Real estate company, Landsec, has now taken over full control of Salford’s Media City complex which includes studios and post business, dock10.
Media City, which had originally been owned in a 50/50 JV between Legal and General and Peel Group, saw Landsec buy up L&G’s share in 2021 along with half of Peel’s share.
Landsec has now acquired the final 25%.
Mike Hood from LandsecU+I, said: “MediaCity has huge potential. Through our increased ownership, we can curate a place that continues to attract cutting-edge businesses and investment to the area, and where people choose to come work, live and enjoy their lives. We look forward to sharing more about our plans in the near future.”
Steven Underwood, Chief Executive at The Peel Group said: “The Peel Group is incredibly proud of what has been achieved at MediaCity. What was once a derelict and disused site on the banks of the Manchester Ship Canal in just 13 years has become the beating heart of the Digital and Creative sectors in the region and beyond. This visionary development has created boundless economic opportunity, an unrivalled cultural destination and delivered thousands of new homes.
“This couldn’t have been achieved without the support of Salford City Council’s shared vision but also all of our other public and private sector partners. Making MediaCity what it is today has been one of the country’s finest examples of public-private sector partnership – the cornerstone of successful regeneration. LandSec is fully committed and passionate about delivering the next phase in MediaCity’s evolution and as such we couldn’t imagine a better owner for MediaCity’s next step on its journey. As the footprint of MediaCity expands we will continue to work with Landsec and our partners to deliver on the exciting future for MediaCity and the wider Quays.”
Jon Creamer
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