Market Leads & Opportunities
PIC to invest £130m in Manchester site
Pension Insurance Corporation (PIC) has acquired a Manchester city centre site and earmarked it as the location for its first build-to-rent (BTR) project, in which it will invest £130m.Proposed are 520 apartments, more than 6,000 sq ft of commercial space and 102 car parking spots.The project, which has full planning consent, has been designed to help regenerate a key part of the city centre.It is expected to create 40 jobs and employ 650 people during the construction phase, with completion due in 2024.Muse Developments has been appointed as developer, with VINCI Construction UK attached as contractor.PIC was advised by Colliers International, HAALO, WSP, Addleshaw Goddard LLP, Paul Nash, MSc PPCIOB, and Bishopsfield Capital Partners.
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