ITV calls off move to Media City

ITV has halted discussions with Peel Holdings over relocating from Quay Street in Manchester city centre to Media City in Salford Quays.

ITV blamed the scaling back of incentives for the decision. A cleared site next to the Imperial War Museum North had been reserved by Peel for ITV, putting it across the water from the new BBC offices.

Last week ITV announced the closure of studios in Leeds and a £17m drop in the net asset value of its properties.

Hotel specialist developer Surinder Arora was selected by ITV for a £100m redevelopment of Quay Street but negotiations over a development agreement were also aborted.

Allied London, developer of Spinningfields, has repeatedly been linked with a deal at ITV's nearby estate.

Cushman & Wakefield is the retained letting agent on Peel's development.