Bruntwood ‘close’ to signing MBS deal

MANCHESTER property group Bruntwood is “close” to signing contracts with an investor that will help it take forward a £60m project to upgrade Manchester University’s Business School.

In the firm’s annual accounts chief executive Chris Oglesby writes that a deal is imminent that will be the “catalyst” for the BDP-designed scheme.

It involves the construction of a new, external hotel and conference centre, replacing the one currently within the business school building.

In the accounts Mr Oglesby said: “We are close to signing contracts with Manchester Business School (MBS) and a hotel brand, operator and investor for the development of a new hotel and exec education centre which will be the catalyst for our further redevelopment of the remainder of the MBS campus and precinct retail centre.”

But the company was unable to expand on the deal, with Colin Sinclair, Bruntwood’s director of property marketing, saying: “We’re not at a stage yet where we can discuss details of the proposed hotel.”

BDP’s plans involves the removal of the footbridge currently above Oxford Road at its junction with Booth Street and the replacement of the University Precinct shopping centre.

The redevelopment was first unveiled in 2011 with work on the hotel expected to start in 2012.