High Street Residential (HSR) has taken a stake in Logik’s £100m private rented sector development in Arundel Street. It will assist with the funding, planning, design and development of the project.
The site was formerly home to Dot motorcycles and was acquired by Logik in 2017. The 355-unit scheme will be the developer’s first major project in Manchester.
The development will comprise three main blocks of up to 23 storeys with a mixture of one, two and three-bedroomed apartments for private rent. There will also be some commercial, retail and leisure space.
A planning application was approved by the Manchester City Council last year. The JV partnership is in final talks with contractors, aiming to get site preparation work and demolition under way soon. Construction is anticipated to be fully underway in the second quarter of 2020, they said.
Neil Spencer, managing director of Logik Developments, said: “We are really pleased to be entering into this JV partnership. High Street Residential is an expert in private rented sector (PRS) development and we are looking forward to bringing the delivery of this major scheme forward as a team.
“We have been in talks for some time and are hopefully looking to extend this relationship across further development opportunities. Arundel Street is a key site for Logik, with the capacity to create outstanding homes in a prominent city centre location.”