PIC’s £130m Manchester resi tops out
Vinci Construction has reached a milestone on the 520-home New Victoria scheme, Pension Insurance Corporation’s first venture into build-to-rent.
Working alongside developer Muse, PIC invested £130m to fund the construction of the two-tower Manchester project in September 2020.
Almost two years on, the Sheppard Robson-designed development has now topped out.
“We’re incredibly proud to mark the topping out of our first build-to-rent development,” said Tracy Blackwell, chief executive at PIC.
“PIC has invested £600m so far in similar projects around the country, and we look forward to investing considerably more as our business continues to grow and we seek to back the pensions of our policyholders with long-term, secure cashflows.”
Vinci Construction is the main contractor. Credit: via Edelman Smithfield
David Burkinshaw, development director at Muse Developments, added: “Our work here is transforming an underutilised gateway site that needed regeneration, into a vibrant place that provides much-needed homes in the city centre, alongside some of the best amenities around.
“This can only be achieved in partnership with like-minded businesses, who share a common goal to deliver the best for the community.”
I’ve watched this go up from my daily commute to and from Victoria. A fine example of how construction projects should be run. The churn of the façade and consequential follow on trades has been phenomenal. A fine example of how to build ….efficiently.
By WindyMcWindface
Lovely view of Victoria station from these
By Dan
Wonder if they throw in a lifetime supply of earplugs too …
By MrP