Deal struck for £400million city centre development as council agrees to buy hotel car park
Work on the first phase of development at Mayfield is set to start next year as a deal to fund a £400m office scheme in central Manchester has been struck. The Mayfield Partnership, a joint venture between developers U+I and LCR with Manchester council and Transport for Greater Manchester, has agreed to fund the first phase of development at the 24-acre site together with Landsec.
It comes a couple of months after the city centre's first new park in more than 100 years was opened as part of the plans for the site near Piccadilly Station. The overall masterplan for Mayfield includes more than 1.5m sq ft of office space and 1,500 homes as well as food, leisure and retail facilties and more than 13-acres of public greenspace, including the newly opened Mayfield Park.Developers have described this is a 'landmark moment' for the Mayfield plans.
As part of the development of the 6.5-acre park, which was funded by a £23m grant from the government, the previously hidden River Medlock which runs through the heart of the site has been uncovered and cleaned. Planning permission for Phase 1 of the Mayfield development was granted in early 2020 and work is set to start on site in 2023 with a 24-month building programme planned for the 76,000 sq ft Poulton office block and the car park.
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