Knight Knox and X1 Developments have launched a 194-apartment scheme in Ancoats to the private investor market, after submitting a planning application for the project to Manchester City Council earlier this month.
X1 The Plaza would be built on Great Ancoats Street, next to X1 The Eastbank which is currently under construction by the same partnership.
If approved by the council at its planning committee meeting in December, construction will begin in January 2016.
X1 The Plaza will be made up of a mix of one, two and three-bedroom apartments in addition to seven three-bedroom townhouses. The scheme is due to be completed in autumn 2017.
DK Architects designed the scheme, while Forrest is the contractor.
Amenities for the 152,573 sq ft development include secure bicycle storage, an on-site gym and private parking. Externally, residents will have a private landscaped courtyard, winter gardens, private balconies and garden terraces.
Andy Phillips, commercial director at Knight Knox, said: “Manchester is now viewed as one of the country’s top buy-to-let hotspots and as we witness the city develop at such a rapid pace, it’s easy to see why. With unrivalled international transport links, thriving arts culture, legendary sporting heritage and booming economy, the city offers an extremely attractive prospect to potential investors.”
The development will be let and managed in its entirety by X1 Lettings.
Prices for apartments start at £110,000 for a one-bedroom flat.