Project Overview

The Prime IFISA is designed to deliver threefold benefits to investors: quality, value and innovation. We believe we’ve achieved this by offering an asset-backed investment in an exciting new IT redevelopment offering attractive returns over three years.

Innovation & Transformation

Located just south of Manchester, close to Manchester Airport, the Wythenshawe Data Centre was the first purpose designed and built civilian data centre in the UK and among the most sophisticated IT facilities of its kind.

Since Barclay’s vacated, the state-of-the-art IT suite, which once formed the heart of Barclay's Bank's computing network, has become as dated as the building's brutalist façade.

Exciting plans are about to return the centre to its rightful place as one of the nation's premier data facilities.

Currently valued at £55.4 million, the Wythenshawe Data Centre is to undergo a full exterior renewal while internally, an IT space the size of the pitch at Wembley Stadium will be re-equipped to meet the IT demands of a new generation of businesses.

Once this dramatic transformation is complete, the Tier 4 centre has been valued at £134 million.

Prime Numbers



Current Property Value of the borrower



Expected Value Upon Completion



Maximum Initial Loan to Asset Cover Ratio


2 years

Project Completion Time


Tier 4

Status-rated Centre


100,000 sq.ft.

Computing Facilities


  • Strip-Out

    May 2018

    Following a detailed survey, the building’s exterior fascia will be removed, along with interior machinery and equipment.

  • Roof Modifications

    Oct 2018

    The existing roof will be removed and replaced. The new roof will be insulated to comply with modern regulations.

    Main Power & Cooling Plant Installation

    Jan 2019

    The new power supply will be connected from the Bulk Supply Point, which also feeds nearby Manchester Airport.

  • Cladding Replacement

    Jan - Sep 2019

    The existing fascia will be replaced with military-grade fireproof cladding.

    Interior Fit-Out

    Jan - Sep 2019

    Ground, first and second floors fitted out with all new state-of-the-art equipment.

  • Perimeter Car Parks

    Sep - Dec 2019

    Existing tarmacked car parks replaced with motorway-grade surfacing.

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    Earn fixed, tax-free and asset backed returns

Building Innovation

Britain is a Technology Leader and Innovator. To continue providing the vital support needed for technology businesses to stay ahead as the world moves towards securing big data, the nation's infrastructure must keep pace with the wider world.

With an Uptime Institute (UTI) top rating of Tier 4, the Wythenshawe Data Centre is poised to stand at the vanguard of the next generation of information technology facilities, containing both the internal infrastructure and security capabilities needed to stay ahead of the game for years to come.

The centre will benefit from significant high-speed fibre connections from multiple Tier 1 Backbone providers such as BT, Vodafone etc. This facilitates High Performance Computing and Mass Data Storage within the building.

The current limited availability of Tier 4-rated centres is scarce, particularly in areas as well located for employment and transport connections as Wythenshawe. With marketing set to begin on day-one of construction, both Prime and the project developers are confident that demand for occupancy will be high.

Existing Barclays building
Proposed new building

Building Value

The rental level for the existing building is already impressive; the centre is capable of yielding around £7.5 million per annum. The new plans are set to significantly increase capacity of the computing floor space which will materially increase the rental value upon completion.

The project company has several options available to help achieve full occupancy of the new space:

  • Rental to a single organisation
  • Management for multiple occupiers
  • Re-financing with a mainstream lender
  • Sale of the Head Lease to an occupier or operator

Business Model

High-performance investment returns are most often the product of assets which are carefully designed to answer specific, often challenging real-world problems over the long term. Only products which pass this crucial test have a hope of beating investors' expectations.

Prime has adopted a multi-disciplinary approach to sourcing this project before the hard work of due diligence, feasibility studies and valuation reporting commenced.

This project has first been assessed to ensure it will continue rising to the challenges of the market long after launch.

This project must also be environmentally and socially sustainable to meet the needs of both the communities they serve and the wider environment.

We call this the four pillar approach.

The Four Pillar Approach

1. Market

This project must answer a long-term industry or market need. The UK’s technology sector is larger than the rest of Europe’s combined. When it comes to spending on renewing the infrastructure that supports this vital industry Britain trails behind almost every other developed nation in the world.

The renewal of the Wythenshawe Data Centre marks a resolute commitment to the nation’s technology sector and is set to ensure Manchester has a place on the digital map for years to come.

2. Environment

The Wythenshawe Data Centre was once the most advanced data facility of its kind. Replacing the building’s dated systems, infrastructure and ageing façade will be foremost among the many challenges of restoring the site.

Redevelopment is not only more financially sound than developing from new - it's also more efficient and kinder to the environment.

3. Communities

Prime is helping the community. This project will regenerate areas and create jobs.

The area of Wythenshawe has undergone a stunning transformation over the past decade. The extension of Manchester's Metrolink tram system to the suburb in 2014 saw an influx of new businesses keen to capitalise on excellent connectivity with Manchester, England and the rest of the world via nearby motorway and airport links. Regeneration continues apace, and the addition of hundreds of new jobs at the new centre will be a welcome addition to the area.

4. Future

Prime’s commitment to these principals is reflected in this project, which must stand the test of time.

This project must meet the rigorous standards we set for ourselves not only today and tomorrow but long into the future.