Pinnacle Alliance has appointed Goodwin Construction to restart work on its long-delayed 344-apartment scheme on Manchester’s Dantzic Street.
Construction began on Angelgate in 2015 by former contractor PHD1, but the construction company then went bust and work stopped.
Pinnacle has blamed the delay on the loss of the contractor, and said that it has struggled to find a new construction company to take on the build at the original quote price as “PHD1 had significantly under-valued the build costs”.
The developer said it has now reached an agreement with “a reputable main contractor”, Goodwin Construction Group, who has said it is willing to take on the build, at no extra cost to buyers. It maintains it has received no profits from the project so far and all money has been reinvested into the scheme.
Goodwin is already working for Pinnacle on the office-to-residential conversion of Grove House in Old Trafford.
A spokesperson from Goodwin said: “We are looking forward to recommencing the Angelgate build. The development has huge promise in the thriving city of Manchester. We’re ready to commence work as soon as the pre-construction services agreement and surveys have been conducted and we have buyer approval.”
In March it emerged that more than 70 investors in the scheme, largely from the Far East, had filed complaints with Greater Manchester Police due to the extensive delay in the project. A statement from the Greater Manchester Police last week said it was looking into whether any fraudulent activity had taken place. There was no update from the police when contacted by Place North West this morning.