ITV's Granada television base in Manchester's Quay Street will be redeveloped by hotel specialist Surinder Arora after he beat four other bidders to the prized site.
The investor-developer behind the Arora International Hotel in Princess Street and the Sofitel hotel at Heathrow's Terminal 5, pipped Allied London, BNS Properties, London & Regional and a joint venture between Ask Developments and Crosby Lend Lease to become preferred developer.
It is still not clear whether ITV Granada will remain at the site, with talks between the broadcaster and Peel over a relocation to Media City in Salford Quays ongoing. Insiders suggest a compromise of part relocation and part retention is likely. The submissions from Arora and his competitors did include office and studio options for Granada at the Quay Street site.
Arora will now begin detailed design work for a mixed-use scheme on the 24-acre site, which sits between Allied London's Spinningfields and the River Irwell.
DTZ is a retained adviser to ITV.
All parties declined to comment.