Bruntwood is poised to secure a development agreement for Network Rail’s £400m project around Oxford Road station in Manchester after its last rival bidder pulled out.
Muse Developments has withdrawn from the final stages of the public sector tender process, leaving Bruntwood
the only party still bidding for the 500,000 sq ft opportunity.
Three other shortlisted parties – Capital & Centric with Carillion, Valad Europe, and First Step – withdrew from the bidding process earlier this year.
Bruntwood is poised to secure a development agreement for Network Rail’s £400m project around Oxford Road station in Manchester after its last rival bidder pulled out.
Muse Developments has withdrawn from the final stages of the public sector tender process, leaving Bruntwood
the only party still bidding for the 500,000 sq ft opportunity.
Three other shortlisted parties – Capital & Centric with Carillion, Valad Europe, and First Step – withdrew from the bidding process earlier this year.
The triangular site borders Bruntwood’s Oxford Road estate and has the potential for a high-rise mixed-use scheme.
A significant portion of the scheme is likely to be residential and office use, with hotel, leisure and retail uses on the perimeter facing Oxford Road and Whitworth Street West.
The apparent lack of appetite from developers for the complex station-led regeneration came as Manchester city council launched a search for a development partner for the £750m Mayfield Quarter, which hinges on Piccadilly station’s HS2 and Northern Hub upgrade plans.
Developers are understood to have withdrawn from Oxford Road for a variety of reasons, and market sources have questioned the viability of the council’s vision for the scheme.
The site would be the latest addition to Bruntwood’s rapidly expanding Oxford Road portfolio, which includes a majority stake in Manchester Science Partnerships. The academic and business corridor also includes the 2.5m sq ft former BBC North headquarters.
DTZ was appointed by Network Rail and Manchester city council in August 2014 to find a party to develop the Oxford Road project, with the shortlist drawn up in December.
Deloitte Real Estate is advising on the BBC studios.
Marshall wins Brazennose race
Marshall Group has beaten Kier to secure a prized development role partnering M&G on the 162,000 sq ft redevelopment of Brazennose House in Manchester. The long-dormant £140m project fronts Lincoln Square near Deansgate. In 2011, PRUPIM secured planning consent for 150,000 sq ft of grade-A offices, 3,600 sq ft of shops and 4,800 sq ft of restaurants in front of St Mary’s Church.
chris.berkin@estatesgazette.com
