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PIC acquired a prime city-centre site in Manchester as the location for its first Build-to-Rent project, investing £130 million to fund the construction of 520 residential apartments, over 6,000 square feet of commercial space and 102 car parking spaces. Muse Developments, a part of the Morgan Sindall Group, is the developer.
The construction project, which has full planning consent, will deliver high-quality homes and help regenerate a key part of the city centre. It is expected to create 40 new jobs and employ 650 people during the construction phase, with completion due in 2024.
"Reaching completion on the forward funding deal with PIC is a significant milestone for all partners, as we bring forward the first phase of this innovative gateway development."
David Burkinshaw
Development Director at Muse Developments
