Newton Heath development site for sale

Offers are being sought for a 47-acre site to the North East of Manchester with planning permission for 500 homes, which has been put on the market by KPMG, the administrators of Shaid Luqman’s Lexi Holdings.

The site on Ten Acres Lane in Newton Heath was formerly occupied by Jackson’s Brickworks and is part of the wider administration of Lexi Holdings, Luqman’s bridging loans firm which entered administration in 2006.

Eddisons has been appointed to sell the site by KPMG’s Brian Green and Richard Fleming, who are acting as joint administrators to holding company Ten Acre Limited.

Manchester City Council granted planning permission last year for the development of up to 500 houses over 36 acres, alongside 37,700 sq ft of employment uses and nine-acres of open space.

John Padgett, director and head of agency at Eddisons, said: “The resolution passed by Manchester’s planning committee to grant consent for a major housing development is a game changer for this brownfield land, bringing a vital urban site back to life.

“The development of 500 much-needed new homes will be of huge benefit to the local community, as well as being a superb opportunity for the right developer. This kind of development opportunity does not come along very often and, needless to say, we are already seeing substantial interest in Ten Acres Lane.”