Manchester to get new £78m arts venue

Manchester is set to get a new £78m theatre and arts venue, built on the site of the former Granada TV studios, which will act as a permanent home for the Manchester International Festival (MIF).

The space, which was announced by chancellor George Osbourne today in his Autumn Statement, should be open by 2019 and will be called The Factory, in homage to the city's famous record label.

Designed as a flexible space, it will have a seating capacity of 2,200, with the capability of transforming into an "immersive artistic environment" holding 5,000 standing.

A statement from Manchester City Council states that it will "produce other work in the innovative spirit of MIF from across the arts and popular culture – attracting the best national and international artists and companies", which will help support the cultural growth of the city.

Tom Bloxham, chair of MIF, said of the venue: "Like MIF, it will attract ground-breaking and pioneering works which might not otherwise come to the North of England, or even the UK, and the concept is in many ways born from MIF. This is great news for MIF and for Manchester."

More details will be announced in early 2015.