Blueoak acquired Alexander House earlier this year. Credit: via Savills

GMCA issues next round of housing loans 

Blueoak Estates’ conversion of Alexander House in Trafford and Step Places’ redevelopment of the former Bolton bus station are among the projects to receive a total of £18m from the Greater Manchester Combined Authority.

Meanwhile, Urban&Civic, through its Manchester New Square Partnership vehicle, has been granted an amendment to the terms of a £51m loan awarded in 2017 to allow the company to reborrow up to £26.7m. 

The original loan was granted to support the construction of a 351-home development on Princess Street in Manchester that completed last year. 

Urban&Civic was contacted for comment. 

Blueoak Estates has been awarded £11.3m from the GM Housing Investment Loans Fund for the development of 110 apartments at Alexander House in Old Trafford.  

Chester-based Blueoak acquired the 63,000 sq ft Talbot Road building, previously occupied by law firm Horwich Farrelly, from Cadence Real Estate earlier this year. 

AH2 Gee Cross will receive a loan of £3.4m from the fund to build 20 houses on a site in Hyde, while Step Places will get £3.3m for 44 houses on the site of the former Moor Lane bus station in Bolton town centre.  

Bolton Council granted planning permission in November 2021 for the Moor Lane scheme, which comprises more than 200 homes in total.  

The total value of loans from the GM Housing Investment Loans Fund approved by the Greater Manchester Combined Authority to date exceeds £600m.

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Urban civic sold their other Manchester developments, how did they manage to reborrow ?

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