Developer chosen for £850m Mayfield Quarter regeneration
Property regeneration specialist U+I has been selected for the £850m Mayfield Quarter urban regeneration project in Manchester.
U+I was selected from a shortlist of three bidders that also included Urban & Civic and a consortium formed by Carillion, Ask and Patrizia.
Mayfield Quarter is a 10 hectare site next to Manchester Piccadilly station that is owned by the Mayfield Partnership, a joint venture of Manchester City Council, Transport for Greater Manchester and London & Continental Railways.
The site has been derelict for more than a decade. The proposed redevelopment includes the construction of 1,300 homes, a new hotel and 75,000 m2 (807,000 sq ft) of offices, along with leisure and retail space.
U+I will commit up to £20m equity to the project with an ambition to submit an outline planning application in the second quarter of 2017, and a detailed planning application for the first phase of development in the third quarter of 2017.
U+I is the company created through the merger of Development Securities and Cathedral Group in 2014.
U+I has appointed Studio Egret West (SEW) as the lead urban designer, architect and landscape architect for the Mayfield Project who the company has worked with on a number of regeneration projects including The Old Vinyl Factory, Clapham One, Caxton Works and Preston Barracks in Brighton. A variety of other designers will join the team as the project evolves.
U+I chief executive Matthew Weiner said: “We are very proud to be selected as the preferred partner on this unique project, underlining our strengths in mixed-use regeneration and public private partnership projects. U+I has built a successful track record working alongside public sector bodies to deliver innovative and award-winning schemes.
“This project underlines our commitment to Manchester and our focus on targeting large scale regeneration opportunities, in line with our strategy. It adds significantly to our portfolio across the UK and follows our appointment as development partner at 8 Albert Embankment in partnership with the London Fire and Emergency Planning Authority and Cockpit Yard in partnership with Camden Council earlier this year.”
Sir Richard Leese, leader of Manchester City Council, said: “We are delighted to have appointed U+I as our development partner for the Mayfield Quarter. It was a challenging decision given the exceptionally high calibre of candidates; however, we were particularly impressed by U+I's innovative approach. The regeneration of this key gateway site, along with the proposed Network Rail Northern hub scheme and the HS2 station will ensure a lasting legacy for Manchester and over time contribute towards fulfilling the Northern Powerhouse growth agenda. We are confident that U+I has the expertise and experience to successfully drive this world-class development forward and are now excited to see our vision for Mayfield take shape.”
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This article was published on 19 Sep 2016 (last updated on 21 Sep 2016).