November start targeted at Barrel Yard
Forshaw Land & Property and Knight Knox are aiming to start on site this month with an £8.8m buy-to-let scheme in Hulme, as part of the redevelopment of the former Hydes Brewery on Moss Lane East.
Barrel Yard will be made up of 42 units, including 25 one- and two-bedroom apartments and 17 three- and four-bedroom townhouses.
The project is next to the grade two-listed former Hyde’s Brewery building, now called Queen’s Brewery, which has been converted into 64 apartments by Forshaw Land.
Colbre Projects is the contractor, while Primo Property Management will manage the scheme on completion.
Construction of Barrel Yard is due to complete by autumn 2017.
Andy Phillips, commercial director at Knight Knox, said: “Manchester is a thriving buy-to-let hotspot in the UK and offers very attractive prospects to investors. Despite economic uncertainty, the sector is booming and if we look at the rate and volume of current development plans, it’s clear to see that the demand for new investment properties is still growing.”