The University of Manchester has launched an international tender for the development of ID Manchester, a new mixed-use city center neighborhood in Manchester City Centre. The development will span 18 acres (7,3 hectares) and will be located to the south of the city adjacent to Piccadilly Railway Station, the University campus, Manchester University NHS Foundation Trust and the wider Oxford Road Corridor. The estimated value of the project is GBP 2 billion (USD 2.5 billion).
The details of the business opportunity can be found here.
The University is seeking a long term investor and development partner who will invest in and bring forward the development of the ID Manchester Site in a Joint Venture with the University as a mixed-use community in order to deliver the vision. The partner could be a single organization or group of organizations that bring together the necessary funding and expertise to deliver the vision.
It is anticipated that the JV (itself or through or SPVs wholly owned by the joint venture) will develop a masterplan for the JV, secure planning, procure and carry out all infrastructure works on a site-wide basis, secure development of the ID Manchester Site, secure occupiers, manage the estate (potentially via a management company) and hold the developed ID Manchester Site as a long-term investment asset.
As a new mixed-use city centre neighbourhood this is an exceptional opportunity to curate and develop the ID Manchester Site into a vibrant, dynamic, diverse and inclusive environment that creates a new exemplar for Innovation Districts and urban renewal.
The development will attract science, research, development, cultural and technology companies, as well as accommodating new residential space, with a focus on research and industrial specialities such as advanced materials, health innovation, artificial intelligence, digital technology and industrial biotechnology.
The deadline for the submission of documents for the tender is on November 11, 2019.