Mulbury signs funding deal with DTZ Investors for £30m Ancoats scheme

Developer Mulbury has secured funding from DTZ Investors for its £30m private rented sector (PRS) apartment scheme in Manchester.

The project will deliver 143 new homes in the Ancoats area of the city, on the corner of Blossom Street and Great Ancoats Street.

The units will comprise a mix of one-, two- and three-bedroom apartments across two separate buildings, in addition to three townhouses.

Mulbury will also create communal resident amenity areas and around 2,150 sq ft of commercial space.

Designed by Tim Groom Architects, the project was given the greenlight earlier this year.

James Alderson, the head of the developer’s city centre residential division Mulbury City, said: “This is our second forward-funded PRS deal in Manchester in the last 12-months and shows the continued demand for PRS living in the city and appetite from investors.

“We are incredibly proud to have secured the backing of DTZ who really bought into our vision for the site. We aim to be on site by the end of July.”

The deal with DTZ marks the firm’s first investment in the North West’s build-to-rent market.

Completion is due in May 2019.

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