The Co-operative Group has today ended talks with Delancey and Landid over the £800m NOMA project.
The Co-op said that following amicable discussions over the past 12 months, all three parties had decided not to pursue the joint venture further for the group’s 20-acre mixed-use redevelopment of Manchester city centre.
The 4m sq ft scheme involves delivering offices, homes, shops and leisure space, and the refurbishment of around 1m sq ft of existing property.
A spokesman for NOMA said: “As part of our continued commitment to Manchester, we see the NOMA development progressing in a way that reflects the values and principles of The Co-operative Group. Delancey and Landid understand and respect that view.
“While 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 £800m 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.”
nick.whitten@estatesgazette.com
