Gary Neville and Ryan Giggs will rebuild a synagogue as part of a multi-million pound property deal agreed today.

The former Manchester United footballers, who own the Jackson’s Row Development Company, have finalised an agreement to turn Manchester Reform Synagogue into a community complex.

In exchange, land at the synagogue’s prime city centre site will be used by the company to build an apartment block, offices and shopping development.

The project will also encompass a disused police station and pub next to the synagogue.

Plans submitted to Manchester City Council show the new synagogue will be equipped with a community lounge, study rooms, administrative offices, a board room, snack bar and study hall.

Manchester Reform president Danny Savage has been in talks with Mr Neville, who is a coach for the England national team and a pundit for Sky Sports, for some months.

Mr Savage said the deal would allow the synagogue, also known as Jackson’s Row, to remain in the city centre.

“The trustees of the synagogue feel they have an obligation to ensure that the land remains the site of a central Manchester Synagogue for the many generations to come,” he said.

“We are delighted at the prospect of becoming part of such an exciting and important development in the heart of the city centre. Whilst there are still some hurdles to overcome before the plans bear fruit, we will do everything we can to achieve a successful outcome.

“There is no cost at all to the synagogue. The agreement is in place and it's now with town hall planning.”