The university has submitted a Prior Information Notice to the Official Journal of the European Union to start the search for a partner for the ID Manchester project.

The 26 acre ID Manchester site could contain 3.5m sq ft of mixed use space in the heart of the city next to Piccadilly Railway Station.

Professor Dame Nancy Rothwell, President and Vice-Chancellor of The University of Manchester, said: “We are looking for the very best joint-venture partner to work with us to develop this prime site in the heart of the city which will generate thousands of new jobs and will enhance the reputation of the University and the city as the place where the world’s most valuable ideas are transformed into reality.”

The University currently occupies the recently opened £60m Masdar Building, home to the Graphene Engineering Innovation Centre, and the Manchester Institute of Biotechnology at the south end of the site.

Sir Richard Leese, Leader of Manchester City Council, said: “The potential of ID Manchester is huge.

“There are tremendous opportunities to regenerate this distinctive part of the city and we welcome the University’s growth, investment and job-creation ambitions for the development.”

Announcements and details of special events to find out more about the opportunity at ID Manchester will be posted here .