Glenn Howells' One St Peter's Square will be a 270,000ft2 mixed-use retail and leisure complex

The £120m redevelopment of Elisabeth House in Manchester city centre has received planning consent.

The scheme, by Argent and the Greater Manchester Property Venture Fund, involves the demolition of an existing 110,000ft2 sixties building and replacing it with a 270,000ft2 mixed-use retail and leisure development - One St Peter's Square - designed by Glenn Howells Architects.

Construction work will not start until part of the building is pre-let. Completion is not expected before 2014.

The scheme is part of a wider revamp of St Peter's Square.