Chancellor George Osborne will today unveil a detailed masterplan by MAG Developments for the £659m Airport City scheme adjacent to Manchester Airport.
MAG Developments, the property arm of Manchester Airports Group, plans to deliver more than 5m sq ft of commercial space on a 150-acre site, with the aim of attracting international occupiers. Last March, the government designated the site as part of a wider 290-acre enterprise zone.
The group’s stage two masterplan reveals that, over the next 15 years, Airport City will be developed to comprise 1.5m sq ft of offices, 1.4m sq ft of logistics and warehouse space, 650,000 sq ft of advanced manufacturing facilities, up to 100,000 sq ft of retail and leisure, and 2,500 hotel bedrooms.
A detailed planning application for the first phase of the scheme is expected to be submitted during the first quarter of this year. Phase one will comprise 1.9m sq ft, including around 550,000 sq ft of offices, 500,000 sq ft of logistics space, 100,000 sq ft of advanced manufacturing and 700,000 sq ft of hotels.
The scheme’s centrepiece will be an 2,600ft-long landscaped park, featuring shops, bars and restaurants.
Last December, MAG Developments announced that it will seek developers to partner it on the delivery of Airport City. The firm will formerly begin the hunt for partners next month.
Charlie Cornish, chief executive of Manchester Airports Group, said: “Airport City is a concept we have been developing for a number of years, and we are now at a critical stage in the project’s life as we bring it to the market and commence phase one.
“We were enthused by the government’s recognition of Airport City’s potential when it was named as the focal point of its new enterprise zone, because we feel that this project presents a generational opportunity not only for the wider region, but nationally, in order to attract new investment to the UK during the economic downturn.”
daniel.cunningham@estatesgazette.com
