From Urban Splash’s own site: New Islington you can see from their images from their master-plan, they had no intention of preserving Ancoats Dispensary.  

Looking towards the centre of this image, just to the right of the grey and blue building is the site of Ancoats Dispensary but it has been replaced by another building. 

And in this image, just to the right of centre, the Chip building can be identified.  And in front of the Chip Building, Ancoats Dispensary has been replaced.  These images are from an Urban Splash web-site dated 2011, which shows Tom Bloxham and Urban Splash were not being truthful, when they said they were looking at options for Ancoats Dispensary.  It is obvious to most people, that they had other plans for the site of Ancoats Dispensary.  And if you view the time-line for Ancoats Dispensary, the roof was damaged as far back as 2005 and no attempt made to repair it.  Nor did Manchester City Council exercise their powers to repair and compulsory purchase powers to remedy such deliberate neglect/