Argent has walked away from its role as development manager of the £1bn Airport City Manchester project.
The 5m sq ft, 160-acre site is owned by a joint venture between Manchester Airports Group, Carillion, Beijing Construction Engineering Group and the Greater Manchester Pension Fund.
The jv is now creating an in-house development management team and has begun a search for a managing director and a sales and marketing director.
Argent was not an investor in the scheme and it is now focusing on its other projects.
Since its appointment to the project in 2013 the company has formed a partnership with US regeneration firm Related Companies and taken on two major regeneration projects in London: Brent Cross South, NW2, a 192-acre site being redeveloped in joint venture with Barnet Council; and a new residential district next to Tottenham Hale Station, N17, which will deliver 2,000 homes.
It has also made the Mayfield Partnership’s long list for the £550m development of a 24-acre derelict site in Manchester near Piccadilly station.
David Partridge, managing partner at Argent, said: “We are happy to have supported the Airport City joint venture and look forward to the continued success of the venture.”
Part of the Manchester Enterprise Zone, Airport City will be one of the UK’s largest regeneration projects once completed. It will include offices, hotels, advanced manufacturing and logistics facilities.
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