McGoff Group receive £13m from HGP for Downtown Victoria North

Housing Growth Partnership (HGP) has invested £13m in a joint venture with McGoff Group to deliver the Downtown Victoria North scheme.

Downtown Victoria North development by the McGoff Group and HGP | BTR News
Downtown Victoria North development by the McGoff Group and HGP.

The Lloyds-backed equity investor Housing Growth Partnership has committed the investment to a JV with McGoff Group to deliver the new Downtown Victoria North Build to Rent scheme in Manchester.

McGoff Group will be responsible for the entire delivery of the 237-unit Downtown Victoria North scheme with McGoff Construction acting as main contractor and McGoff’s sister company, Downtown Asset Management, operating the completed development.

“We’re thrilled to have established a joint venture with Housing Growth Partnership, working with them to deliver Downtown Victoria North. The development is located within a superb part of Manchester city centre. Furthermore, the design and mix of properties within the scheme are excellent. We are confident this Build to Rent scheme will prove popular with the discerning Manchester rental market.”

Chris McGoff, Director, McGoff Group

Downtown Victoria North will deliver one, two and three-bedroom apartments and townhouses and is situated within a ten-minute walk from the centre of Manchester.

The completed Build to Rent development will feature extensive landscaping, including a communal garden courtyard with seating areas, pocket square and private gardens.

It will also offer a reception with spacious seating area and business centre, a 24/7 concierge service, a residents’ lounge, fully equipped gym, underground car parking and bicycle storage.  

“Our investment with McGoff highlights the role that equity funding plays in getting housing projects off the ground across the UK during a high interest rate environment. Downtown Victoria North promises to be an excellent scheme that will provide tenants with a high-quality place to live within walking distance from the city centre. McGoff have a great track record in the delivery and operation of schemes of this nature across the North-West and we look forward to partnering with them on this and other developments.”

John McKeon, Investment Director, HGP

With the site replacing a former gasworks on Rochdale Road, the development represents a key element of the wider Victoria North regeneration programme.

The development is McGoff’s second Manchester city centre-based scheme, following the completion of its 374-unit ‘Downtown’ development on the banks of the river Irwell in Salford in 2020.

Construction has started on Downtown Victoria North and is scheduled to complete in late 2025.