The University of Manchester has selected a joint venture between Bruntwood SciTech and London-based investor and developer Stanhope to deliver the 4m sq ft mixed-use scheme, it is understood.
Earlier this month, Place North West revealed the university was considering bids from two parties for the £1.5bn estate overhaul, Bruntwood SciTech with Stanhope and Peel L&P with Urban Splash.
The original four-party shortlist featured HBD and Singapore-based investor Mapletree Investments but both dropped out of the running earlier this year.
ID Manchester, one of the highest profile regeneration opportunities in the country, is intended to attract science, research, development, cultural and technology companies to the university’s property estate.
The university is freeing up the site as it moves to new buildings south of the inner ring road in its southern campus, such as the £400m Manchester Engineering Campus Development, which is nearing completion after a funding freeze delayed university projects.
At ID Manchester, a total of 2.6m sq ft of offices and other workspace is proposed, along with some residential development and three acres of public realm.
The 18-acre city centre site is next to the 650,000 sq ft, grade two-listed Sackville Building, which is to be repurposed as part of the ID Manchester project, and the university will also continue to occupy the £60m Masdar Building, home to the Graphene Engineering Innovation Centre.
The site was formally home to the University of Manchester Institute of Science & Technology, or UMIST, which merged with the University of Manchester in 2004.
Sheppard Robson, Arup, and Faithful+Gould have so far supported the university to develop the vision for ID Manchester, based on the principles of the existing framework for the site, drawn up by Bennetts Associates. This will be refreshed now a JV partner has been chosen.
CBRE is advising the university on the procurement process.
The University of Manchester and Bruntwood SciTech declined to comment.
Elsewhere in Manchester, Bruntwood SciTech, a joint venture between Bruntwood and Legal & General, is delivering the Circle Square mixed-use scheme on Oxford Road.
Once complete, Circle Square will feature more than 1,700 new homes, 1.2m sq ft of workspace and more than 100,000 sq ft of retail and leisure space.