CQ Investments, part of Renaker Build, has outlined its plans to develop four residential towers of between 38 and 64 storeys to the South of Manchester city centre, providing more than 1,400 flats.
According to plans put on show at a consultation event yesterday afternoon, the four towers on the site of the Owen Street car park in Castlefield are expected to reach at least 37, 44, 50, and 62 storeys each.
The apartments will be supported by a three-storey amenity building, which will include facilities for residents such as an indoor tennis court, swimming pool and spa, gymnasium, studios, cinema screen, rooftop café bar with terrace and private garden, entertaining and home office and business facilities.
There will also be 95,000 sq ft of public realm around the River Medlock, with the largest space equaling the size of Exchange Square in Manchester city centre. There will be three levels of basement parking with around 700 spaces.
The scheme was designed by SimpsonHaugh & Partners, and echoes a project that the studio designed for West Properties for the same site which was approved in 2008.
Renaker bought the site from Morgan Stanley last year, after it was put on the market in a sell-off of former West assets in Manchester city centre. Two other sites, Origin in Princess Street and Renaissance Hotel in Deansgate, were bought by Urban & Civic.
Morgan Stanley acquired a £216m portfolio of loans against West assets in 2011 from the National Asset Management Agency. NAMA took over the debt during the Irish banking crisis.
The scheme adheres to the principles of Manchester City Council’s adopted development framework for the Great Jackson Street area which was approved in 2007, with the Owen Street plot earmarked as appropriate for high-rise buildings.
A planning application is due to be submitted in February. If planning permission is granted, CQ Investments said that it intends to start construction in the third quarter of 2016 with a build period for the entire scheme anticipated to span four-and-a-half years, with the entire scheme operational in 2020.
A spokesperson for CQ Investments said: “Our proposals provide a fantastic opportunity to develop a series of landmark buildings set within a high quality public space creating a new community and attractive destination in the city centre.
“The arrangement, range and specification of accommodation planned combined with the amenity and service provision will deliver highly desirable and important new homes to Manchester.”
The planning application by CQ Investments is being co-ordinated by Deloitte Real Estate.