Bruntwood SciTech has been confirmed as the preferred joint venture partner for the £1.5bn ID Manchester development ahead of the final agreement being signed in the autumn.
The University of Manchester officially announced the property giant today after its board of governors approved the selection last month.
The university and Bruntwood SciTech, a 50:50 joint venture between Bruntwood and Legal&General, will now form a new joint venture to "enhance, develop and deliver the vision" to establish ID Manchester as a new "innovation district, home to a global community that will play a vital role in the future of the UK science and technology sector", with the potential to create over 10,000 new jobs in the next 10-15 years.
When complete, ID Manchester will provide over 4m sq ft, including 2.6m sq ft of new commercial workspace and a £28m investment in the public realm.
The area benefits from existing green space and the 650,000sq ft grade II-listed Sackville Street Building.
Professor Dame Nancy Rothwell, president and vice-chancellor of The University of Manchester, said: "The journey to find our joint venture partner to work with us on delivering ID Manchester has been hugely rewarding for everyone involved.
"The quality and calibre of the submissions we received was truly outstanding and I would like to extend our gratitude to those who were unsuccessful.
"Innovation is a core theme for the university as we enter our third century. The opportunity afforded by ID Manchester will provide more chances for our research to have an impact on the real world, it will be a place where we address the challenges facing the world in the 21st century and to explore new ideas to improve the health, wealth and happiness of our fellow citizens.
"Bruntwood SciTech shares many of the same values and principles as The University of Manchester and throughout our detailed discussions with them, their commitment and approach to sustainability, inclusivity and collaboration aligned closely with our vision for ID Manchester.
"We look forward to working together to create an outstanding innovation district which will play a large role in helping the UK to build back better."
Chris Oglesby, executive chair, Bruntwood SciTech, added: "From the splitting of the atom, to the first isolation of graphene, Manchester has been at the forefront of global innovation.
"The ambition to create an innovation district of this size and scale will help transform the UK’s knowledge economy and cement the UK’s status as world leader in science, technology and engineering.
"Working in partnership with The University of Manchester, we will create a global exemplar that will support national and international investment into science and technology, creating new pathways for the translation of research, and new cultures for enterprise.
"It’s also an opportunity to build something with purpose and a social conscience at its heart from the outset. ID Manchester will champion a more progressive and sustainable model of economic success, one that works for all people and the planet.
"To be selected to deliver a project of such scale, ambition and international significance is a privilege and we cannot wait to get started."
Nigel Wilson, group chief executive Legal&General, said: "Universities are a key driver for the growth of cities, acting as a magnet for talent and incubator of growth and innovation.
"They have an integral role in shifting the dial for future success. This partnership is a unique opportunity to invest in, and develop, a significant, long-term and patient capital project that is economically viable and socially useful.
"Supporting the government’s 'levelling up' agenda, it embodies inclusive capitalism in one of the UK’s strongest regional cities, as we build back better and help create a more inclusive post-pandemic society."
It is expected the joint venture agreement will be signed by the autumn.
The partnership will see Stanhope plc appointed as strategic development manager in their first project outside of the South East of England.
Diana Hampson, director of estates and facilities at The University of Manchester, added: "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.
"We are looking forward to working with Bruntwood SciTech to build on our vision and deliver ID Manchester."
