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ID Manchester partner selection process scheduled to resume
The University of Manchester announced it has resumed the procurement process to find its development and investment partner to deliver the £1.5 billion new world-class innovation district ID Manchester.
The University paused the process in March due to the COVID-19 pandemic, having already notified the four highest scoring bidders it will be taking forward into the detailed dialogue stage.
The pause has enabled both the University and the bidders to consider and deal with effects of the pandemic. The final partner selection will now be made in Spring 2021.
Professor Dame Nancy Rothwell, President and Vice-Chancellor of The University of Manchester, said: “The University is committed to the delivery of ID Manchester and our ambition to create the innovation capital of Europe is unwavering. Having paused, reviewed and reflected, we now have a way forward to resume the final stage of the selection process to find our joint venture partner.”
Diana Hampson, Director of Estates and Facilities at The University of Manchester said: “We look forward to beginning the detailed dialogue with the selected bidders. Pausing the process has allowed ourselves and the bidding teams space to deal with the immediate impact and challenges created by the pandemic. ID Manchester is an incredibly exciting project and we are looking forward to progressing to the next stage.”
The Vision for ID Manchester
ID Manchester will be a new neighbourhood that will be an engine for economic growth with the potential to create over 6,000 new jobs.
The University has strong track record in developing long-lasting, commercial relationships with leading global organisations such as Rolls Royce, the BBC, BP, ARM, Boots, National Grid, Colgate Palmolive, Siemens, Unilever, AstraZeneca and GlaxoSmithKline (GSK).
Since 2004 the University has contributed more than £746 million to the economy through nurturing and developing businesses spinning out of its research and development facilities, and it is on these foundations it seeks to build ID Manchester.
Diana Hampson said “ID Manchester will be a unique new neighbourhood. Our vision draws on Manchester’s ecosystem of ideas, discovery, research and development, and ID Manchester will provide the canvas on which all those strands can come together to take urban regeneration to a whole new level. ID Manchester will be where our most valuable discoveries today, are tried, tested and developed into the technology, buildings and commerce of tomorrow.”
The available development space for ID Manchester to 4 million square feet (370,000 square metres) and updated indicative development plans include:
- 2.6 million square feet (240,000 square metres) of new work space
- Three acres (1.2 hectares) of high-quality public realm
The site benefits from existing green space and the unique feature of the 650,000 square feet (60,000 square metres) Grade II-listed Sackville Street Building, which offers a fantastic opportunity for repurposing.
The University occupies the recently opened £60 million Masdar Building, home to the Graphene Engineering Innovation Centre, and the Manchester Institute of Biotechnology at the south end of the site and is looking for a partner to develop the remaining c.18 acres (7.3 hectares) of the site. The University is stepping up its efforts in graphene commercialisation.
ID Manchester is adjacent to Manchester’s main public transport hub, Piccadilly Railway Station and is a 20-minute train journey to the international airport.
ID Manchester is one of the last major development opportunity sites in the city, another piece in the jigsaw of the major regeneration taking place in that area of the city, including Mayfield, London Road Fire Station, Kampus, Circle Square and the £1 billion investment already being made into its main Oxford Road campus by The University of Manchester.
The announcement was covered by all main property titles including Property Week, North West Insider, and React News.
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ID Manchester partner selection process progresses to final stage
The University of Manchester announced it has progressed to the next stage of the process to find a development and investment partner to deliver the £1.5 billion new world-class innovation district ID Manchester.
At the end of February, the University received outline submissions it had invited from bidders following the initial round of dialogue. The University has notified all of the bidders that it has reviewed the submissions received and will proceed in due course with detailed dialogue with the four highest scoring bidders.
In light of the Coronavirus outbreak, the University has notified the four highest scoring bidders that it is pausing the procurement process and the timetable for the detailed dialogue stage for eight weeks, when the situation will be reviewed.
Professor Dame Nancy Rothwell, President and Vice-Chancellor of The University of Manchester, said: “Clearly, it makes sense to pause the procurement process as we all adapt to the unprecedented circumstances caused by the coronavirus outbreak, but we remain committed to this project and I still truly believe we can make ID Manchester the innovation capital of Europe, providing the perfect conditions for organisations of all sizes and from different sectors, to share knowledge and work together turning incredible ideas into reality.”
