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22nd January 2015
London and Continental Railways (LCR), Manchester City Council, and Transport for Greater Manchester have jointly entered into a land pooling agreement which will unlock new regeneration opportunities around Manchester.
The agreement will see the Mayfield Quarter transformed into a vibrant and sustainable mixed-use development that is expected to deliver over 7,500 office, retail, leisure and construction employment opportunities through the creation of 75,000m² of office space, together with 1,300 homes, a 350-bedroom hotel, retail and leisure facilities and a new six acre city park centred along a remediated River Medlock.
The scheme will regenerate a significant portion of the city centre adjacent to one of its main transport hubs. The Mayfield Strategic Regeneration Framework (SRF), endorsed by Manchester City Council in January 2014, sets out a vision for Mayfield to become a distinctive new urban quarter that defines a gateway into Manchester and extends the high quality environment of the city centre. LCR has continued to work closely with the Council to develop the vision for the area, to look at maximising the regeneration benefits by careful integration with the Northern Hub and HS2 initiatives, and exploring how it could evolve driven by a combination of public and private sector investment.
Sir Richard Leese, Leader of Manchester City Council, said:
"This is a significant step towards realising a regeneration opportunity which is set to create thousands of jobs, much-needed new homes and a new six-acre public park. The location and size of this site make it a sustainable location for growth and development and a logical progression in the growth of the city centre. Mayfield will complement the regeneration of the wider Piccadilly area, building on the opportunities created by HS2 and the Northern Hub, and act as a catalyst for further benefits."
David Joy, Chief Executive of LCR said:
“We are very pleased to have reached an agreement with Manchester City Council and Transport for Greater Manchester which secures the future of the Mayfield Quarter and assists the wider regeneration of Manchester. The transformation of Mayfield into an urban development will not only provide a new high quality public and commercial space but will enhance connectivity beyond the site and act as a catalyst to maximise the regeneration potential of the area. We have made good progress up to this point, including discussions with Government Property Unit (GPU) about government tenants taking pre-lets of up to 40,000m² of office space, and will continue to work with our partners to ensure the successful delivery of a scheme which brings long term benefits to the local area.”
Aerial View of Mayfield - Vision for a sustainable mixed-use quarter focussed around a major new city park and next to Piccadilly Station
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