MAG Developments, the property arm of the Manchester Airports Group, has revealed that it submitted a bid for £10m from the government’s Regional Growth Fund to accelerate the development of its Airport City scheme at Manchester Airport.
The £600m Airport City mixed-use development has been selected as one of the government’s 21 enterprise zones.
The RGF investment would go towards site preparation and funding infrastructure required to support the construction of commercial space.
John Atkins, managing director of MAG Developments, said: “Of all the designated enterprise zone projects, Airport City is probably the one at the most advanced stage – we intend to commence infrastructure development on site by the end of this financial year.
“However, to do this we need to invest in the project to help bring it to the market. We are looking at additional funding options to support our own investment and progress the first phase development programme, including a £10m RGF bid that will enable us to deliver infrastructure required to support the construction of a number of pre-lets, and in turn stimulate further private sector-led economic growth and investment.”
daniel.cunningham@estatesgazette.com
