The ID Manchester has announced the completion of the £1.5 billion project JV between The University of Manchester and Bruntwood SciTech
The University and Bruntwood SciTech, a joint venture between Bruntwood and Legal & General, have completed legal documentation which will see them work in partnership to enhance, develop and deliver Manchester’s innovation district that will be a hub of global innovation and cement the UK’s position as a world-leading science and technology innovation hub.
The ID Manchester innovation hub will provide specialist infrastructure to power the growth of the knowledge economy and unlock the commercialisation of R&D innovation, with the potential to create more than 10,000 jobs over the next 10-15 years.
The hub will be home to the most exciting new ideas and ventures that address some of humanity’s greatest challenges and opportunities.
Upon completion, the ID Manchester will be the base for a global community and an exemplar for a new approach to sustainable development.
The hub will provide more than four million sq ft of space, including 2.6 million sq ft of new commercial workspace, 1350 apartments, 2 hotels, and a £28m investment in the public realm that will provide a focal point for a vibrant events programme.
‘A cornerstone of the city region and the UK’s innovation strategy’
Diana Hampson, director of Estates and Facilities at The University of Manchester, and Chris Oglesby, executive chair of Bruntwood SciTech shared the following: “ID Manchester will become the most valuable single-site, city centre, mixed-use development outside of London and the most connected location in the North of England.
“We’re delighted to have reached the next milestone in the project and would like to thank Addleshaw Goddard, CBRE, Eversheds Sutherland, KPMG, and Start Advisory for their support.
“ID Manchester will be a cornerstone of the city region and the UK’s innovation strategy, driving prosperous economic and inclusive growth and investment, and becoming one of the most exciting projects driving levelling up and R&D translation.
“Over the next few months, we’ll be developing the masterplan for the site and look forward to sharing it in due course.”
