XYZ, the landmark workspace building currently being developed by Allied London at Spinningfields, has announced plans for ‘The Vault’, a 20,000 sq ft floor-plate co-work hub.

The Vault will be a new enterprise space for innovative companies and start-ups in the Financial Technology industry who are looking to thrive in an innovative, collaborative and creative space, in the heart of Manchester’s premium business quarter.

The Vault, which will be opening towards the end of 2016 is integral to the Fintech incubator vision being fostered at XYZ, where Allied London is aiming to create the North’s primary melting pot for tech innovation, media and entrepreneurs.

Spinningfields Estate Director Chris Reay commented: “Spinningfields has disrupted Manchester’s traditional commercial core and has become a place where leading corporate institutions are clustered, from the main banks to newer organisations such as Worldpay. Where XYZ differs is that we’re delivering a culture, a brand more than a building, a structure with its own personality. We believe this is the ideal platform for fintech. We’re opening doors for tech entrepreneurs to collaborate and tap into support from the existing corporate environment and learn first-hand, from leaders in their field.

The Vault differs from the average tech co-working hangout by offering greater security, careful selection criteria and a supportive community all within the surroundings of a uniquely designed enterprise platform.

The Vault has gained sponsorship from a number of leading financial and professional institutions and will be a crucible of ideas, innovation and FinTech development.

The XYZ building, which was deliberately designed to create a new asset class of workspace announced back in February that it was fully let with occupiers including Global Radio, Shoosmiths and the NCC Group. The building will also house a number of smaller businesses and a dynamic programme of events for the XYZ Work community.

The development spanning over 160,000 sq ft includes a mixture of public amenity spaces, including independent coffee shops, a restaurant by Drake and Morgan and unparalleled meeting and event spaces.