Columbia Threadneedle to sell half of its £1bn MIX Manchester slice

Stakeholders behind MIX Manchester are in advanced talks to buy out of Columbia Threadneedle Investments’ 50% share in the £1bn development. The move comes as Manchester City Council is set to join forces alongside existing shareholder Greater Manchester Pension Fund increasing its holding. Other joint venture partners, Manchester Airports Group and Beijing Construction Engineering Group International, will remain unaffected of this change. The move comes after late last year Manchester City Council’s executive committee approved amendments to the strategic regeneration framework for the 60-acre science, innovation and manufacturing campus, featuring a step back from initially proposed offices.  More than £30m of capital has already been invested in the site, with further works expected to be delivered in phases. Once completed, MIX Manchester will be the UK’s first airport-based science and innovation campuses, with 2m sq ft of advanced manufacturing and science space. The first planning application is expected to be lodged later this year. Gareth Jackson, group property director at Manchester Airports Group, said on behalf of MIX Manchester: “We can confirm we are in talks with Manchester City Council and Greater Manchester Pensions Fund regarding their potential investment in MIX Manchester. We believe this represents an opportunity to be part of one of most exciting science, innovation, and manufacturing developments in the UK and we look forward to releasing more information regarding this very soon.” Bev Craig, leader of the Manchester City Council, said: “This investment also complements the wider regeneration of Wythenshawe, including the transformation of the town centre and infrastructure investment at the hospital. “Our ambition is for MIX Manchester to be an exemplar for public private collaboration, maximising the social and economic impact for the people of Manchester, while generating financial returns for the city.” Sheppard Robson and Planit designed the masterplan, CBRE is acting as planning consultants and JLL and Track Real Estate have been appointed as agents. Image: © MIX Manchester