Old Trafford-based property company Generation is the latest contender to emerge on the shortlist of bidders for London Road Fire Station in Manchester.
Generation is owned by Shehzad Chaudhri and Zahid Anwar. Generation is currently drawing up plans for the redevelopment of the former MMU Hollings buildings known as the Toast Rack and the Fired Egg in Fallowfield.
The £5m Hollings campus acquisition in October 2014 was funded by Estrela Properties, controlled by a Libyan investor.
Generation is understood to be proposing a mixed-use development of London Road Fire Station, which was put on the market in April by Britannia Hotels through agent Christie & Co.
Allied London revealed it was on the shortlist this week. There is believed to be one further bidder on the shortlist. The asking price is rumoured to be £10m.
Second round offers are due on 23 July.
All parties declined to comment.