Construction will start in the next few weeks on the 11-storey block, with completion due in early 2023.

The 200,000 sq ft office scheme will be an operational net zero carbon building.

Paul Pavia, head of development at MEPC, said: “Commercial real estate was already beginning to see genuinely incorporating sustainability into the design and operation of buildings as being crucial to de-risking and future-proofing assets before Covid-19 struck.

“With widespread public and business support for a true ‘green recovery’ after the pandemic is over, we only expect occupier and investor demand for high quality, sustainable workspace to grow further, which is why we have committed to making 4 Angel Square operationally net zero carbon and raising the standard for sustainable office development.”

Federated Hermes, which recently acquired MEPC, is the investment manager of the NOMA development.

The £40m block will be developed speculatively in a sign of MEPC and Federated Hermes’ continued confidence in the Manchester market.

Stephen Bradley, director – investment management at Federated Hermes, said: “We are confident in the Manchester market, which is why are continuing to develop 4 Angel Square speculatively, and believe Manchester stands to benefit from changes in occupier demands post-coronavirus.

“While work patterns will undoubtedly change, there will always be demand for well located, high quality, highly sustainable workspace.”

Paul Sykes, North West regional commercial director at Bowmer + Kirkland, said: “4 Angel Square will be a landmark office development, setting new benchmarks for sustainability and creating new high-quality workspace that will support Manchester’s recovery.

“We look forward to working closely with MEPC during the construction phase to reduce carbon emissions and creating employment opportunities for local young and homeless people.”

Designed by Manchester-based architect SimpsonHaugh, 4 Angel Square will sit on the corner of Corporation Street and Miller Street and form a key part of the emerging business district within the NOMA neighbourhood.