Prospect Capital are pleased to have assisted with the acquisition of a residential development site benefiting from planning approval for 277 new homes.
This outstanding site is within proximity of three of Manchester’s most vibrant and popular residential areas with a broad range of commercial, leisure and retail facilities positioned at New Islington, Ancoats and the Northern Quarter, areas which have been rated as one of the “Top 10 Best Places to Live” in the UK by the Sunday Times
Denny Lane, Prospect Capital's Co-Founder and Director of Sales and New Business states: “It was a pleasure working with this client, a vastly experienced developer who has completed numerous similar high-profile developments around the world. This is a great example of our ability to deal with challenging acquisitions, and I am looking forward to meeting them again later this month to discuss the next opportunity”
The GDV for this site is £64m and construction will start in the last quarter of 2022.