Resi funder wanted for £40m Bury Interchange homes

Transport for Greater Manchester has put a call out for a company to finance, deliver, and operate a mid-density apartment scheme in the town centre – a project the organisation says is particularly suitable for SMEs.

While initially TfGM had been looking for an affordable rental product, the organisation has since opted to be “agnostic” regarding the tenure mix, according to the procurement notice.

The contract is with £40m, excluding VAT, and would be for between February 2027 and July 2031.

According to the procurement notice, the contract is “particularly suitable” for SMEs and voluntary, community, and social enterprises.

Regarding submissions, project delivery will be worth 65% of the score, with the commerciality of the deal worth 25% and social value worth 10%.

Deadline for enquiries is 7 September, with tender submissions due before noon on 18 September. The project reference ID is DN826159, with documents accessible on procontract.due-north.com.

A decision award is due to be made in December.

Part of the £80m Bury Interchange programme includes the installation of a pedestrian bridge. Credit: via TfGM

The apartments would be part of the second phase of TfGM’s broader, £80m programme to upgrade Bury Interchange and its surroundings, and to eventually turn the transport hub into a net-zero in operation facility.

The first phase of the scheme, which includes a pedestrian footbridge and access improvements, secured £25.1m from the City Region Sustainable Transport Settlement in June. Planning for this first phase came in July last year.

The proposed interchange site sits south of Pyramid Park, another residential opportunity – this time being led by Bury Council. The local authority launched its own hunt for a developer of the 7.4-acre site in May. According to those tender documents, Pyramid Park could hold more than 100 flats and 10 townhouses.