Diana Hampson, Director of Estates and Facilities at The University of Manchester said: “This is more than a property transaction. ID Manchester will create a new, world-class innovation district situated in the heart of Manchester and alongside the University. Although we are pausing the procurement process in response to current circumstances, we look forward to resuming detailed dialogue with the selected bidders (perhaps using some alternatives to face-to-face meetings) in order to advance this exciting project.”
The Vision for ID Manchester
ID Manchester will be a new neighbourhood that will be an engine for economic growth with the potential to create over 6,000 new jobs.
The University has strong track record in developing long-lasting, commercial relationships with leading global organisations such as Rolls Royce, the BBC, Siemens UK, Colgate Palmolive, Unilever and GlaxoSmithKline (GSK).
Since 2004 the University has contributed £746 million to the economy through nurturing and developing businesses spinning out of its research and development facilities, and it is on these foundations it seeks to build ID Manchester.
Diana Hampson said “ID Manchester will be a unique new neighbourhood. Our vision draws on Manchester’s ecosystem of ideas, discovery, research and development, and ID Manchester will provide the canvas on which all those strands can come together to take urban regeneration to a whole new level. ID Manchester will be where our most valuable discoveries today, are tried, tested and developed into the technology, buildings and commerce of tomorrow.”
The available development space for ID Manchester to 4 million square feet (370,000 square metres) and updated indicative development plans include:
- 2.6 million square feet (240,000 square metres) of new work space
- Three acres (1.2 hectares) of high-quality public realm
The site benefits from existing green space and the unique feature of the 650,000 square feet (60,000 square metres) Grade II-listed Sackville Street Building, which offers a fantastic opportunity for repurposing.
The University occupies the recently opened £60 million Masdar Building, home to the Graphene Engineering Innovation Centre, and the Manchester Institute of Biotechnology at the south end of the site and is looking for a partner to develop the remaining c.18 acres (7.3 hectares) of the site.
ID Manchester is adjacent to Manchester’s main public transport hub, Piccadilly Railway Station and is a 20-minute train journey to the international airport.
ID Manchester is one of the last major development opportunity sites in the city, another piece in the jigsaw of the major regeneration taking place in that area of the city, including Mayfield, London Road Fire Station, Kampus, Circle Square and the £1 billion investment already being made into its main Oxford Road campus by The University of Manchester.
The news was covered by business and property press including Property Week, North West Insider, Place North West, University Business,
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ID Manchester partner selection process progresses to second stage
The University of Manchester announced it received an impressive response to its international search to find a development and investment partner to deliver the £1.5 billion new world-class innovation district ID Manchester.
The University has reviewed all the submissions and has invited the six highest scoring candidates to move on to the dialogue stage of the procurement process. As part of this next stage, further submissions will be made to the University in February next year.
Professor Dame Nancy Rothwell, President and Vice-Chancellor of The University of Manchester, said: ”The high calibre and quality of the submissions we received clearly shows our vision for ID Manchester, coupled with our track record as an engine of innovation and research excellence, and Manchester’s continued transformation into a major European city has captured international, as well as national attention.”
“ID Manchester is far more than a property transaction; I truly believe we can make ID Manchester the innovation capital of Europe, providing the perfect conditions for organisations of all sizes and from different sectors, to share knowledge and work together turning incredible ideas into reality.”
Diana Hampson, Director of Estates and Facilities at The University of Manchester said: “ID Manchester will create a new, world-class innovation district situated in the heart of Manchester and alongside the University. It is where the next generation of game-changing businesses will be nurtured, and it will bring huge economic benefits to our city region and beyond.”
Sir Richard Leese, leader, Manchester City Council said: “I am very pleased to hear the University has received such impressive submissions from potential partners for ID Manchester, it is just another example of the continued international impact of Manchester and the University.”
This news story was featured in Insider Media and Place North West.
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Ascend appointed as Affinity Living’s sole letting partner
Ascend, the Manchester head-quartered residential lettings agency, announced it has been appointed by Affinity Living as the sole letting partner for its Build to Rent (BtR) developments Riverside, Riverview and Embankment West, a total of 878 new homes.
The first phase of homes in Riverside will be ready to move into in the new year. In the meantime, Ascend has created a virtual reality suite at its Manchester Deansgate branch to help future residents choose their home and its décor, as well as learn about the huge range of excellent facilities on offer to them including 350mb free broadband, dry cleaning and laundry services, co-working spaces and regular social events.
