Since Coronation Street moved to its new site at Media City, the old site continue to run the Coronation Street tours for fans. However, we have already blogged the news that the site will be closed and demolished next year.
It's been announced today that the site will be developed into a new £78 million theatre and arts venue. The BBC report that the venue is to be called The Factory, in homage to the city's legendary Factory Records label.
It will hold up to 5,000 people and provide a permanent home for the Manchester International Festival. The venue is due to open by 2019.
A council statement predicted that the building would "play an integral part in helping Manchester and the north of England provide a genuine cultural counterbalance to London".
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