Select Property Group has signed heads of terms on a joint venture partnership with the Greater Manchester Property Venture Fund to build a 677-home PRS tower.
It said its £247m Affinity Living PRS scheme at Circle Square will be the largest fully funded PRS scheme in Manchester.
Mark Stott, chief executive of Select Property Group, said: “Our unique, customer-led approach to the property market, alongside our proven operational model, is hugely appealing to investment funds and we’re looking forward to working with GMPVF and updating the industry over the coming months.”
The £750m Circle Square development is a joint venture partnership between Select Property Group and Bruntwood.
Construction is scheduled to start in August 2017.
