment. BuzzManchester reported the completion of this transformation, converting 24,000 sq ft of Grade II listed former offices and retail into 24 luxury one- and two-bedroom flats across four floors.

As detailed by RECOM Solutions, project managers for DTZ Investors, the scheme introduces city centre living to lower King Street for the first time. Urban Bubble, the property management firm, was set to launch rentals shortly after completion.

Property round-up coverage by TheBusinessDesk.com confirmed on-site works starting on the 24-apartment scheme, involving 24,400 sq ft and a £5 million commitment from DTZ Investors.

Who Are the Key Players Involved?

DTZ Investors leads as the global real estate investment manager owning substantial holdings on King Street. AEW Architects designed the residential conversion.

RECOM Solutions oversaw the Kingsgate House project execution. Cushman & Wakefield’s new mandate expands the consultancy team for the broader portfolio revamp.

Urban Bubble manages the residential lettings. Manchester City Council granted the necessary planning approvals.

When Did the Residential Project Begin and Complete?

Planning approval came ahead of a Spring 2022 site start, as stated in DTZ Investors’ news release. The 12-month timeline pointed to Q3 2023 practical completion.

BuzzManchester confirmed the project’s successful finish by late 2024, with apartments ready for rent the following month. The Cushman & Wakefield appointment appears in May 2026 CoStar reporting, indicating ongoing portfolio enhancements.

Why Introduce Residential to a Retail Thoroughfare?

DTZ Investors’ move brings luxury rental accommodation to a renowned shopping area, reconfiguring upper floors of historic properties. The scheme targets high-end renters seeking city centre locations.

As the largest landlord, the firm invests to diversify King Street’s appeal beyond retail. This aligns with transforming 58-66 King Street from commercial to mixed-use.

How Does This Fit Manchester’s Property Landscape?

Separate developments, like Bruntwood’s uk/local/stretford/">Stretford Mall revamp aiming to emulate King Street’s vibe, highlight regional trends toward vibrant town centres. Stretford’s King Street phase opened in August 2025, adding retail and dining.

In Manchester, DTZ’s efforts underscore sustained investment in prime areas. No direct quotes from DTZ Investors executives appear in sourced coverage, but project specifics reflect coordinated professional input.

The revamp sustains King Street’s status as a luxury retail hub while integrating residential elements. Further details on Cushman & Wakefield’s precise role remain tied to portfolio management, per CoStar.

Background of the Development

King Street has long served as Manchester’s premier retail destination, hosting high-end brands in historic surroundings. DTZ Investors emerged as its dominant landlord, managing multiple assets.

The residential pivot at 58-66 King Street addressed underused upper spaces in Grade II listed buildings. Planning approval in early 2022 enabled the shift, with designs preserving heritage features while modernising interiors.

On-site progress followed swiftly, as noted in October 2022 property updates. Completion by 2024 marked the street’s first such residences, managed for long-term rental.

The 2026 consultancy addition signals phase two, focusing on sustained portfolio optimisation amid Manchester’s evolving property market.

Prediction: Impact on Retail Businesses and Shoppers

This development can enhance footfall for existing retailers on King Street by introducing residents who contribute to daily trade. Proximity to new luxury apartments may boost evening and weekend spending, supporting lease stability for brands.

Shoppers gain from a mixed-use vibrancy, with residential activation potentially improving street-level security and maintenance. Property managers like Urban Bubble ensure high standards, benefiting public realm quality.

For investors and commercial tenants, the Cushman & Wakefield mandate suggests refined leasing strategies, possibly attracting premium occupants. This sustains King Street’s prestige without displacing core retail functions.