One Port Street aerial CGI Select Properties p Vita Group

SimpsonHaugh designed the 33-storey One Port Street apartment block for Select Property. Credit: via Select Property

Select bags £128m for 33-storey Manchester project

Maslow Capital is financing the construction of One Port Street, the developer’s 477-apartment scheme located just outside the Northern Quarter. 

Select Property has secured £128.5m of development finance for the Manchester scheme, which is due to complete in 2025. 

The deal comes despite volatility in the debt market caused by high interest rates that some experts have predicted could see development slow down. 

“Significant appetite from investors and funders alike is testament to the strength of the opportunity promised by One Port Street,” said Adam Price, chief executive of Select Property. 

Since sales of the units launched earlier this year, Select says it has sold £135m worth of properties. 

“The residence will deliver the very best of city centre living, with luxury amenities and a stunning contemporary design throughout the apartments and communal spaces. 

“With Maslow Capital at our side once again, One Port Street will bring forward a new neighbourhood that will connect the Northern Quarter with Ancoats – two of the UK’s most thriving places to live – and will deliver a lasting multi-million-pound boost to the city’s economy.” 

Select Property completed the acquisition of the Port Street site from Town Centre Securities for £12.95m last year having secured planning approval at the third time of asking.  

Select twice saw the application rejected by Manchester City Council.  

However, a reduction in height from 34 to 33 storeys saw the scheme given the green light by planners in July 2022.  

Designed by SimpsonHaugh Architects, the development also features an 11-storey block. The shorter element fronts Great Ancoats Street, while the tower portion faces Port Street. 

Renaker is the main contractor for the project, which can now continue apace thanks to Maslow’s nine-figure facility. 

The deal is the second between Maslow and Select. The companies previously struck a deal for the development of CitySuites II. 

Matt Pigram, senior partner at Maslow Capital, said: “One Port Street is an excellent addition to Select Property’s impressive portfolio that sets new benchmarks in residential living. 

“This ambitious project reflects Maslow Capital’s unwavering commitment to the UK’s housing sector and to supporting large-scale projects that are critical in addressing the nation’s housing shortage.” 

Your Comments

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Now just need to do a Gazza Neville and sneak in a few extra storeys.

By Tom

I feel like this tower could have been double the size it will be

By Giant Skyscraper Fan

I quite like the way this area is developing. It has a Brooklynesque look and is becoming a lived-in community. I like the eclectic architecture. This is a great scheme.

By Elephant

Looks good- it’s also seems to be surrounded by surface level car parks which could be redesigned into even taller skyscrapers

By Stuart wood

As someone from the US, it is quite cringe when you hear some cities comparing themselves to New York. It happens a lot, although I note in Manchester it’s usually in jest.
However I have to say, the Northern Quarter is genuinely one of the only places I’ve ever visited which reminds me of Brooklyn. Totally get when it’s a filming location.

By Anonymous

There are places that resemble the northern quarter in every industrial town in the UK

By Cal

The northern quarter has some of the grandest and most eclectic mix of architecture in the UK. I fell in love with it when I first visited. People moan about it being unkept but it’s still very special IMO and nowhere near the run-of-the-mill industrial UK, hence why it’s so successful despite losing some of its edge. The hipsters have moved on.
Looking forward to the day that mass pedestrianisation hits NQ as it will flourish even more.

By Anonymous

The design isn’t bad but the poorly designed 90s architecture opposite need to be demolished.

By John

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