Funding deal for Manchester’s largest PRS scheme

Aaron Morby 3 months ago
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Select Property Group has formed a joint venture partnership with the Greater Manchester Property Venture Fund to build a 677-home PRS tower.

Circle Square phase 1a

It said its £247m Affinity Living PRS scheme at Circle Square will be the largest fully funded build to rent scheme in Manchester.

The project forms part of the first phase of the £750m Oxford Road mixed-use development that offers office, retail, serviced apartments and flats.

Builder Wates Construction is presently on site delivering a 600-bed student accommodation scheme, which is due to complete this September.

Work on the 677 rental flats project will now start in August. A contractor will be named shortly to deliver the 12-storey and 17-storey buildings at the former BBC site.



Mark Stott, chief executive of Select, said: “This landmark deal will cement the delivery of all residential components of the Circle Square scheme.”

Select plans to deliver more than 1,800 apartments in Manchester under the Affinity Living brand over the next three years.

The office element of the £750m Circle Square is also due to be on site before the end of 2017 with tendering already underway.

 

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