ITV land deal with Genr8 collapses

Landprop, the property division of Inter Ikea Group, is being tipped as the frontrunner to buy the ITV site in central Manchester after a deal with John Early's Genr8 fell through.

Genr8, founded by former Amec chairman Early, was selected in August 2012 as the preferred party to buy the site. Genr8 was understood to be lining up Malaysian backers to fund the 14-acre development in Quay Street, which ITV is vacating to move to Media City UK in Trafford and Salford Quays.

However, that deal has now fallen through. Genr8 bid between £25m and £30m for the site, which the council has reserved for a mix of residential, office and retail.

As well as Landprop, other runners-up shortlisted by ITV and adviser Jones Lang LaSalle included the Bion Group.

All parties declined to comment.

Your Comments

Read our comments policy

Related Articles

Sign up to receive the Place Daily Briefing

Join more than 13,000 property professionals and receive your free daily round-up of built environment news direct to your inbox

Subscribe

Join more than 13,000 property professionals and sign up to receive your free daily round-up of built environment news direct to your inbox.

By subscribing, you are agreeing to our Terms & Conditions and Privacy Policy.

"*" indicates required fields

Your Job Field*
Other regional Publications - select below