The former site of Boddingtons Brewery has been acquired in a deal that will kick start a near £200m project to construct hundreds of homes.
Property developer Salboy has snapped up the 52,700 sq ft site on the northern edge of central Manchester for an undisclosed sum.
It plans to bring forward a £195m mixed-use scheme that will span five buildings, including a 26-storey tower.
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The development will include 556 new homes for sale and rent, 31,000 sq ft of commercial and retail space, rooftop terraces and landscaped gardens.
The site was occupied by Boddingtons Brewery until 2005 and has been earmarked for development since Manchester City Council first published its strategic regeneration framework of the land in 2015.
An official name for the planned development is expected to be revealed "in due course".
Simon Ismail, co-founder and managing director of Salboy, said: "We are delighted to be the new owners of the Boddingtons site - an ideal location for urgently needed regeneration thanks to its close proximity to city centre leisure, business, higher education and transport links.
"The future of this site has been the subject of local speculation for too long and we are excited to mobilise construction as soon as early 2023 to bring more sought-after homes to people who want to work, live and study in Manchester."
The scheme will be built by Salboy’s dedicated construction partner DOMIS with construction with mobilisation due on site early 2023.
Salboy, which is also owned by Betfred co-founder Fred Done, is also working with Relentless, the property development company owned by Gary Neville, to deliver the St Michael's scheme.
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