The firm says the move shows its commitment to production in the north west.
It thrashed out the deal with John Whittaker’s Peel Group, the firm locked in a power struggle over the Trafford Centre in Manchester.
ITV chief executive Adam Crozier said: “It’s terrific news for ITV and all of our people based in Manchester that we have agreed this deal with Peel Media.
“For our transformation plan which is focused on growing our national and international production and broadcasting business, it is vital that we have a modern, fit-for-purpose, creative hub outside of London.”
ITV’s investment will include a bespoke production and studio centre for Coronation Street.
Meanwhile, the BBC yesterday finally took control of its new Broadcasting House development.
The £1bn development will house BBC News, World Service, radio news, television news and online news in the same building for the first time.
The building by Regent Street.