Property company Landsec has acquired full control of Salford’s MediaCity complex.
Located alongside the Manchester Ship Canal, MediaCity is the base for both BBC North and ITV Studios, as well as home to dock10 studios and more than 250 creative industry businesses.
Originally developed in a venture between the Peel Group and Legal & General, the first phase was completed in 2011. Landsec (Land Securities Group) acquired a 75 per cent stake of the site in 2021, in a deal valued around £425 million.
Landsec has now completed the acquisition of the remaining 25 per cent interest in MediaCity from Peel Group, plus the television facility dock10 and a 218-bed hotel at the estate which were wholly owned by Peel.
Commenting on the acquisition, Mike Hood, CEO at 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.”
