Mulbury has secured £30m of funding from DTZ Investors for a private rented sector development in Ancoats, Manchester.
The development of 143 apartments, which gained planning consent in January 2017, will be built on the corner of Blossom Street and Great Ancoats Street.
The deal marks DTZ Investors’ first foray into the North West build-to-rent market.
Designed by Tim Groom Architects, the scheme is comprised of one, two and three-bedroom apartments in two buildings of eight and seven-storeys, plus three townhouses.
The plans also include communal resident amenity space, concierge services, and around 2,150 sq ft of commercial space.
Construction work is due to start this month and completion is scheduled for May 2019.
James Alderson, head of Mulbury City, the company’s city centre residential division, said: “This is our second forward-funded PRS deal in Manchester in the last 12 months and shows the continued demand for PRS living in the city and appetite from investors.”
10 April 2017
13 January 2017
10 October 2016