Delancey and Landid quit Co-op NOMA talks

THE Co-operative has confirmed it has ended talks with its preferred development partners for the £800m NOMA scheme in Manchester.

In a statement it said it could not “agree the priorities” with Delancey and Landid regarding the 20-acre mixed use redevelopment of Manchester city centre.

The Co-op plans to continue with the scheme on its own but has not ruled out future partnerships.
 
“Following amicable discussions over the past 12 months, all three parties have decided not to pursue the joint venture further,” said the group.

Last May the Co-op said it was in an exclusive lockout period to finalise its development agreement with the partnership, which had been shortlisted alongside Manchester-based developer Bruntwood following a 15-month selection period.
 
A spokesperson for NOMA said: “As part of our continued commitment to Manchester, we see the NOMA development progressing in a way which reflects the values and principles of The Co-operative Group. Delancey and Landid understand and respect that view.
 
“Whilst we recognise the track record, undoubted talent and complementary expertise Delancey and Landid could have brought to the project, we have been unable to agree the priorities for the scheme.
 
“We always said that if we could not secure a partner on mutually acceptable terms, then we would continue to develop Manchester’s sustainable city centre district ourselves, and that is what we will now be doing, in the best interests of the Group and its members. We have a clear three-year plan to achieve that objective and are pressing ahead, with urgency, on that basis.
 
“We are not ruling out the possibility of working with one or more partners in the future, but in the meantime we are already engaged on delivering the next phases of this exciting development.
 
“The £800 million NOMA development is unlike any other development in the UK, and we are confident that this regeneration of Manchester city centre will continue to flourish under our guidance.”