Plans for a £1bn expansion of MediaCityUK has been announced by Peel Land & Property and Legal & General, which are to be submitted to Salford Council.
The new scheme is for ten buildings totalling 2.3 million sq ft and will comprise 540,000 sq ft of offices, retail and leisure space, as well as 1,800 apartments, mixed use markets, event space and new public promenade.
Salford’s planning panel is expected to consider the plans in September and, if approved, will see the landmark scheme double in size within ten years.
MediaCityUK currently houses 250 businesses which includes BBC and ITV, totalling 1.6m sq ft of space.
Chief Executive of The Peel Group, Steven Underwood, commented: “This application is another major step forward in the evolution of MediaCityUK.
“Our partnership with Legal and General Capital, alongside continued support from the public sector, provides a strong platform to deliver future development phases of the UK’s fastest growing hub for the creative and digital industries.
“MediaCityUK is a shining example of what can be achieved across the Northern Powerhouse, combining the talents of great people with ambition and vision.”
Paul Stanworth, managing director at Legal and General Capital, concluded: “Urban regeneration of the scale being delivered at MediaCityUK has the ability to make a sizeable economic impact, both locally and nationally.”
