A housing development in the heart of Altrincham has now been completed thanks to a development finance facility provided by property lender Together.
Consensus in a joint venture with The McGoff Group, has finished phase II of The Downs Quarter, Altrincham, a £17.5million development of 31 apartments and eight houses ranging from one to three bedrooms.
The major project started in July 2022 after McGoff and Consensus secured the multi-million pound funding from Cheadle-based property lender Together, which has a loan book of £7.7billion and provides finance to developers across the UK.
The impressive Downs Quarter development delivers three distinctive buildings – The Place, The Blok and The Downs – each with a unique style yet designed to blend and complement the historic charm of the prime town centre setting.
Phase I of the development completed last May and has already proved popular with young professionals and families – 21 properties have been sold and five more properties were/will be released for sale at an open day at the development site on March 28th.
Simone Milner, relationship manager at Together’s development finance team, said: “The Downs Quarter is a stunning residential development and we are proud to have played our part helping to make McGoff and Consensus’ vision a reality by providing the development funding for the scheme.
“It’s easy to see why these well-designed homes have already proved so popular; they are within walking distance of the heart of Altrincham, a prosperous town with amazing amenities, and have been completed to an incredibly high standard.
“The Government has been overt about their goals to build 1.5million new homes during this parliament. To deliver this there needs to be as much support as possible from the private sector, including from lenders in making finance available for established developers in order for them to provide the right kind of quality homes in the right areas to meet demand.
“As a lender, we have a fantastic relationship with both Consensus and the McGoff team having supported them both on previous projects across the North West. Their ambition matches our strong appetite to support the construction and delivery of homes to meet the UK’s housing needs.”
Altrincham-based Consensus initially started to assemble the land two decades ago, building and selling 15 apartments and six commercial units along the site frontage of The Downs.
Selling this part of the site to House Crowd in January 2019, the subsequent collapse of the House Crowd development in March 2021 saw Consensus buy back the site from the administrators late last year, with a £2.5million bridging loan provided by Together in under two weeks. The construction was then completed under the joint venture with McGoff.
McGoff Group Director, Chris McGoff, said: ““From land acquisition to welcoming new home owners, the successful completion of The Downs Quarter is a testament to the vision and dedication of all involved in the joint venture. To witness such strong sales pace alongside this high-quality build underscores the desirability of this Altrincham development and the strength of the local market. We are incredibly proud of this achievement.”
Prices for the apartments at The Downs Quarter start from £270,000. For further information or to request a brochure, contact Reside Manchester on 0161 837 2840 or visitwww.residemanchester.com.
