Network Rail and Manchester City Council have appointed DTZ to find a developer for a major mixed-use scheme on land at Oxford Road train station including the outgoing Cornerhouse cinema.
The site has the potential for up to 500,000 sq ft of development including offices, hotel and residential, together with leisure and retail, on the Oxford Road and Whitworth Street West frontages.
DTZ has been appointed as advisor for the selection of a development partner to bring forward development on a phased basis.
Oxford Road is Manchester's second busiest railway station, after Piccadilly, occupying a strategic location on Oxford Road at the head of Corridor Manchester, with First Street to the west and the new business quarter centred on St Peter's Square to the north.
The development partners said they want to see "the wider regeneration of this part of the city centre; improve the profile of the station and area around the station; create a mixed-use destination and new setting for the station; and improve the rail user experience."
Ken Bishop, senior director at DTZ responsible for the project, said: "We are seeking a development partner with a proven track record in city centre regeneration, preferably with experience in development adjacent to an operational railway line. This opportunity has great potential to make a significant intervention and contribution to the regeneration of this part of the regional centre."
The Cornerhouse will vacate the corner site when it moves to its new base at HOME in First Street.