Funding deal to unlock £400m Manchester scheme

Developer Landsec has struck a deal with Mayfield Partnership to fund the first phase of a £400m mixed-use scheme along the south side of Manchester city centre.
The deal allows Landsec/U+I to begin drawing down land for two office buildings totalling 320,000 sq ft and a 581-space multi-storey car park, which were granted planning consent back in January 2020.
The developer now expects to be on site in 2023 with a 24-month programme to deliver of the first building – the 76,000 sq ft