The Co-operative Group has named a joint venture between Delancey and Landid as its preferred partner on its £800m NOMA scheme in central Manchester.
The group said that Delancey and Landid are now in an exclusive lockout period as detailed talks continue.
The Co-operative Group launched its hunt for a jv partner at last year’s MIPIM. Delancey and Landid were understood to have gone head-to-head with local developer Bruntwood for the opportunity.
The Co-operative Group aims to transform a 20-acre area of Manchester city centre into a mixed-use campus featuring 4m sq ft of offices, homes, shops and leisure space.
The scheme’s first phase, a £100m new headquarters building for the Co-operative Group, will complete in September.
David Pringle, director of NOMA, said: “This represents a great opportunity to bring together businesses of equal pedigree and financial standing. Delancey and Landid have the track record, undoubted talent and complementary expertise that will enable us to drive the NOMA project forward in the way we have always intended.
“Delancey has already demonstrated a commitment to Manchester through previous developments, and have an excellent understanding of the national and North West property markets. This, coupled with our shared experience and brand reach, will ensure that investors and occupiers will be comfortable and confident working with both parties.”
Paul Goswell, managing director at Delancey, added: “NOMA is one of the most exciting redevelopment opportunities in the UK today. It is part of an incredibly vibrant city centre and has the critical mass needed to create a new integrated residential and commercial district, in keeping with today’s urban lifestyles. We are delighted to be in exclusive talks with The Co-operative and, with our partner Landid, are relishing the challenge of creating something truly special for Manchester.”