Manchester Airports Group (MAG) has selected a consortium comprising Carillion, Beijing Construction Engineering Group (BCEG) and the Greater Manchester Pension Fund (GMPF) as its partner to deliver the Airport City development at Manchester Airport.

Argent (Property Development) Services will be appointed by the joint venture as development manager for the scheme.

Airport City is one of the largest regeneration schemes in the UK since the Olympics redevelopment in East London.

-- Advertisement --

It will provide 5m sq ft of development, including offices, hotels, advanced manufacturing, logistics and warehousing, with an estimated value of £800m.

Airport City will be the core element of the Government-designated Enterprise Zone at the heart of which is Manchester Airport, the UK's third busiest airport.

A key objective of the Enterprise Zone is to help attract international businesses and to create an additional 16,000 jobs for the North West of England.

The consortium will start work immediately and the project is scheduled for completion over the next 15 years. Carillion expects to invest up to £12 million of equity in the development, as well as delivering up to £580 million of construction work.

(CD/MH)