‘Ikea lines up bid for ITV’s Quay St site’
LANDPROP Holdings, part of the Inter Ikea Group, is among the parties interested in acquiring ITV’s 13.5-acre Quay Street site in Manchester, according to PropertyWeek.com .
Allied London and Urban Splash are also considering a joint bid with other bidders including Grainger believed to have looked at the site to convert to the much-needed private rented housing.
However, many potential suitors such as Muse, Hines, Bruntwood, BAM Properties and Delancey are understood to be unlikely to make a bid.
Selling agent Jones Lang LaSalle is looking to determine an agreement with an individual party by September. ITV is looking for a cash payment rather than conditional bids or joint venture proposals.
The broadcaster wants £25m-£30m for the site that it will vacate when it moves to Peel’s Media City in mid-2013. The broadcaster’s masterplan for the site includes 1.2m sq ft of offices, 200,000 sq ft of retail, 895 homes and a 575 space car park.
In March Landprop Holdings submitted plans for its 26 acre Strand East project in Stratford, London. The proposals include 1,200 homes, 620,000 sq ft of offices and a 350 bed hotel.
