Fred Done nears 1,000 apartments under construction
The billionaire bookmaker’s property companies are on site delivering around 1,000 apartments and houses in Greater Manchester with more expected to enter the planning pipeline in the coming months.
This is the third major city centre scheme in Manchester and Salford by Fred Done and his joint venture partners. In Salford, Trinity is on site with 380 units on the corner of Blackfriars Road and Trinity Road. Also in Salford, Crescent is underway delivering 399 units on the site of the former Black Horse pub, which has been demolished. The architect on both Salford schemes is 5plus.
In Astley Point, Wigan, Done is replacing a former nightclub with 14 houses and 14 flats, taking the tally in Greater Manchester to 990 units under construction. At a conservative estimate of £200,000 for an average sales price for each unit the total gross development value for his units under construction would be around £200m.
Agents said Done is eyeing further sites and is expected to bring plans forward for further residential development although no details have emerged.
Done has received public finance including a Greater Manchester Housing Fund loan of £22.5m from the Greater Manchester Combined Authority to pay for construction of Trinity.
The Northern Quarter site being prepared this week for Citu includes the Tib Street Horn sculpture, which according to a report accompanying the planning application, has been gifted to the city and will be put into storage until an alternative use is found.
Euan Kellie Property Solutions advises Fred Done and his related companies on planning.