£8.8m residential scheme launched in once-deprived area

AN £8.8m residential scheme including 42 homes has been launched in the once-deprivded inner city Hulme area of Manchester.

Buy-to-let developments specialist Knight Knox says the urban project Barrel Yard will be a mixture of apartments and townhouses forming part of a wider regeneration project for the area.

The homes will be on Moss Lane West, within walking distance of Manchester city centre.

The development will be led by Forshaw Land & Property Group and Colbre Projects will act as the contractor, while Primo Property Management will manage the scheme.

Adjacent to the Queen’s Brewery development, also delivered by Knight Knox and Forshaw Group, Barrel Yard will offer 42 units, including 25 one-and two-bedroom apartments and 17 three- and four-bedroom townhouses.

Amenities are set to include a large communal area and parking facilities for the 25 apartments. Additionally, townhouses will come complete with front and rear gardens and private parking spaces.

The design of the plots has been influenced by the neighbouring Queen’s Brewery building -the former Hyde’s Brewery – and will complement existing developments in the area.

Construction of Barrel Yard is due to begin in November 2016, with completion expected in Q3 of 2017.
 
Andy Phillips, commercial director at Knight Knox, said: “Manchester is a thriving buy-to-let hotspot in the UK and offers very attractive prospects to investors.

“Despite economic uncertainty, the sector is booming and if we look at the rate and volume of current development plans, it’s clear to see that the demand for new investment properties is still growing.

“Hulme is an up-and-coming district, just one mile from the city centre, and we’re delighted to be contributing to regeneration here, whilst enhancing our reputation in the area with a second residential scheme.”

Barrel Yard joins more than 70 buy-to-let developments on Knight Knox’s varied portfolio, which includes both new-build residences and refurbishment projects.

Lyndon Forshaw at Forshaw Land & Property Group said: “We’re delighted to be working with Knight Knox on this exciting development and bringing a new lease of life to the historic industrial site. The scheme will contribute to the area’s much anticipated regeneration and provide sustainable new homes within walking distance of Manchester’s city centre.

“We’re confident that Barrel Yard, along with The Queen’s Brewery, will become a key location for investment and we look forward to starting the project next month.”