Renaker completes Transition acquisition
The developer has added to its holdings at Great Jackson Street in Manchester, agreeing a deal with DeTrafford to take control of a site with consent for almost 400 apartments.
Place North West reported earlier this year that the developers were in talks over the sale of the Transition site, and Renaker – which bought the debt on the plot from London Wall last year – is now working up revised proposals.
Manchester City Council granted DeTrafford planning approval for the SimpsonHaugh-designed Transition in 2019.
The scheme comprised 399 apartments across two towers of 32 and 26 storeys and a third 18-storey block.
DeTrafford has been working with Transition investors to have their deposits returned to them so that the sale to Renaker could go ahead.
That process has now completed, and investors have either been paid back or opted to have their deposits transferred to other DeTrafford schemes, it is understood.
“We are delighted to have completed on the acquisition of this site within the Great Jackson Street framework,” said Renaker managing director Daren Whitaker.
“We have worked extremely hard with DeTrafford over a 10-month period to insure that all purchasers of the previously planned scheme have secured the full return of their deposits.
“This acquisition, alongside our existing ownership, opens opportunities that would otherwise not be possible. We are working hard at developing proposals that, subject to planning approval, will further enhance the quality of this new city centre neighbourhood being created.”
Gary Jackson, managing director of DeTrafford, said: “We are pleased to say we have now completed the sale of Transition to Renaker. It has been great to work with Daren and his team and look forward to seeing another fantastic building in the Manchester skyline.
“We believe in working together to assist with growing the Northern Powerhouse.”
Transition is located in an area that Renaker has made its own in recent years.
The developer has already delivered the 1,500-home Deansgate Square on Great Jackson Street, as well as another 664 apartments at Elizabeth Tower and Victoria Residence nearby.
At present, Renaker is on site delivering Three60 and Blade – which provide another 855 homes – and is preparing to start work on a pair of 51-storey skyscrapers nearby, for which planning approval was granted in March.
Finally this can get going now
By Bob
Well thanks Renaker for TheBlade and the 360, you’ve proved you can change the profile when you want to. Now about those 3 buildings, how about just just one about 70 story’s with a pointy bit, like the one starting in Greengate. Oh I know it’s not as easy as that, would it maximise the space, could it cost in, possibly ground restrictions for the mass, but you guys are good you can get around all of this. You’ve given us so much skyscrapery goodness already now for the piece of resistance as the French say. Renaker Tower…yes I can see it now.
By St Paul
Is that the last of the Detrafford sites to be disposed.
By Anonymous
I ONLY hope that with a thousands of new flats (which probably home more than one person per dwelling) in the site, SOMEONE thinks of the public realm, a real one – not just glass walls of a “luxury hotel looking hallway” or blank brick walls. Real units for a grocery store, restaurants, real independent shops or offices *on street level*, and some other units for something that the current existing local community is lacking in the area. Maybe a day Centre? Or a nursery? Or are all these flats only designed for young-professionals, and once they age they move to the suburbs again?
By DP
The Allied London Boxpark probably fell through because there are already six or seven similar places in Manchester City Centre.
By ALL
All of that DP. They’ve already had a school approved so creating a neighbourhood is underway.
By Anonymous
Manchester better hope they use brick or another contrasting material to the other talls. Make or break time.
By Anonymous
this should never go ahead, what a dull looking project, this location screams for another 40 plus stories tower
By Michael
This is fine and inoffensive but Manchester needs the “Big One” now. The city is too successful to not have a statement skyscraper.
By Elephant
As this site is in the middle of the Great Jackson Street area I really hope a couple of skyscrapers are built in place of this scheme. One of 300m+ and one of 250m+ would really add to the skyline. Then, as well as getting the four planned skyscrapers built on plots F and G, get another four 200m-300m skyscrapers built on plots B and D and three built on the remainder of plot C and you’ve got yourself one amazing skyline with thousands of apartments for young professionals in the area. Perfect, that’s how you draw investment to the city!
By MC
Manchester can definitely manage a 300metre maybe 350metre tower taller than London with aparmtents and 7* Hotel like in Dubai
By ChorltonRed
We don’t need more towers, we need placemaking and neighbourhoods with street level interaction.
By PrestwichGreen
I want a tall building at this site but do also agree with @PrestwichGreen – hoping for some better ground floor interaction than we have seen at the towers in this area up to now. What is being done at Greengate seems to work, with towers on human-scale podiums. Something like that please.
Probably want to cover up the blank wall of the Deansgate Square amenity block as well.
By Anonymous
Dull as dishwater.
By Elephant
This area has such potential and only a finite amount of space. It needs to be preserved for a statement scraper e.g. 250m+
By Tom