The land is located on Rochdale Road, next to the Marble Arch pub, for a new Build to Rent development.
Planning consent has been granted for the 237 unit scheme, with Manchester City Council approving the proposed plans for the site earlier this year. This development is located on Rochdale Road which is within the area covered by the Council’s Victoria North Strategic Regeneration Framework.
The McGoff Group purchased the site from Peter Read Investments Limited, and with the sale now legally complete, plan to start on site later this year, with McGoff Construction the principal contractor.
The development will be part of the Group's 'Downtown' brand and builds on the success of the now completed 374 unit Downtown scheme on Woden Street in Salford.
Designed by Jon Matthews Architects, the development will provide 237 units in total, incorporating a mix of apartments and duplex townhouses, some with balconies, garages and gardens, housed within three new buildings.
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There will be 77 one bedroom apartments, 149 two bedroom apartments and 11 three bedroom apartments, with a selection of the two and three bedroom units being duplex townhouses.
Taking into consideration the locality, which has a rich industrious heritage with the historic Rochdale Road Gas Works previously located close to the site, the design of the scheme is sympathetic to the surroundings comprising a simple palette of brick, pre-cast concrete detailing and full height metal windows. A different brick will be used for each building to give a unique identity to the façade, creating an attractive and iconic residential setting.
Basement parking will be provided with 35 car parking spaces as well as a cycle store, and the development will benefit from extensive landscaping, including a communal garden courtyard, pocket square and private gardens. It will also offer a reception with spacious seating area and business centre.
Director at McGoff Group, Chris McGoff, said: "The site on Rochdale Road is superb; it ideally suits a sophisticated Build to Rent scheme. We firmly believe this is the best approach for the site with Manchester continuing to see some of the best rental yields in the UK.
"Furthermore, the Group's proven ability to acquire, design, build, operate and maintain residential developments ensures the future success of this scheme. Having enjoyed unprecedented success at Downtown, and following the launch of Downtown Asset Management, we have established strong working relationships with both institutions and individual landlords, and are perfectly placed to embark upon a new Build to Rent scheme in the city."
