It is planned to build ID Manchester, a science and technology center, on a 26-acre site on its northern campus near Piccadilly train station In the city.
Since the first floating plans at the MIPIM real estate fair, the university has increased its ambitions and now plans to provide up to 4 square feet of mostly work space and 1.2 hectares of land public area.
With the right investment and development partner, the university hopes to leverage the global reach of its commercial partnerships and research facilities.
Professor Dame Nancy Rothwell, Vice Chancellor of the University, said: "ID Manchester will establish a new, first-class innovation district in the heart of Manchester and next to the University, where we will promote the next generation of pioneering companies, bringing tremendous economic benefits to our city and beyond , "
The site benefits from existing green spaces and the 600,000-square-foot, heritage-listed Sackville Street Building, which provides an important opportunity for conversion.
Potential joint venture partners from around the world are invited to participate in a two-stage competitive dialogue process.
It is envisaged that the process will take about 12 months. An announcement of the partners will take place in autumn 2020.
The first developments at the site could start in 2022.