Manchester, 15th March 2012 – Plans for the regeneration of ITV’s 14-acre city centre site in Manchester have been endorsed in principle by Manchester Council’s Executive Committee and will now go to public consultation.
The single ownership site in the heart of Manchester presents an important opportunity to accelerate the next phase of regeneration in the city centre, helping to deliver economic growth.
The development framework for the site includes up to one million square feet of office space, a prime residential district anchored by the conversion of the former Bonded Warehouse and extension to the existing St John Street district, envisioned as a new Harley Street of the North.
Peter Copley, Property Director at ITV, said “ITV is strengthening its commitment to the region through its investment at MediaCityUK but is also keen to leave a strong legacy in Manchester city centre. There’s an opportunity at Quay Street for a best-in-class regeneration project that extends already successful parts of the city centre and draws on the rich history and character of the site. We’re all exited about seeing these plans become a reality.”
Drivers Jonas Deloitte led in the preparation of the development framework with a team including: EPR Architects, Jones Lang LaSalle, Waterman Boreham, Gardiner & Theobald and Buro Happold.
John Cooper, director at Drivers Jonas Deloitte, added: “The site has a prime city centre location between the established Castlefield district and one of the UK’s largest and most successful regeneration schemes in Spinningfields. It offers an exciting opportunity to open up new physical and functional connections between adjoining city centre districts, which coupled with the delivery of new public spaces and a vibrant mix of uses will create attractive new pedestrian and leisure routes across this party of the city.
“The development framework has been designed to be sufficiently flexible to be able to respond to opportunities in the market, which will help ensure the early delivery of a new, mixed use city centre neighbourhood.”
Sir Richard Leese, Leader of Manchester City Council, said: “This is an exiting opportunity to build on the existing success of Manchester city centre, which is continuing to attract substantial development despite the challenging financial climate, and in particular nearby Spinningfields. Subject to consultation, the Council’s endorsement of the masterplan provides a firm foundation for investors to look at variety of mixed-used development options.”
Jones Lang LaSalle
will be acting as agents for the site. Adam White
, Associate Director at Jones Lang LaSalle, concluded: “The City Council’s endorsement triggers our full sale marketing campaign which will officially launch on 24th March.