Property company Bruntwood has announced that it has acquired the former BBC site on Oxford Road, Manchester from Realty Estates.
The acquisition follows January’s news that the company was involved in ‘complex’ negotiations over the purchase of the site, which consolidates Bruntwood’s significant interest in the Corridor Manchester area. Bruntwood has not revealed the price of the deal.
Following the BBC’s move to MediaCityUK, Realty Estates completed the demolition work on the site and agreed a strategic development framework with Manchester City Council.
Yousef Tishbi of Realty Estates, said: “Having worked up the master plan for the site with The City we are pleased to have sold to Bruntwood who, we are sure, with MSP, will deliver a scheme that will help further the city’s proposition to the science and technology sectors”.
Bruntwood’s proposals will create a new eight acre community for business, science and innovation, which includes 900,000 sq ft of commercial space. A detailed masterplan will follow in due course, incorporating Bruntwood’s neighbouring property, the Manchester Technology Centre.
The acquisition will provide a boost to the growth of Manchester’s Innovation District where £1.25 billion has been invested over the past decade, with a further £1.25 billion due to be pumped into the area over the next six years.
Bruntwood Chief Executive, Chris Oglesby, said: “We have long seen this as a strategically important site for Bruntwood, linking our extensive city centre office portfolio with our science and technology interests at Corridor Manchester through Manchester Science Partnerships.
“We are looking forward to developing out a masterplan that will be truly transformational for this area of the city.
“The finished scheme, plus the central Corridor campus of MSP, Citylabs and Alderley Park represent a world class cluster of 3m sq ft of commercial space aimed at satisfying the incredible demand that Manchester is witnessing from these fast growing sectors of the economy”.
Bruntwood were advised by Addleshaw Goddard while Davis Blank Furness advised Realty.
