Victoria North developer Far East Consortium snaps up two-acre site
Far East Consortium, the developer behind Manchester’s Victoria North regeneration project, has snapped up a two-acre site to form part of its Red Bank neighbourhood.
The land on Dantzic Street is part of the strategic regeneration framework for Victoria North, which will deliver 15,000 new homes in Manchester city centre over the next decade.
FEC has now acquired more than 35 acres of land on the edge of the city centre since entering into joint venture partnership with Manchester City Council to deliver what is the city’s largest ever urban regeneration project.
FEC now intends to bring forward a new residential development to complement its adjacent Victoria Riverside development and as part of the wider masterplan for Red Bank being designed by Maccreanor Lavington and Schulze+Grassov.
Having agreed terms on the land deal, the developer has been working with architects Hawkins\Brown to work up a new scheme for the site. Other members of the design team include ROC Consulting, Futureserv and WSP.
Tom Pool, senior development manager at FEC, said: “This site will form an important part of the first phases of development in Red Bank as part of Victoria North.
“We have been working hard to ensure that our strategic acquisitions are acquired off-market at a good value to allow us to keep momentum with our development plans.
“We have invested more than £30million in land acquisitions in the past five years alone, demonstrating our commitment to Manchester and Victoria North through what is now a pipeline of c5,000 homes.
“Our land assembly strategy for this initial phase means we will now be able to deliver those homes at the pace and scale we require to transform this part of Manchester into a thriving residential community.”
FEC’s vision for Red Bank is currently undergoing public consultation.