Construction News

10/04/2018

More Than 270 Apartments To Be Built In Manchester

More than 270 new apartments are to be built in Manchester.

The £65 million 'The Lancastrian' development will be built by Balfour Beatty after it agreed a funding deal with AIG Global Real Estate for the build-to-rent scheme. Construction is now underway and completion is scheduled for summer 2020.

Located in the New Cross area of the city centre, features will include 274 one, two and three bedroom rental apartments spread across two buildings positioned around a landscaped courtyard. Residents will benefit from a wide range of amenities including concierge facilities, residents' lounges, a gym, and two roof-top terraces.

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Having acquired the site in January 2016, Balfour Beatty Investments secured full planning consent afterwards. Reaching financial close involved transferring the land ownership in full to AIG.

David Swarbrick, Managing Director of UK Investments for Balfour Beatty Investments said: "We are delighted to be working with AIG Global Real Estate on the delivery of this exciting development. The Lancastrian will support the regeneration of the area, providing high class accommodation for residents."

(LM/MH)

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