Hong Kong’s Peterson Group has confirmed a £300m investment in the regeneration of the Great Northern Warehouse in Manchester.
Its commitment means the company takes full control of the site it had previously invested in alongside Resolution Capital in 2013.
The company, run by Tony Yeung, will now work with Trilogy Property to develop the site into a residential, commercial and leisure complex.
The plans will see the site more than double in size from a 375,000 sq ft leisure space into a 780,000 sq ft mixed-use space.
Yeung said: “Peterson is looking to make a long-term commitment to Manchester and its role as a northern powerhouse city, through our investment in the transformation of the Great Northern Warehouse. By creating a world-class destination for employment, leisure and high quality city centre living we believe we will enhance Manchester’s recognised competitiveness both nationally and internationally.”
