GMI in the frame for £26m Excelsior Works

GMI has been lined up for Mulbury’s £26m Excelsior Works project in Castlefield, designed by Tim Groom Architects, after the scheme secured a £20m funding deal with Wellesley Group earlier this year.

The eight-storey building, alongside the Bridgewater Canal, will sit on the site of a former printing and book binding works, which was demolished following a partial collapse in July 2015.

Mulbury said that a final decision on a contractor has yet to be made, and GMI has been named in planning documents as an interested bidder.

There will be 108 apartments, split between one, two, and three bed properties, some of which will have balconies, as well as a communal roof garden and a basement car park.

Plans for the project were submitted in April last year, approved in July, and piling works have now commenced on site. The professional team also includes Deloitte as planner, while Savills has been appointed to market the apartments for sale.

Mulbury secured a £20.1m development finance deal with Wellesley Group in February to fund the scheme, which is due to complete in Autumn 2019.

It will be Mulbury’s third major residential development in the city centre, following its £27m Port Street scheme, which has been renamed The Astley, and a £30m project on the corner of Blossom Street and Great Ancoats Street. Both are being built by main contractor Bardsley.

GMI has secured a number of projects in Manchester since opening an office in the city last year. Schemes the company is working on include a nine-floor luxury hotel on Ducie Street for Dakota Hotels, which is due to complete in 2019.

It is also one of the bidders for plot five of FEC’s Angel Meadows, alongside Bardsley and Russells.