Aviva Investors has joined forces with Allied London to transform the former studios of Coronation Street in Manchester into the city’s latest development, Enterprise City. Aviva will initially commit £300m to the project, which is on the site of the former Granada television studios.
The development will comprise of over one million sq ft of commercial mixed-use space. The St John’s site will provide approximately 560,000 sq ft of workspace for the creative industries, TV and film studios, hotel and leisure, and various property infrastructures across 10 buildings.
Enterprise City aims to provide spaces for start-ups and small and medium-sized companies, production facilities for media companies, and buildings designed to attract global brands and industry leaders. The technology giant, Booking.com, has already taken 220,000 sq ft in Manchester Goods Yard at Enterprise City.
Michael Ingall, Chief Executive of Allied London commented “Enterprise City is a concept Allied London has envisioned from scratch. Within eighteen months we have created something of significant value and importance for both Manchester’s business community.
“The transformation, re-adaption of old disused commercial buildings and a dynamic masterplan for new buildings was the catalyst for creating a new enterprise community for use by today’s modern industry.”
Daniel McHugh, Managing Director of real estate investments at Aviva Investors, said “This scheme will deliver modern, vibrant space for enterprise and creative industries to thrive. We look forward to working closely with Allied London, Manchester City Council and regional stakeholders over the coming years to deliver this significant new project that creates outstanding real estate and a compelling long-term opportunity for our investors.”