Manchester City Council is set to buy the police station in Bootle Street for around £2m to allow a mixed-use development by a company owned by former Manchester United footballers Ryan Giggs and Gary Neville.
In a report ahead of a meeting of the council's executive on Wednesday, the council outlined plans to enter into arrangements with the police commissioner to purchase the station. It would then agree a land pooling and land sale arrangement with Jackson's Row Development Company, owned by Giggs, Neville and developer Brendan Flood.
Once the deal is confirmed, JRDC will be able to progress with plans to redevelop the station and its adjoining sites, which include the United Reform Synagogue, the Abercrombie public house and a parcel of open land.
Greater Manchester Police is due to move out of the Bootle Street station during 2014 as part of its wider relocation strategy.
According to the council report, JRDC is in advanced negotiations with the synagogue, Enterprise Inns which owns the Abercrombie pub, and the owner of the open land.
JRDC has secured a contractual agreement with a four star international hotel to operate on the site. The scheme will also include office, retail and leisure opportunities.
The council said the site "has the potential to play a key role in linking and integrating Spinningfields with the Civic Quarter, allowing for continuous high quality accommodation and public realm across this stretch of the city centre.
"The vision for the Bootle Street site is to create a new mixed-use development of local and regional importance."