Acting on behalf of a private client, CBRE’s Northern Residential Investment Team has sold a Northern Gateway development plot at Dantzic Street to the Far East Consortium for £2.7m.
The 1.55 acre site, which lies within the strategic regeneration area to the North of Manchester, has potential to accommodate circa 400 residential apartments.
A key part of Manchester City Council’s Lower Irk Valley Neighbourhood Development Framework, the Dantzic Street site has been earmarked for high density residential development, largely due to its proximity to the city centre and its ability to deliver a sustainable residential-led neighbourhood.
The Lower Irk Valley, together with New Cross and Collyhurst, forms part of Manchester City Council’s wider Northern Gateway investment initiative covering around 300 acres and promoting regeneration to the north of Manchester City Centre.
Located on the corner of Dantzic Street and Dalton Street, the land is a short walk from 1 Angel Square and the wider Co-operative Group’s N.O.M.A development, a 20-acre mixed use scheme between Manchester Victoria, the Northern Quarter and the central retail area.
Mike Gorman, CBRE’s Head of Northern Residential Investment said: “We have been working with our client on this site for a number of years and are very pleased to have concluded a sale to FEC, the sale of this site will help kickstart this area and help drive further development and investment into Manchester.”
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