City council puts land, not cash, into Granada deal

MANCHESTER City Council is not putting any capital into the deal to buy the ITV Granada site with Allied London, but it is contributing a £2.4m plot it bought just seven months ago from the Spinningfields developer.

Last week Allied London said it had formed a partnership with the council called Manchester Quays Ltd (MQL) to conduct the £26.5m acquisition and subsequent redevelopment of the 13-acre site.

Earlier in the year the two organisations were negotiating on a different land deal, the sale of an old w... For the full story register now for free or login below...