U+I has been selected as the preferred party to develop Mayfield Quarter in Manchester.
The giant project is due to include 1,300 homes, 807,000 sq ft of offices, a 350-bedroom hotel, a park along the River Medlock, as well as retail and leisure.
The developer fought off competition from Urban & Civic and a joint venture between Carillion, Ask Real Estate and Patrizia. A formal announcement is due at the end of next week.
• From April: Mayfield shortlist revealed
• From May: Argent Related drops out of Mayfield Quarter
U+I had not initially been shortlisted for the project but joined the race when Argent Related dropped out of the running in May in order to focus on its initial pipeline of projects.
U+I will now form part of the Mayfield Partnership joint venture which includes LCR, Manchester City Council and Transport for Greater Manchester.
A Mayfield Partnership spokesman said: “The procurement process to select a development partner for Manchester Mayfield is currently in a standstill period, in accordance with OJEU regulations. Once that period has come to an end, the Mayfield Partnership, comprising LCR, Manchester City Council and Transport for Greater Manchester, will announce the preferred bidder to lead the regeneration of this 24-acre, key gateway site in Manchester City Centre.
“We expect to be able to make this announcement on 16 September.”
JLL is advising the Mayfield Partnership.
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