Contractor Vinci will begin work on site next month on New Victoria, the £185m scheme being delivered by Muse Developments in partnership with Network Rail and Manchester City Council, following the agreement of funding and contractor deals.
An unnamed institutional investor will forward-fund the 450,000 sq ft residential phase of the scheme. Going off current Government guidelines on construction, it is expected that the project will take three years to be completed.
Adjacent to Manchester Victoria railway station, New Victoria’s residential phase will comprise 520 homes in two buildings, one of 20 storeys and one of 25. This will include 178 one-bed, 286 two-bed and 56 three-bed apartments.
In 2019, Manchester City Council received a Housing Infrastructure Grant from Homes England to accelerate delivery of infrastructure for the 2.5-acre site, which is bounded by Corporation Street and Cheetham Hill Road, with the building fronting Corporation Street set to feature retail space at ground floor, car parking and public realm improvements.
Muse is also acquiring a second site from Network Rail, where proposals will be brought forward for a 150,000 sq ft eight-storey office building. The full value of the residential and office projects combined is £250m, Muse estimates.
Sheppard Robson is the architect, with the professional team also including Deloitte; Walker Sime; Arup; Chroma Consulting; and Planit-IE.
David Burkinshaw, development director at Muse, said: “These latest two deals mark a significant achievement for all partners in bringing forward this innovative gateway development, which also highlights investor confidence in our long-term vision to transform an underutilised site in the heart of the city centre into a vibrant new community.”
Gary Bowker, regional director for the North West at Vinci Construction UK, said: “It’s been a great team effort throughout the pre-construction stage to finalise the design, agree the contract and secure the project start date.”
Consent for the scheme was initially secured in September 2016. Place North West first reported the talks between Muse and Vinci in May 2019.