Start of site work for The Lancastrian, in the New Cross area of Manchester city centre, comes as Balfour Beatty Investments and AIG Global Real Estate reach financial close on the investment deal.
The Lancastrian will have 274 apartments of varying size for private rent. They are spread across two buildings around a landscaped courtyard. Residents expected to move in from the summer of 2020
Balfour Beatty Investments acquired the site in January 2016 and subsequently secured full planning permission. Financial close of the deal involved the transfer of the land ownership to AIG.