ID Gets Into Serious Dialogue With JV Partners
So now the real talking begins.
Or rather, it has decided who it does not fancy. A very long long-list of expressions of interest has been reduced to six high-scoring candidates who will "move on to the dialogue stage of the procurement process," the University said in a statement. As part of this next stage, further submissions will be made to the University in February ahead of a final decision this time next year.
A joint venture is likely.
The University will contribute by providing long leasehold transfers on a plot-by-plot basis, with the partner providing the money and know-how. The University said it would hold a “no less than 35%” equity stake in any joint venture, PlaceNorthWest reported in September.
ID Manchester is one of the last major development sites in the city, and will form the northern bookend to the city's £3.6B GVA Oxford Road science corridor.