Electronics company Siemens has shortlisted four parties for the overhaul of its 20-acre estate in south Manchester.
Bruntwood, Kier, Orbit Developments and a partnership between Wrenbridge and Palmer Capital, with contractor Vinci, are vying for the opportunity to buy the site at Princess Parkway.
The chosen developer will transform the site into a 750,000 sq ft mixed-use scheme.
The successful bidder will build a 100,000 sq ft office building which Siemens will lease back for 12 years at a rent of £2m pa, and refurbish the firm’s premises on the site, Sir William Siemens House.
The balance of the estate will be developed in phases to provide offices, a hotel and homes.
Siemens, with its agent Jones Lang LaSalle, and in conjunction with Manchester council, will select a preferred developer by next spring.
Earlier this year, Siemens was awarded £3.5m from the government’s Regional Growth Fund, which will contribute to the development of its new facility.
daniel.cunningham@estatesgazette.com
