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Funding boost for £247m Manchester PRS scheme

Select Property Group has signed a joint venture deal on what is set to become Manchester’s largest fully-funded PRS scheme.

The Cheshire-based group announced it had agreed terms on a partnership deal with the Greater Manchester Property Venture Fund to deliver its £247m Affinity Living project within the Circle Square development.

The deal will fund the development of the project, with works due to get under way at the Oxford Road site in Manchester city centre in August.

Affinity Living will be split across two buildings and include 677 apartments alongside 16,415 sq ft of community space.

It will form part of the wider £750m Circle Square development, which is being delivered by a joint venture between Select Property Group and Bruntwood.

The 2.3m sq ft Circle Square masterplan is split into five phases to be delivered over a 10-year period. 

Construction News revealed last year that Wates had been picked to deliver the first phase of the development, which includes two self-service apartment buildings, with 604 luxury apartments and 22 penthouses with external terraces.

Affinity Living represents part of phase 1B.

City planners gave the green light to plans for phase 1C of the masterplan earlier this month: an 18-storey building that will provide 384 serviced apartments as well as retail units on the ground floor.

Open Doors 2017

Wates’ project at Circle Square is one of the sites being opened to the public for Open Doors 2017, which takes place over six days, from Monday 27 March to Saturday 1 April.

Book your place here.

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