Ged McPartlin, managing director, Ascend said: “We are absolutely delighted to be working with Affinity Living and its fantastic BtR developments. Riverside is just the start of what is going to be a great collection of buildings. I have already got potential residents excited to be choosing their own decor and furniture, they are thrilled they can even bring their pets with them! The great design and the exceptionally high-quality facilities and amenities available to residents will really set Affinity Living Riverside as one of, if not the, best places to live in the city.”
The 17 storey Riverside comprises 190 homes which are a mix of studios, one, two and three bedroom apartments. All apartments offer amazing views, maximized by the floor to ceiling height windows. Located on the bank of the River Irwell next to the Lowry Hotel, Riverside is just a short walk to Spinningfields and Deansgate.
Helen White, managing director, Affinity Living said: “We are thrilled to have Ascend on board for our developments. They have demonstrated an excellent understanding of our Affinity Living brand, which is about far more than providing incredible apartments. We aim to offer our customers as much choice as possible so they can pick an apartment that matches their individual needs, which is why there are 15 different room layouts, the option of furnished or unfurnished, bath or shower. When they move in, they can decorate, tweak and personalise their home to reflect their own style.
“Ascend know what makes our residents tick and their marketing is pitched perfectly. The virtual reality marketing suite Ascend has created means everyone can get a taste of life in Riverside well ahead of building work being complete.”
The other BtR developments Ascend will provide the lettings service for are Riverview located next to Riverside, a 35-storey tower of 332 apartments which will complete in the third quarter of 2021 and the 356 apartments at Embankment West on Chapel Street which is due for completion next year.
The appointment by Affinity Living means Ascend is now one of the leading BtR agents in Manchester having recently achieved major rental lettings successes at Clippers Quay in Salford for Grainger PLC and Anaconda Cut for Atlas Residential.
Ascend has increased its dedicated BtR team in Manchester to 30 people which includes marketeers as well as negotiators.
This news story was featured in Insider Media.
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Ascend achieves lettings success at key Build to Rent developments
Ascend, the Manchester head-quartered residential lettings agency, announced it has helped two of the largest Build to Rent (BTR) developments in the Manchester City Region significantly increase rental returns.
Grainger PLC appointed Ascend as its sole lettings partner for Clippers Quay, Salford Quays, just twelve months ago. Since then both phases one and two have been fully let, with the latter achieving an increase of 25% on rental return for the development.
At 614 homes Clippers Quay is the largest BTR scheme outside London, the development also includes a cinema room, 24-hour gym, co-working office space and a private dining area.
Sam Brown, Lettings Manager (North) PRS and Build to Rent at Grainger PLC, said: “Having worked with Ascend on numerous projects, we approached them to conduct the lettings and promotion of the Clippers Quay development. We were confident in this decision, knowing their track record of promoting and letting PRS developments
“Ascend took to the task instantly, setting up a custom designed marketing suite in its Deansgate branch, specifically for the promotion of Clippers Quay. We are thrilled the team managed to let 50 homes, 33% of phase one, within just three weeks.
“Ascend has used its extensive knowledge of the industry to successfully increase lettings for a number of Grainger PLC developments in recent months. We are delighted with Ascend’s quality of work, vast market knowledge and the support of its dedicated BTR team.”
In March this year national developer, Atlas Residential, appointed Ascend as lettings agent for its Anaconda Cut scheme. Salford’s tallest building, Anaconda Cut consists of one, two and three-bedroom apartments set over 44 storeys. With amenities including a gym with staffed personal trainers, yoga studios and a sky lounge, the building has proved a popular choice for Ascend’s client base with 70% of the building now leased.
Ged McPartlin, managing director, Ascend said: “We’ve had an incredible twelve months dealing with leasing homes across some of the most outstanding new residential developments we’ve ever seen in Manchester and Salford. The popularity of Clippers Quay and Anaconda Cut show the demand for high quality homes is very strong and are attracting residents who are new to the city centre and living here for the first time.”
Ascend has increased its dedicated BTR team in Manchester to 30 people which includes marketeers as well as negotiators. The agency expects to see further rapid growth having recently signed partnership agreements with Select Property Group and its Affinity Living portfolio.
This news story was featured in Property Investor.