ITV's attempt to sell Granada site is thwarted again
ITV's 14-acre Quay Street complex is back on the market after a proposed sale to Manchester developer Genr8 Developments fell through.
Property Week has reported that the completion of the sale to Genr8, the preferred bidder for the site, has been hit by funding difficulties.
Now, talks with other bidders including Ikea subsidiary Landprop and sustainable developer The Bion Group are thought to have resumed.
The site, which is located between Spinningfields and Castlefields, was put up for sale in 2011 through Jones Lang LaSalle. ITV will complete its move to Peel’s MediaCityUK this summer.
The site is located between Spinningfields and Castlefields, and was put up for sale in 2011 through Jones Lang LaSalle.
The ITV site has consent for 1.2m sq ft of offices, 200,000 sq ft of retail, 895 homes and a 575-space car park.
It is the latest problem to hit ITV's attempts to sell the iconic Granada site.
In 2008, they came close to a £100m sale to hotelier Surinder Arora, but the deal collapsed as the UK economy dived into recession.