The owner of the former cotton mill on Bradford Road in Manchester wants to redevelop the 19th century building into 150 apartments and construct two new-build blocks comprsing an additional 110 homes.
Located on the Ashton Canal, opposite Pollard Street East container park, the site is split into two parts; the existing mill building and a vacant plot of land where the new-build blocks would be constructed.
As well as the apartments, the grade two-listed Ancoats mill would feature around 20,000 sq ft of commercial space under the proposals.
The new-build blocks would include townhouses and commercial space on the corner of Beswick Street and Bradford Road.
Maryland Securities is also proposing the creation of an access road through the development to the canal.
A consultation on the project, designed by architect Hodder + Partners, launched today and a planning application is due to be submitted early next year.
Deloitte Real Estate is the planning consultant for the project.
Part of the mill is occupied by a number of companies on short term tenancies, including Brunswick Mill Rehearsal Studios. However, income generated is “not sufficient to secure the long-term, sustainable future for the entire site”, according to the developer.
The mill was built in 1840 as part of East Manchester’s industrial boom, but ceased operations in 1967.
Earlier this year, Maryland Securities sold Weir Mill in Stockport to Manchester-based developer Capital & Centric, which is progressing proposals for a £60m redevelopment of the site into 254 apartments.