Plans have been revealed today to develop a 24-storey, 355 unit Build to Rent Project on Arundel Street in central Manchester.
The £110 million development, located in the Castlefield basin, opposite the Deansgate Square Towers, is expected to contribute to the regeneration of the area and bring significant social value and sustainability benefits to local communities.
This is a key milestone towards the delivery of this BTR scheme, after Logik obtained planning consent for the development in 2019. The Joint Venture is now working to secure a forward funding partner to develop out the scheme.
Neil Spencer, Managing Director at Logik Developments, said: “We are excited to have created the JV with SRMCV. Our two business are aligned in values and ambitions, and we look forward to seeing this project move to the next stage. The development of this BTR scheme will add to the strategic importance of the Castlefield Basin in the city. The high quality of the design will complement the area and bring many benefits to the local community”.
Robert Wotherspoon, CEO of Sir Robert McAlpine Capital Ventures (SRMCV), said:
“Today marks the beginning of another significant project for SRMCV. This fantastic project in the heart of Castlefield reinforces our strong track record of successfully delivering BTR schemes across England. We greatly look forward to the start of our partnership with Logik Developments. We share Logik’s ambitions for achieving a quality residential neighbourhood with high sustainability targets with a focus on creating social value that benefits the local community. We look forward to bringing the vision to life.”
