LW progresses £17m Manchester scheme
Backed by Liverpool footballer Naby Keïta, the developer has fleshed out proposals for M1 Piccadilly, a gold-painted residential block on Store Street that features 54 flats, including what it claims is Manchester’s first triplex apartment.
Place North West revealed in January that LW Group, headed up by Faizal Atcha, was working with 5plus Architects on plans for a 15-storey scheme close to Property Alliance Group’s Oxygen Tower in Manchester.
Atcha has now partnered with Jeremy Knight, former managing director of property investment firm Knight Knox International, and Guinean footballer Keita to deliver the scheme.
A special purpose vehicle named M1 Piccadilly was established in May with the trio listed as directors. According to Companies House, Keita has since resigned from the firm but he remains involved in the project, according to Atcha.
LW aims to “redevelop this neglected site on Store Street and bring it into productive use with an iconic purpose-built residential building”, according to a statement posted on the consultation website for the project.
The project has a GDV of £17m and a planning application is expected to be submitted in the coming weeks, according to LW.
Speaking to Place North West, Atcha said: “There have been a lot of developments going up in the city, which is really good news for Manchester.
“But as a developer I am more interested in looking at areas that have been disregarded somewhat and bringing them into productive use.”
He continued: “We have established a great team and are passionate about delivering a special site right in the centre of Manchester. On successful completion of this project we are looking to invest more into overlooked but once dynamic neighbourhoods in Manchester”
A previous planning consent on the site secured by Westward Estates Developments lapsed last year. Westward’s scheme was a 13-storey block with 34 apartments designed by BDP.
LW bought the site following expiry of Westward’s permission.
The developer’s project features a cinema room, gaming room, covered terraces, residents’ lounge areas, and private office space.
The building also features a mix of apartment types. There would be two studios,16 one-bedroom apartments and 32 with two bedrooms.
In addition, there would be one two-bedroom duplex and three triplex apartments on the upper floors, each with three bedrooms.
Zerum is the planning consultant for the project.
LW Group is a conglomerate of companies specialising in franchising, textiles, property development, asset management, and sports agency.