Developer AM alpha is converting the former home of Debenhams in the city into a mixed-use development comprising retail, leisure and office space.
The Grade II listed building will undergo extensive modernisation including fully redeveloping the existing building, converting the upper floors into high-quality office space and creating a shopping arcade on the ground floor.
AM alpha will also add a four-storey extension to the building meaning Rylands will boast ten floors of high-quality office space, a shopping arcade and a leisure area, mainly for restaurant businesses, after the refurbishment.
Enabling works for the transformation of the vacant building have already begun, with main works scheduled to start in 2023 and completion expected in early 2025.
Local contractor Russell WBHO will act as a construction partner for the project, while local property companies OBI and Barker Proudlove have been appointed as letting agents.
Gareth Russell, founder and managing director of Russell WBHO said: “We are delighted to be working with AM alpha to revitalise the historic Rylands building and position it in the market as a highly sustainable building.
“With our extensive experience in historic preservation and sustainable building, we will make AM alpha’s vision a reality.”