Greater Manchester Property Venture Fund has started the procurement process for an architect to design a scheme for the Island Site on Manchester’s John Dalton Street.
GMPVF has held the site since 2011 and intends it to house a new office building, replacing the three existing buildings on the site – Old Colony House, Ridgefield and Grange House, which between them total 65,000 sq ft.
Much of the office space is already vacant, and with leisure tenants including the popular Grill on the Alley served notice, formal vacant possession is due in 2018.
The new building is expected to total around 100,000 sq ft with floorplates of 10,000 sq ft, with leisure and retail at ground floor.
In February, procurement started for a joint venture development partner, with submissions originally due in late March. That process is still ongoing, although a GMPVF spokesman said that selections on both the development partner and architect will be made later this year.
A professional team will then be assembled ahead of planning. GMPVF is hoping for completion in either 2020 or 2021.
GMPVF acquired the Island Site in November 2011, months after it was put up for a sale by a development consortium led by Bluemantle. Although the value of the deal was undisclosed, the guide price for the site was £8.3m.