(London) – Aviva Investors, the global asset management business of Aviva plc, announces it has reached practical completion of its development at Old Granada Studios, part of the new Enterprise City neighbourhood in the St John’s area of Manchester.
Old Granada Studios is one of the centrepieces of Enterprise City. The former home of Granada TV, it is now home to Soho House members’ club, together with a 128-bed Mollies Hotel and Diner, both of which are now open and trading. It also sits adjacent to Aviva Studios, a landmark cultural venue which is home to Factory International, one of the city’s most prominent arts organisations, hosting a year-round programme of original creative work, music and special events by some of the world’s leading artists.
Completion of Old Granada Studios comes after Aviva Investors committed an initial £300 million to delivering the new neighbourhood in 2018, originally acquiring three existing buildings and funding the development of an additional three buildings across the neighbourhood, in partnership with Allied London. As well as the now-completed Old Granada Studios, these include Versa Manchester Studios, Bonded Warehouse, Manchester Goods Yard, and The Globe Building, together with future development sites at 1 Grape Street and St John’s Place
When complete, Enterprise City will span more than 2 million sq ft of development across 21 buildings which include offices, hospitality and retail, and residential units, as well as a number of city parks and open public spaces.
Enterprise City is one of several investments by Aviva Investors across central Manchester. In 2019, it committed £45 million towards Circle Square, a retail and leisure development in the heart of Manchester’s innovation district, whilst also owning 11 York Street, 11 Portland Street, 40 and 55 Spring Gardens.
Lucy Powell, MP for Manchester Central, said:
“The Old Granada Studios area is such an iconic part of the city for Mancunians. It is wonderful to see it thriving once more, 25 years after the old studies closed, with the completion of this transformational project by Aviva today. With this latest completion, Enterprise City continues to be one of the largest regeneration projects in Manchester. When fully complete it will completely transform this corner of the city - creating new office, hospitality, retail, and residential spaces as well as a number of city parks, as Manchester continues to be the number one city to live, work and visit.”
Julian Cobourne, Head of Regional Investment Management at Aviva Investors, said:
“Enterprise City is a transformational project which befits Manchester’s emergence as one of the leading media, tech and creative clusters in Europe, and we are incredibly pleased to play a role in its development. It is already home to world-leading businesses that are shaping new technologies across the digital, creative and media industries. This is a best-in-class example of Aviva Investors helping the UK get ready for the future, regenerating communities across the country and creating dynamic new places for people to live and work in, and which can also deliver investment outcomes for savers and investors.”
