A 50:50 joint venture between the developers has acquired a 14,000 sq ft plot in Manchester’s Northern Quarter, with Hawkins\Brown drawing up designs.
The land was purchased from Swan Street Developments for an undisclosed sum.
The site, off Swan Street, is opposite Mackie Mayor food hall and houses two derelict buildings, a former MOT garage and a storage facility.
Both buildings are to be demolished as part of the proposed development by Capital & Centric and Kamani Property Group.
In an Instagram post this month, Kamani Property’s chief executive Adam Kamani revealed that the scheme would be “either a 115-apartment block or a 200-bed hotel”, but it is understood that a variety of uses are being explored. The architect is in the process of drawing up designs.
A planning application is expected to be submitted later this year.
Kamani said: “Capital & Centric’s great reputation and track record in the city, together with our joint vision for the site, made our decision to join forces that much easier.
“It’s also great to team up with a developer with the same strategic vision and ideas for improving Manchester’s skyline. Watch this space, as this is going to be a fantastic development in the heart of our home turf in the Northern Quarter.” Kamani Property is based on Tariff Street, but has acquired a 13,000 sq ft former warehouse in Knott Mill, to which it plans to relocate its headquarters this year.
Tim Heatley, co-founder of Capital & Centric, said: “You’d be hard-pushed to find a better site in the Northern Quarter. It’s right next to Mackie Mayor and Band on the Wall so always buzzing with people. Whatever we end up doing, it will definitely have bags of that unique character and charm.”
“It’s been ace to partner with the Kamani Property Group. They get what we’re about and, like us, think development should be high quality, design led and anything but ordinary.
“As you would expect from our Jenga-inspired Adair Street and Ducie Street hotels and our owner-occupier focused Phoenix development, we will do something ambitious and exciting to keep raising the bar.”
Capital & Centric’s ongoing projects include the Phoenix and Crusader apartment complexes, which are being sold exclusively to owner occupiers, as well as Kampus, the £250m collaboration with Henry Boot Developments (HBD). The developer is also thought to be in talks to buy Weir Mill in Stockport.
Kamani Property, one of the diversified business holdings of Manchester-based Mahmud Kamani, the co-founder of online fashion retailers Boohoo and Pretty Little Thing, has another project under construction close to the acquired site – the seven-storey Tribeca House office complex.
Its portfolio also includes offices on Dale Street, also in the Northern Quarter, which are home to tenants such as Boohoo.com, LadBible, Timberland, PrettyLittleThing and the Knott Mill warehouse on Hewitt Street.