Manchester’s 450-acre (182ha) Central Park scheme is set for a 37-acre (15ha) extension following a £4.6m land sale.
English Partnerships, one of the partners behind Urban Regeneration Company New East Manchester, has acquired the former Weir Pumps site at Ten Acre Lane, east Manchester.
Central Park, a business park, is being developed as a joint venture of Ask and Akeler.
Ask and Akeler must now decide whether or not to incorporate the Weir Pump site – which has already been identified as part of Central Park in local planning guidelines – into the park.
Eddisons, which advised on the deal, would not confirm the price but said a market value was paid for the site, which was purchased on an unconditional basis and will now be incorporated into its larger business park development strategy.
Peter Vernon of Eddisons commented: “This was a classic example of a developer wishing to purchase and a vendor wishing to sell, but with a need to understand remediation costs before a deal could be finalised.
“We are pleased to have achieved the sale of the Weir Pumps land with certainty, extinguishment of liabilities, and achievement of a full market value.”
References: EGi News 09/07/04
