First residents move in to New Vic scheme next to Manchester Victoria

The first tenants have moved into Pension Insurance Corporation’s (PIC) New Vic development in Manchester.

The nationwide placemaker Muse, has been the developer for the project, and VINCI Building has been the contractor.

PIC is a specialist insurer of defined benefit pension funds and New Vic is its first Build to Rent project to complete, repurposing a key area next to Manchester Victoria train station into a vibrant new pet-friendly residential community.

New Vic has 520 homes across two towers of 20- and 25-storeys, respectively, offering more than 17,000 sq ft of resident amenities and more than 6,000 sq ft of commercial space.

Following practical completion, homes are now available for rent.

Sam Winnard, head of Build to Rent operations at PIC, said: “Completing the development is a key milestone for us and rental properties are now available on our Homes by PIC platform.

“Over the coming months, we will be making more homes available around the country, helping address the societal issue of acute housing undersupply in the UK today whilst providing long term, secure investment returns which underpin the pensions we pay to our policyholders.”