It plans to build ID Manchester, a science and technology hub, on a 26-acre site at its North Campus, near Piccadilly Railway Station in the city.
Since first floating plans at property show MIPIM, the University has upped its ambition and now plans to deliver up to 4m sq ft of mostly workspace and 1.2 hectares of public realm.
With the right investment and development partner, the University hopes to leverage the global reach of its commercial partnerships and research institutions.
Professor Dame Nancy Rothwell, Vice-Chancellor of The University, said: ”ID Manchester will create a new, world-class innovation district situated in the heart of Manchester and alongside the University, where we will nurture the next generation of game-changing businesses and bring huge economic benefits to our city region and beyond.”
The site benefits from existing green space and the 650,000 square feet grade II listed Sackville Street Building, which offers a major opportunity for re-purposing.
Prospective joint venture partners from all over the world are being invited to participate in a two-stage competitive dialogue process.
It is envisaged that the process will take around 12 months, with a partner announcement being made in autumn 2020.
The first developments at the site could begin in 2022.