Heyrod Courtyard Packaged Living Fieri Real Estate
Fiera and Packaged Living aim to build 350 homes at Heyrod Street

Piccadilly apartments site purchased for £6m

Chloé Vaughan

A joint venture between Fiera Real Estate and build-to-rent developer Packaged Living has bought a plot at Manchester’s Heyrod Street for £6m, to create 350 apartments.

A planning application for the 0.7-acre site, which falls within the Manchester Piccadilly Strategic Regeneration Framework, will be submitted later this year, the two parties said, with Packaged Living aiming to start the project in 2021.

Under the plans, Packaged Living aims to develop a mix of studio, one-, two-, and three-bedroom apartments, with retail and amenity space, a public square and car park.

Fiera Real Estate is a property investment management firm that creates and manages assets for investors. It directly manages more than £870m of assets across the UK.

The Heyrod Street purchase is among several acquisitions that make up the first round of Fiera’s Real Estate Opportunity Fund V, which launched in November and is the latest in the investment manager’s fund series with CBRE Global Investment Partners. The closed-ended fund targets £250m of real estate transactions in the UK over the next six years.

A spokesperson for Fiera said that Packaged Living co-invested in the Heyrod Street acquisition alongside Fiera, but they did not disclose the amounts committed by each party. Packaged Living will act as development manager for the project.

Ed Ellerington, joint managing director of Packaged Living, said: “Heyrod is one of a number of build-to-rent schemes that Packaged Living is delivering across the country and represents a fantastic opportunity to create next-generation homes.”

Chris Button, head of value and real estate investment management at Fiera Real Estate, added: “We are happy to be a part of the regeneration of Manchester Piccadilly and…are actively seeking similar sites in major urban locations.”

London-headquartered Packaged Living has a development pipeline of more than 1,000 homes across the UK.

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It rains in Manchester every single day

By Billy King

@Billy King. From The Guardian: “We asked the Met Office how many days it rained in Manchester.. They said: “We have taken a look at the statistics and defined a “rain day” as being a day on which one millimetre or more of rainfall is measured. For Manchester the long-term (30 year) average for this count is approximately 140 days per year”.

By No it doesnt

Car parks should be underground, not wasting valuable space or housed in a MSCP.

By Aaron

It rains all the time in that place because it’s one misserable grim hole.

By Anonymous

Manchester is grey and drizzly so buildings will age very quickly.

By Liver fella

So lovely to read such intelligent and relevant comments on this post….I sometimes wonder why I bother to read them!

By Steve

This news along with the Portugal Street East Public Realm approval and the Portugal Street East approval last Thursday is brilliant for the area north of Piccadilly. With Crusader nearing completion and Leonardo starting on site, this area feels super exciting.

By Matt Pickering