Marco Living and Axis RE have agreed a forward funding deal with Singapore-based City Developments Limited (CDL) for the 261 unit 1NQ build to rent (BTR) scheme in Manchester’s Northern Quarter.
Planning permission for the scheme, which is located on Tariff Street, was secured in June 2023. United Living New Homes – a subsidiary of United Living Group – will be the main contractor for the project which will start on-site this month.
Nick Mullins from Axis RE said: “Manchester City Council’s clarity of its strategic approach and direction within this area of the city centre will now enable us to bring 1NQ to life in what continues to be a particularly challenging economic environment.
“We are excited to be working with CDL and ULG to deliver the project and this deal is testimony to what we can achieve as a company and is another step forward in the long-term regeneration of this part of the Northern Quarter. Both parties share our vision for the development and the delivery of high quality, sustainable and energy-efficient apartments.”
Caroline Lewis, MD of United Living New Homes, added: “We are delighted to have been awarded this contract to construct 261 build to rent homes. United Living strives to create sustainable housing solutions with a positive impact and this development will help address the housing shortage in Manchester. We look forward to working with Axis RE and CDL and delivering a project which supports the ongoing regeneration of the Northern Quarter.”
The project team includes Primas, JMW, Ashurst, CBRE, Leach Rhodes Walker, TPM, Fairhurst, Crookes Walker, Avison Young, Quantem, Asset Building Control and Jensen Hughes.
