Genr8 Development preferred bidder for 13.5 acre site

A joint venture between developer Chelsfield and three former directors at engineer Amec is preferred bidder to buy ITV’s massive Quay Street site in Manchester.

The 13.5 acre mixed use development site will be vacated by ITV next summer as it moves to its new MediaCity base in Salford.

Building’s sister title Property Week reports the developer, Genr8 Development, has offered £20m for the land and is seeker further backed from South-East Asia to help it complete an unconditional deal.

It has beaten out developers The Bion Group and Landprop to the sale.

The site currently has planning permission for 1.2msqft of offices, 200,000sqft of retail space, 895 homes and a 575-space care park.

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