Two Residential Development Schemes Approved For Manchester
Planners have approved two new residential developments close to Manchester city centre. The first is for 250 apartments in the Piccadilly basin area, while the second is for purpose built student accommodation close by on First Street.
Insider Media reports that the first scheme is a joint venture between Macro Living and developers Axis Real Estate. It will deliver 261 apartments with private gardens and terraces that will be available for rent.
Build to Rent (BTR) projects have become more widespread throughout the UK in recent years, as demand among tenants has increased. This is thought to have been caused by a competitive housing market and also because more people are choosing to rent as a deliberate lifestyle choice.
Axis Real Estate co-founder Nick Mullins said: “We have worked closely with city planners to ensure the scheme design stays true to the fundamentals of the Strategic Regeneration Framework for Piccadilly Basin and fully complements the Northern Quarter. It’s such a vibrant area of Manchester and we’re delighted to be able to move to the next stage of delivery.”
He added: “As Manchester’s population continues to grow there will be an increased demand from investors and occupiers for high quality, sustainable, low energy/energy efficient accommodation. Our development has been designed to support that demand but in a way that has the needs of the occupier at its heart.
“We anticipate that we will be on site in Q3 with the first homes being available to rent before the end of 2025.”
Vita Group is behind the second scheme for student accommodation on First Street. House of Social has also been granted permission to build student accommodation for second and third year students who have already formed housemate groups and are searching for communal living spaces.
Niall Alcock, director at Deloitte, said: “This is the latest phase in the comprehensive regeneration of First Street, which has accelerated over the past 12 months with new offices and co-living now under construction and planning permission for a next generation sustainable office granted last month.
“House of Social is an innovative concept that will deliver accommodation to Manchester’s increasing student population. The building design sensitively responds to the transition from the modern heart of First Street to the traditional mill buildings of MacIntosh Village.”
Manchester has one of the largest student populations in Europe, with around 90,000 students including 19,000 overseas students. The city has several institutions of higher and further education, including Manchester University, Manchester Metropolitan University, and Salford University.
The diverse cultural life as well as a world class sporting scene are the main draws for younger students. The city is also just a short journey away from the Lake District and the Peak District National Park for those who enjoy outdoor activities. In recent years, Manchester has seen a boom in new developments.
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