Spinningfields

Orientation & Geography

Europe, United Kingdom, England

Spinningfields is a large business, retail and residential development in Manchester, England that lies in the western portion of the City Centre, between south Deansgate and the River Irwell. The Spinningfields complex is the masterplan of Allied London Properties, a London-based property development and investment company. It takes its name from Spinningfield a narrow street which ran westwards from Deansgate; in 1968 Spinningfield and the site of the buildings immediately to the south were turned into Spinningfield Square, an open paved area with a statue called "Freedom of the Press" complementing the adjacent Manchester Evening News building. However, due to the financial crisis of 2007–2010, Allied London's ambitious plans were in jeopardy of leaving Spinningfields half completed. However Allied London reached an agreement with Manchester City Council in a rescue deal, which involved the council buying various plots of land on the sites in a freehold agreement, namely 1 and 2 Hardman Square and 2 and 3 Hardman Boulevard, from Allied London at an unknown price. The council never disclosed the amount they paid, yet Deborah Linton of the Manchester Evening News claimed before the deal was made that the sum of money would be in the region of £15 million for the plots of land.