Prosperity Capital Partners has unveiled plans for a £175m landmark Build to Rent (BTR) scheme in the centre of Manchester.
The award-winning company has a combined portfolio and pipeline of nearly £100 million worth of purpose-built student accommodation and their BTR scheme has been designed by award-winning practice Assael Architecture.
The 556-home mixed-use development in central Manchester, named Old Brewery Gardens, is part of a residential-led regeneration on the site of the former Boddingtons Brewery, opposite the Manchester Arena.
It will transform the existing site from a surface car park into a hive of activity with a mix of exciting, ground floor retail alongside a range of amenities for residents. Residents will benefit from great connections to the city centre and surrounding towns, thanks to a two-minute walk from Victoria Station.
The buildings will be clustered around a communal garden at the heart of the scheme. Other amenities will include a gym, residents’ lounges, rooftop terraces and a large, central communal garden, which will be used as an open-air cinema and an outdoor yoga studio.
The development will also include 40,000 square foot of retail and commercial space that will drive further investment and job creation into Manchester’s thriving economy, as well as creating a new retail district for the wider community. Out of the 556 homes, 181 will be for sale and the remaining 375 for rent.
Planters with trees, shrubs and natural stone surround the proposed access to Great Ducie Street, which will improve the current streetscape and add some greenery to the area. The bustling retail spaces, combined with the public realm, will provide an exciting shopping experience for both residents and the wider public. The development also aims to tie the existing community into the site, giving locals the opportunity to set up businesses within the new development.
Assael Architecture’s design has sought to create high-quality homes that allow communities to thrive. The design is mindful of Manchester’s existing character, using materials and colours that are consistent with the surrounding red brick buildings, helping tie the new in with the old.
Ed Fowkes, development director at Prosperity Capital Partners, said:
“We are delighted to be delivering a landmark scheme in central Manchester that will be accessibly priced with a range of exciting amenities, including allotments to encourage a new wave of green-fingered renters.
“Equally, Old Brewery Gardens will be part of Manchester’s world-leading cultural scene, supporting its growing inward investment by providing high-quality homes for families and professionals alike.”
Félicie Krikler, director at Assael Architecture, said:
“The Old Brewery Gardens scheme in Manchester will make a significant contribution to the area and city, both culturally and economically. The quality design blends the residential buildings into the wider landscape, with the red brick hinting towards Manchester’s mercantile roots. The development is one of our most ambitious in the regions and will deliver a great environment for residents and the wider public.
John Cooper, Partner at Deloitte, said:
“We are confident that the Old Brewery Gardens scheme will make a significant contribution to the flourishing build to rent market in Manchester. The range of apartment options and the flexible retail and commercial uses will make Old Brewery Gardens a prime example of what build to rent can provide the regional cities.”