Mulbury has won planning permission for its 134-home private rental development on the edge of Manchester’s Northern Quarter.
The eight to 14-storey development on the corner of Port Street and Great Ancoats Street will be Mulbury’s first in the private rented sector.
The company is in talks with several institutional investors interested in buying and letting the properties upon completion. The £30m development was designed by Manchester-based Tim Groom Architects.
Martin Bury, a director of Mulbury, said: “This development will make a significant contribution to the regeneration of this part of the city, as well as being a flagship scheme in Manchester’s private rented sector.”
This is the first development for the company’s recently launched Mulbury City division, which focuses on city centre and PRS schemes and seeks backing from institutional, private and overseas investors.
Mulbury has plans for further developments in Old Trafford, Castlefield and Salford.
The Northern Quarter project is due to start on site early in 2016 and be completed by summer 2017.
