U+I, the mixed-use property regeneration specialist, has been appointed by the Mayfield Partnership to develop the Mayfield Quarter in Manchester, an £850 million urban regeneration project that will leave a lasting legacy for the city and the wider UK. U+I will commit up to £20 million equity to the project with an ambition to submit an outline planning application in Q2 2017, and a detailed planning application for the first phase of development in Q3 2017.
The Mayfield Partnership is a public sector consortium comprising Manchester City Council, Transport for Greater Manchester and LCR. The redevelopment will deliver a mixed-use community on a 24-acre gateway site adjacent to Piccadilly station that has been derelict for over a decade. The proposed masterplan for the regeneration includes the construction of over 1,000 homes, a new hotel and 807,000 sq. ft. of offices as well as leisure and retail space, with the potential to create 7,500 jobs.
U+I has an established presence in Manchester having been involved in several projects in the city including the Manchester Arena, and is currently developing the Axis Tower alongside the Property Alliance Group.
Matthew Weiner, Chief Executive, U+I said: “We are very proud to be selected as the preferred partner on this unique project, underlining our strengths in mixed-use regeneration and public private partnership projects. U+I has built a successful track record working alongside public sector bodies to deliver innovative and award-winning schemes."