FEC Angel Meadow 02
FEC was named development partner on Angel Meadow, the 700-home first element of Northern Gateway, in 2015

FEC closes on £2bn Northern Gateway housing deal

Neil Tague

Hong Kong-listed Far East Consortium is understood to be closing in on selection as the preferred investment partner to deliver Manchester’s Northern Gateway housing programme.

The project encompasses the delivery of 10,000 homes across 300 acres in the Lower Irk Valley, New Cross, Collyhurst and the NOMA site and has long been seen as a problem for the city.

The development value of the project, which will take up to 15 years to deliver, is thought to be £2bn.

Manchester Place, the joint venture between Manchester City Council and the Homes & Communities Agency, has been working alongside the council on the procurement process, with GVA engaged to run the competition, which was launched in spring 2016.

It is believed that FEC will act as lead investor, bringing in different developers for different sites within the area in phases.

FEC has already made headway in the North of the city. In autumn 2015, it was selected as preferred development partner on a 754-home, £200m residential scheme in Angel Meadow, the Northern Gateway’s first element. A planning application is expected soon.

All parties declined or were unavailable to comment when contacted by Place North West.

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15 years seems a long time….

By Schwyz

Let’s hope it extends over to Cheetham Hill Road.

By Tony Heyes

Agree with Schwyz.What on earth will take fifteen years.In that time you could rebuild the whole of Rochdale road up to Middleton.

By Elephant

It’s being built in stages over 15 years. Think of the knock on effect of building 10,000 homes in one go

By David

This is impressive, FEC are excellent. Good to see so many of the top property companies and developers choosing Manchester as their first outside of London.

By Great Scot

Cheetham Hill road wouldn’t be as bad, if the shopkeepers didn’t leave festering rubbish all over it and the council swept it now and again. It is hard to believe you are in Western Europe driving down that road. The irony is there are quite a few beautiful buildings. Why is it such a tip? Do MCC never go North of the CIS building? Building fancy flats on it and near it is all well and good,but not if the surroundings look like something out of the Twighlight zone.

By Elephant