The Factory Manchester: Osborne to fund ex-Corrie site

The Government has pledged £9m a year for its running costs

Plans to convert the former home of soap opera Coronation Street into a "flagship arts building" have received government backing.

The Chancellor George Osborne announced in his Spending Review that The Factory Manchester will receive £9m a year in 2018/19 and 2019/20.

Building work on the project, which incorporates art and culture from theatre to TV, starts in 2016.

Mr Osborne said the spending is part of the Northern Powerhouse scheme.

A spokeswoman for the Manchester project said it is hoped the support will continue after 2020.

Mr Osborne said: "We have backed The Factory with significant investment because we know it will provide an outstanding new arts venue to be enjoyed by people of all ages and backgrounds for generations to come."

The Factory, which received planning permission in July, forms a part of the new St John's neighbourhood on the 15-acre former Granada site.