Argent, Development Securities, Miller Developments and Standard Life have all made the official shortlist to redevelop the Elisabeth House site in Manchester city centre.
Greater Manchester Property Venture Fund plans to form a joint venture to transform the prime site on St Peter's Square into an office tower containing around 200,000 sq ft.
GMPVF paid £15m for the 100,000 sq ft building in 2003. The fund is currently reviewing its portfolio and recently sold the Deva Centre in Salford to Benmore Properties subsidiary Four Two Four for in excess of £13.25m.
GVA Grimley represents GMPVF.