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NORTHWEST PROPERTY NEWS

Friday September 23 2016

Green Light For £185 Million Regeneration Scheme




Green Light For £185 Million Regeneration Scheme

Planning permission has been granted for New Victoria, a multi-million-pound project which will revitalise a key part of Manchester city centre, adjacent to Victoria Station.

National developer and urban regeneration specialist, Muse Developments, in partnership with Network Rail, has today been given the go ahead by Manchester City Council’s planning committee to create a £185 million mixed-use development on the 2.5-acre site on Corporation Street.

The ambitious project will see the creation of three new buildings: a 150,000 sq ft, Grade A, eight-storey office development, as well as two residential buildings (20 and 25 storeys).

A total of 520 new homes are planned including 178 one-bed, 286 two-bed and 56 three-bed apartments on the site, which is currently owned by scheme partner Network Rail.

The first phase of residential development will provide amenity space including a gym, 24-hour concierge, communal residents’ lounge, cycle storage and a roof garden. The office and residential buildings fronting Corporation Street will feature retail space on the ground floor. Car parking will also be provided, as well as improvements to the public realm.

The New Victoria development benefits from being in an outstanding location close to the city’s prime retail / leisure amenities and adjacent to Manchester Victoria Station, the city’s second largest public transportation hub.

Muse will now progress the design and contractor procurement process, with construction expected to begin on site in Q4 2017.

David Burkinshaw, development director at Muse, said: “New Victoria offers an unparalleled location and an outstanding development opportunity. Securing planning consent is a key milestone for the project. Working closely with Network Rail, Muse can now advance the detailed design of the first phase of residential.”

David Biggs, managing director of network rail property, said: We are pleased to be partnering with Muse on this exciting new development. The project will help us deliver our targets to release former operational railway land for homes. Being given the go ahead shows clearly that Network Rail’s £44 million investment at Manchester Victoria station has provided a major catalyst for wider regeneration in the city, delivering much-needed homes and development opportunities.”

 Muse is working with award-winning architect Sheppard Robson and Arup on detailed design proposals for the scheme. Deloitte provided support with the preparation of the planning application.



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