Fiera Real Estate and Packaged Living have announced that plans have been approved for a new Build to Rent development. The scheme will include 352 Build to Rent homes and a new public square in Piccadilly East, Manchester.
The new scheme – called The Castings – will include a mix of one, two- and three-bedroom apartments. Amenities include three roof top gardens, a residents’ lounge and entertaining suites – all opening onto the new square and public realm.
The development has been designed by a leading Build to Rent consultant team including Arcadis, Crookes Walker and Curtins. The architects – CallisonRTKL – drove the project’s strong resident experience and brought to bear learnings from their vast, multi-sector portfolio on The Castings.
The one-acre site on Heyrod Street was purchased in January 2020 through the Fiera Real Estate Opportunity Fund V UK (“FREOF V UK”) – the latest fund in Fiera Real Estate’s programmatic venture series with CBRE Global Investment Partners (“CBRE GIP”). FREOF V UK is targeting £250m of value add and opportunistic real estate transactions in the UK.
The site is easily accessible and is a 5-minute walk from Piccadilly station, which sees over 27m people move through it on average each year and is set to be the front door to the new HS2 station.
“The Castings is the next exciting Build to Rent scheme in Packaged Living’s pipeline, which is now delivering over approximately 3,000 homes in the multi-family sector across the UK. The scheme represents a fantastic opportunity to create next generation homes developed by an experienced team, at a time where vital investment is needed into our city centres”.Mark Woodrow, Joint Managing Director, Packaged Living
Environmental and social values are at the heart of Packaged Living’s design. The Castings development will also use sustainable materials to reduce embodied carbon and focus on residents’ wellbeing through social amenity spaces, a gym and bike repair.
The scheme has been designed to meet the need for new homes within Manchester City Centre – and will contribute to enhancing the quality of life for the growing population. It will also support new jobs and provide vital investment at an important time.
The Castings development is the next exciting part of the now established Piccadilly East area, which includes the highly successful Crusader Works by Capital & Centric, and the award winning Jenga-style Leonardo Hotel.