Great Northern deal collapses

MANCHESTER City Council has failed in a £70m bid to buy the Great Northern Warehouse.

Although a deal was agreed with owners Capital & Regional, a London-based property company, negotiations with cinema operator AMC fell down.

A council spokesman said: “While we agreed terms from building owners who we wish to thank for the support they provided us, we could not engage  the cinema operator on any sensible basis.
 
“We will now pursue other options for enhancing our conference and exhibition facilities.”

AMC, which declined to comment, is the major tenant in the Grade II listed building and operates a 16-screen cinema there.

 It is thought that no agreement with AMC could be reached on the level of compensation the US-owned cinema group would receive.