GMI teams up for Piccadilly Basin development
Developer Town Centre Securities and contractor GMI Construction have formed a joint venture residential development company which is about to start building a block of flats in Manchester.
Belgravia Living Group’s first project is a 90,000 sq ft building housing 91 apartments in Manchester’s Piccadilly Basin.
Belgravia Living Group is headed by operations director Robert Rushworth, who used to work for Shepherd Construction as a planner. The JV has ambitions to deliver 900 apartments at Piccadilly Basin over the next six years.
A £9.7m loan has been approved by the Greater Manchester Combined Authority from the Greater Manchester Housing Fund to support the first phase of development on Tariff Street within Town Centre Securities’ Piccadilly Basin development.
Detailed planning consent has been granted for the first phase, designed by architect Simpson Haugh. To be called Burlington House, this will have 91 apartments. Preparatory site work will start in April 2016, with an 18 month development programme set to start in June this year.
The Piccadilly Basin site has been transformed by Town Centre Securities since an original masterplan was approved in 1998, with the Urban Exchange Retail Village and a multi-storey car park, 150 apartments at Vantage Quay and Jackson’s Warehouse with the listed Carver’s Warehouse restored and extended to house local start-ups.
Edward Ziff, chairman and chief executive of Town Centre Securities, said; “We have been committed to the regeneration of Piccadilly Basin for many years and the Piccadilly North neighbourhood will become even more strategically important with the delivery of HS2. The funding from the GMPVF has facilitated commencement of the first phase of 91 apartments and we are looking forward to working in partnership to deliver this important scheme.”
GMI managing director Jarrod Best said: “We are delighted to have joined forces with TCS to deliver what will be a high quality residential scheme to suit discerning owners and occupiers within the key Manchester M1 postcode.”
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This article was published on 15 Mar 2016 (last updated on 15 Mar 2016).