Market Leads & Opportunities
Octopus Real Estate complete £10m loan on prime 327-unit site
Octopus Real Estate has completed a £10m loan secured on a development site in central Manchester with planning consent for a 327-unit apartment block.The lender provided both the asset loan and a VAT loan for the acquisition. The former mill in Deansgate, is the last prime central Manchester development site with full residential planning permission. At 35 storeys it will be one of the city’s tallest buildings and will provide commanding views over the city centre and across Lancashire. The developers, Empire Property Concepts, intend for development to start in the second quarter of 2022. It will include commercial space at ground and first floor levels, a resident’s gym, rooftop bar and terrace, communal lounge facilities and a café.
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