Manchester Ship Canal Developments has been selected to deliver a £55m mixed-use development in
The scheme involves the demolition of NCP’s
The first 13-storey building will contain 35,000 sq ft of offices, 65,000 sq ft of specialist retail and a new 745-space car park.
A second building of 15-storeys will include a four-star hotel with up to 180 rooms.
NCP Manchester, a joint venture between the city council and NCP, which selected MSCD, has not ruled out “an element direct council funding” to aid deliverability.
It envisages a “Camden Market”-style offer and is keen to create a new street running between the two buildings.
The council has already agreed to the scheme “in principle” and will consider detailed legal and financial arrangements at its September executive meeting.
A planning application is expected during the autumn, with work likely to begin next year.
The development forms part of the wider regeneration of the Northern Quarter.
The council recently acquired the freehold to phase 1 of Argent’s Hive office scheme in the area in order to kick-start the project.
It is understood to have agreed a 5% rental gearing with Argent, off rents of around £17.50 per sq ft.
The council is also encouraging further investment in the Northern Quarter, including a redevelopment of
