Building consultants advise on £482m worth of schemes
Manchester-based building consultancy Paragon has been instructed on eight residential development projects with a combined value of £482m in the North West over the past 12 months.
The consultancy is providing project monitoring services on the developments and will be involved in the construction of 2,061 new apartments in Manchester, Salford and Liverpool.
Legal & General Investment Management has appointed Paragon to advise on the largest of the eight projects, the 44-storey West Tower located in Manchester’s Deansgate Square.
The build-to-rent (BTR) development will include 350 new apartments.
Also in Manchester, Paragon is advising on the £17m build-to-sell (BTS) Sky Gardens building in Castlefield. Developed by Cheshire-based DeTrafford, it will have 174 apartments.
In Salford, the consultancy has been appointed by the English Cities Fund on its three BTR New Bailey schemes worth £63m, delivering 424 apartments within the heart of the city.
Developer Fortis has also instructed Paragon on its 163-unit residential Adelphi Wharf scheme in Salford, which totals £86.5m, and its £33m Bridgewater Point building in the city which will deliver 220 apartments.
In Liverpool, Paragon has been instructed by LaSalle Investment Management to provide project monitoring on the £82m, 34-storey Lexington Tower scheme as part of the Liverpool Waters regeneration and redevelopment masterplan.
Once complete, the 304-apartment tower will be the tallest in the Liverpool Waters development, overlooking the city’s famous docks.
Paragon director and head of the Manchester office James Onions said: “We’re proud to advise on some of the North West’s most notable landmark residential projects.
“BTR and BTS are a substantial part of our business, which is testament to Paragon’s excellent reputation in the region and our distinct, pragmatic approach.
“The North West BTR and BTS boom is attracting billions in inward investment from across the UK and worldwide. These developments are transforming the region’s skyline and enhancing its profile on a global scale. We look forward to announcing further instructions in the future.”
This latest announcement follows Paragon’s instruction last year by Allied London on the redevelopment of Manchester’s ABC Buildings and Old Granada Studios, both part of the £1.35bn Enterprise City masterplan.
Paragon’s North West-based clients include APAM, Northwood, Praxis and Select Property Group. The consultancy employs nearly 200 people and also has offices in London, Esher, Edinburgh and Bristol.