U+I gets £850m Mayfield Quarter contract

REGENERATION specialist U+I has been appointed to develop the £850m Mayfield Quarter project in Manchester.

U+I will commit up to £20m equity to the project with an ambition to submit an outline planning application in the second quarter of 2017, and a detailed planning application for the first phase of development in Q3.

The deal was struck London-headquartered U+I and the Mayfield Partnership, a public sector consortium comprising Manchester City Council, Transport for Greater Manchester and LCR.

The redevelopment will deliver a mixed-use community on a 24-acre gateway site adjacent to Piccadilly station that has been derelict for more than a decade.

The proposed masterplan for the regeneration includes the construction of more than 1,000 homes, a new hotel and 807,000sq ft of offices as well as leisure and retail space, with the potential to create 7,500 jobs.

U+  has an established presence in Manchester having been involved in several projects in the city including the Manchester Arena, and is currently developing the Axis Tower alongside the Property Alliance Group.

U+I chief executive Matthew Weiner said: “We are very proud to be selected as the preferred partner on this unique project, underlining our strengths in mixed-use regeneration and public private partnership projects.

“U+I has built a successful track record working alongside public sector bodies to deliver innovative and award-winning schemes.

“This project underlines our commitment to Manchester and our focus on targeting large scale regeneration opportunities, in line with our strategy.

“It adds significantly to our portfolio across the UK and follows our appointment as development partner at 8 Albert Embankment in partnership with the London Fire and Emergency Planning Authority and Cockpit Yard in partnership with Camden Council earlier this year.”

Sir Richard Leese, leader of Manchester City Council, said: “We are delighted to have appointed U+I as our development partner for the Mayfield Quarter.

“It was a challenging decision given the exceptionally high calibre of candidates; however, we were particularly impressed by U+I’s innovative approach.

“The regeneration of this key gateway site, along with the proposed Network Rail Northern hub scheme and the HS2 station will ensure a lasting legacy for Manchester and over time contribute towards fulfilling the Northern Powerhouse growth agenda.

“We are confident that U+I has the expertise and experience to successfully drive this world-class development forward and are now excited to see our vision for Mayfield take shape.”

U+I  plans to retain the old redbrick station at the centre of the 20-acre site.

Drawing on the heritage of the site, the regeneration will also seek to enhance many of its historic features: developing alongside and improving the River Medlock which flows through the site; maintaining some of the iconic buildings that still stand; and making the most of the railway heritage of the area.

David Joy, chief executive of LCR said: “Today we mark a very significant milestone in the delivery of this exemplary urban regeneration scheme for Manchester.

“U+I has a proven track record of delivering innovative and distinctive developments, such as PaddingtonCentral, The Old Vinyl Factory and The Deptford Project.

“They will lead on masterplanning the Mayfield site as well as high quality place-making, through to delivery of the necessary infrastructure and the development itself.

“We look forward to working with U+I to ensure the success of this scheme which is set to create lasting long-term benefits for not only the local area, but the City of Manchester as a whole.”

Matthew Weiner, chief executive of U+I, said:  “We couldn’t be more excited to have been selected and look forward to working with the Mayfield Partnership to deliver an iconic, generational project.

“U+I has built a successful track record working alongside public sector bodies to deliver innovative and award-winning schemes.

“We have the skills and the creative vision to deliver a project of which Manchester can be proud and which will further support the city’s position on the world stage as a centre of enterprise, tourism, culture and socio-economic growth.

“We are passionate about Manchester, and we are passionate about transforming a place with a proud industrial heritage into a 21st century hub, realising its potential while respecting its past.”