McGoff Group buy land in Manchester for Build to Rent development
The McGoff Group has acquired over one acre of land on Rochdale Road in Manchester, next to the Marble Arch pub, for a new Build to Rent development.
Planning consent has been granted for the 237 unit scheme, with Manchester City Council approving the proposed plans for the site earlier this year. This development is located on Rochdale Road which is within the area covered by the Council’s Victoria North Strategic Regeneration Framework.
The McGoff Group purchased the site from Peter Read Investments Limited, and with the sale now legally complete, plan to start on site later this year, with McGoff Construction the principal contractor.
The development will be part of the Group’s ‘Downtown’ brand and builds on the success of the now completed 374 unit Downtown scheme on Woden Street in Salford.
Designed by Jon Matthews Architects, the development will provide 237 units in total, incorporating a mix of apartments and duplex townhouses, some with balconies, garages and gardens, housed within three new buildings.
There will be 77 one bedroom apartments, 149 two bedroom apartments and 11 three bedroom apartments, with a selection of the two and three bedroom units being duplex townhouses.
Taking into consideration the locality, which has a rich industrious heritage with the historic Rochdale Road Gas Works previously located close to the site, the design of the scheme is sympathetic to the surroundings comprising a simple palette of brick, pre-cast concrete detailing and full height metal windows. A different brick will be used for each building to give a unique identity to the façade, creating an attractive and iconic residential setting.
Basement parking will be provided with 35 car parking spaces as well as a cycle store, and the development will benefit from extensive landscaping, including a communal garden courtyard, pocket square and private gardens. It will also offer a reception with spacious seating area and business centre.
Director at McGoff Group, Chris McGoff, says: “The site on Rochdale Road is superb; it ideally suits a sophisticated Build to Rent scheme. We firmly believe this is the best approach for the site with Manchester continuing to see some of the best rental yields in the UK.
“Furthermore, the Group’s proven ability to acquire, design, build, operate and maintain residential developments ensures the future success of this scheme. Having enjoyed unprecedented success at Downtown, and following the launch of Downtown Asset Management, we have established strong working relationships with both institutions and individual landlords, and are perfectly placed to embark upon a new Build to Rent scheme in the city.”
The McGoff Group worked with real estate, corporate and construction teams at Beyond Corporate on the purchase. Partner James Flynn, who led the transaction, says: “We are delighted to continue build on our expertise in the BTR sector and to be involved in another large Manchester city centre scheme. The site is in the perfect location for a residential development of this standard and sophistication, and it will be a welcome addition to the skyline of Manchester. The residential market in the city centre is going from strength to strength and we are very proud to continue to play our part in its next phase of growth and innovation.”
“Dave McGoff, Director at the McGoff Group, concludes: “The Group’s approach to controlling every aspect of delivery from planning management, site acquisition, design, construction procurement and asset management not only de-risks project delivery from a build point of view, but also adds protection via the inherent early stage and legacy control we have, making us a perfect counter party for funders and institutional investors.
“In addition, our skill sets across residential development, as well as care home and childcare operation, ensure we are the ideal joint venture partner across a broad range of sectors. Everyone needs a good builder, but the worth of the same is a rising commodity, particularly in a market which is evolving and that will benefit from a true end to end delivery model in what are volatile and rapidly changing economic times.”