Building work could begin at the former home of Coronation Street in the next 18 months. The building was also home to Factory records co-founder Tony Wilson's music and culture show, So It Goes.

In last year's August Statement, Chancellor George Osborne had pledged £78m as part of the "Northern Powerhouse project".

The 5000 capacity venue is set to open in 2019 and is designed as a major global venue to rival cultural darlings such as London, New York and Berlin.

[via BBC]