The Manchester office market is to be further stimulated if the plans to build the 11 storey No2 St Peters Square go ahead, the £80 million building could hit the market in 2015.

The 162,000sq ft development will occupy the sites of four existing buildings - Century House, Sussex House, Bennett House and Clarendon House, and is a key part of the wider regeneration of the St Peter's Square area.

The design of the building will be in-keeping with the feel of surrounding buildings, including Central Library and the annexe to Mancheter Town Hall, according to Ian Simpson, the architect, whose pedigree includes the Beetham Tower and other Manchester landmark buildings.

The developer is  Mosley Street Ventures, principally owned by the Done brothers, "Bet Fred" and Peter.

Fred Done said: “This project once completed will create one of Manchester’s most sought after office spaces.

“We have worked extensively with the City and English Heritage to ensure the design compliments their vision for the changing face of St Peter’s Square. We are extremely proud to be connected to this project and the quality of the building that will be created”.

Sir Howard Bernstein, chief executive of Manchester City Council, said: “The redevelopment of St Peter’s Square is key to the growth of Manchester’s economic centre. Our vision is to provide a world class setting to help reinforce the perception of Manchester as a dynamic, creative and confident city.

“The investment in Manchester’s City Library, the extension of the Town Hall and the Metrolink Second City Crossing is going to reinvent the site, and No 2 St Peter’s Square is an important element of that.”

As well as offices there will be 5,500sq ft of retail and parking for 43 cars.

DTZ has been appointed as agents for No 2 St Peter’s Square, while Deloitte Real Estate is providing planning advice. Debt funding for the existing site has come from Santander.