The £79m proposal would see a predominantly vacant 1960s building at 20-36 High Street redeveloped to deliver 361 flats in a grand mansion block.

David Hodgson, Head of Strategic Development – North for CEG, said: “This is an exciting regeneration opportunity, delivering a design that is befitting of this gateway site and reflects High Street’s former vibrancy and importance in the city.

“By reopening the historic Stationer’s Court as a covered plaza, we can enhance pedestrian access between the High Street and Northern Quarter and provide a light-filled covered space to eat, drink and shop, enjoying views of the large feature tree planting we are proposing on Birchin Lane.”

The scheme will reopen the Stationer’s Court to become a public space connecting the High Street and the Northern Quarter.

CEG has appointed FCB Studios, the architects behind Circle Square, Manchester School of Art, Manchester Metropolitan Business School and Murray’s Mills in Ancoats.

Alex Whitbread, Partner at FCB Studios, said: “Our design will create a grand mansion block at the corner of High Street and Church Street where the Northern Quarter and the city centre retail quarter meet.

“The architecture refers to the City’s past, drawing on the adjacent Debenhams and historic office buildings such as Sunlight House to create a new building which is distinctly and proudly Mancunian.

“The use of light ivory-white glazed ceramic tiles will also create a building that is light in colour and reflective in character.”