The £85m deal with Deutsche Pfandbriefbank will allow work to start on Angel Gardens, a landmark 466-apartment block, located in the centre of the Co-operative Group’s 20-acre NOMA site.
Carillion is on board to deliver the 530,000 sq ft project, which consists of a 34-storey main tower and seven-storey associated building.
Enabling works on the central Manchester site are currently underway.
The tower will be clad in black oxidised copper whereas the low rise elements will be of precast concrete to the outward-facing elevations and a mixture of concrete and brass to the courtyard frontages.
Buro Happold is the structural engineer.
Angel Gardens will be the first PRS scheme delivered by Apache Capital’s joint venture with Moda Living.
The joint venture, created in May 2015, has to date secured a £1bn PRS development pipeline comprising 5,000 homes for rent, located in eight prime city centre sites across the UK’s major regional cities and the South East including London.
Johnny Caddick, Managing Director at Moda Living, said: “Having secured a significant pipeline across major UK cities, we are now focusing on delivering a project that will set new expectations for rental housing in Manchester and throughout the UK.”
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