Vision for £1.5bn development unveiled in Cannes
Images of a new £1.5bn development which will create thousands of new jobs were released this morning at MIPIM.
The University of Manchester showcased its ambitious plans for the development at the city’s pavilion this morning.
The presentation, attended by over 150 property professionals from all over the world, revealed The University of Manchester expects its joint partner to match its bold ambition to create a new neighbourhood.
Professor Dame Nancy Rothwell, President and Vice-Chancellor of The University of Manchester, made the announcement.
Dame Nancy, who was recently named Ambassador at the North West Business Masters Awards, said “I have seen how transformative other innovation districts in cities across the globe can be.
“I truly believe we can make ID Manchester the innovation capital of Europe, providing the perfect conditions for organisations of all sizes and from different sectors, to share knowledge and work together turning incredible ideas into reality.”
Diana Hampson, director of estate at the university, said: “The ID Manchester partnership has the makings of a formidable team.
“We will be looking for a world leading partner who has the experience and track-record to help us deliver this outstanding development.
Also speaking at the presentation this morning, Colin Thomasson Executive Director, CBRE, the property advisor to The University of Manchester said: “To create a successful innovation district you need a highly connected dynamic urban location. The city of Manchester has all the attributes required with its strong knowledge based economy, a young talented workforce and world leading university.”
“ID Manchester is the last major development opportunity in a city centre which is seeing exceptional growth, and perfectly positioned to reap the benefit from the city’s next wave of economic growth.
Joanne Roney, Chief Executive, Manchester City Council said: “The University and the city have long been closely aligned. We have grown up together and share a spirit of innovation, revolution and entrepreneurship. ID Manchester will build upon this proud shared history.”
It is expected an OJEU notice will be released in summer to signal the start of the competitive process to identify a partner, with a view to having an appointment made by mid-2020.
The University of Manchester’s vision is that the 26 acre (10.5 hectare) ID Manchester will be a dynamic, world-class community with innovation, collaboration and enterprise at its heart, with the potential to create over 6,000 new jobs.
ID Manchester benefits from an adopted Strategic Regeneration Framework (SRF). Current development parameters, which align with the University’s current vision, could comprise a circa 3.5 million sq ft of mixed use space including three acres of high quality public realm.
Any revision to the existing SRF should be brought forward in close collaboration with Manchester City Council.
The site benefits from existing green space and the unique feature of the 650,000 sq ft Grade II Listed Sackville Street Building, which offers a fantastic opportunity for re-purposing.
The University occupies the recently opened £60m Masdar Building, home to the Graphene Engineering Innovation Centre, and the Manchester Institute of Biotechnology at the south end of the site and is looking for a partner to develop the remaining c.16.4 acres (6.64 hectares) of the site.
ID Manchester is adjacent to Manchester’s main public transport hub Piccadilly Railway Station and future HS2 station, and is a 20 minute train journey to the international airport.
ID Manchester is another piece in the jigsaw of the major regeneration taking place in that area of the city including Mayfield, London Road Fire Station, Kampus, Circle Square and the £1 billion investment already being made into its main Oxford Road campus by The University of Manchester.