The previous building on the site was the concrete Elisabeth House, an office block which was built in 1960 and had weathered badly. It was originally meant to be clad in stone to keep with its context but for financial reasons the exposed concrete was not clad. It used to house the "Dutch Pancake House", which opened in the 1970s and closed in the early 2000s. Demolition of Elisabeth House, began in late 2011 and the building was fully removed by April 2012.
New building
Construction of the new building was first proposed in 2009, and was granted planning permission in 2010. The scheme was approved in July 2011, and a 25% pre-let of the building by professional services firm KPMG enabled construction to begin. One St Peter's consists of of Grade Aoffice space. Construction began in May 2012 and was due to be completed in early 2014 to coincide with completion of the Central Library and Town Hall redevelopment. It then underwent internal fit out and was completed in late 2014. Concern over the building's height surfaced during the construction of the core. One local observer said the building "is at least four stories too tall on the site and the lift core alone makes the neighbours cower". The building fronts onto Midland Hotel, Central Library and Town Hall Extension – all Grade II* listed buildings. The columns supporting the building are on the outside, thus avoiding unwelcome columns in the office space. The exterior columns are clad in limestone rather than concrete. The choice of limestone was exacerbated by the need to remain in context with listed buildings in the vicinity and the desire to avoid weathering which is often seen in concrete. A three-storey glazed balcony tops the building and features a curved, overhanging roof complete with spotlights. Situated in Manchester's historic district, the building was needed to meet strict conservation area rules. One St Peter's was designed in a simple modern classical style with high quality Jura limestone columns to fit in with the Central Library opposite. A sweeping top floor balcony perches out over St Peter's Square providing a focal point for passers-by. The new building forms part of the new civic space for St. Peter's Square. As part of the plans, the Central Library and Town Hall Extension were renovated and the landscaping of the square with trees. Three further high-rise office blocks are proposed adjacent to One St Peter's; a 14-storey building named Landmark on the site of the former Odeon cinema, a 12-storey building on land currently occupied by Century House and an 11-storey block to the east.
Occupancy
In May 2014 it was reported that the restaurant chain San Carlo is set to open its fifth Manchester venue, launching a restaurant in One St Peter’s Square in late October-early November 2014. As of February 2015, approximately 40% of the floorspace has been leased. KPMG confirmed in July 2014 that it was taking an additional of office space across half of the 10th floor. They had initially agreed to take across the upper three floors. In December 2014, law firmDLA Piper agreed a 15-year lease for 45,000 sq ft of space on floors eight and nine. The firm will move in mid-2016 once the lease at Barbirolli Square expires. The Greater Manchester Property Venture Fund, part of the Greater Manchester Pension Fund, invested £10 million in the development.
