LTE seeks buyer for Ardwick campus
The latest phase of the Manchester College operator’s estate consolidation would see the Nicholls Campus sold.
LTE Group has appointed Cushman & Wakefield to find a buyer for the eight-acre Ardwich site, which includes 65,000 sq ft of floorspace across two buildings as well as Powerleague football pitches.
Neal Riley, partner, development and strategic advisory at Cushman & Wakefield, said: “[Nicholls Campus] presents an attractive and unique redevelopment opportunity, including a grade two star-listed building, in a well-connected location within walking distance of Manchester city centre’s key amenities and attractions.
“We expect the site to appeal to both commercial and residential developers due to its strong location and redevelopment potential across different uses.”
The two buildings are the historic grade two star-listed Nicholls House and the more modern sixth form building.
Powerleague holds a 10-year lease on the football pitches and Warner Brothers has a two-year lease on the sixth form building.
Offers for the long-leasehold interest, which runs until 2128, are being sought. Manchester City Council is the freeholder.
The campus falls within the Ardwick Green Neighbourhood Development Framework. The site was added to the framework amid LTE’s ongoing estate strategy.
LTE has already sold the 18-acre Northenden Campus to Miller Homes, its Moston complex to One Manchester, the 6.5-acre Fielden Campus to the Manchester Islamic Education Trust, and its St John’s Campus on the edge of Spinningfields to HBD.
The first phase of LTE’s new £54m Manchester city centre campus on Great Ducie Street is up and running with phase two under construction.
