Major brownfield acquisition opens door to ambitious 2,000-home development
Manchester-based MCR Property Group has completed the acquisition of a major 15.86-acre site with potential to create up to 2,000 homes in the emerging Holt Town district of Manchester.
The Holt Town regeneration project aims to create a new, sustainable, mixed-use ‘woodland town’ within the city, with a focus on innovation, green spaces, and community.
Sitting amongst the new Co-Op Live Arena and Manchester City’s Etihad stadium, residential development is positioned at the heart of the scheme, alongside new commercial spaces, a community hub, lido, and improved public transport.
Located just 1.7 miles from Manchester city centre, the site spans three distinct plots, including a 9.67-acre former gasworks, now levelled and primed for use; a 0.98-acre grassland parcel accessed via Manchester City Football Club’s car park; and the larger 5.21-acre L-shaped plot.
Together, these plots represent a rare large-scale opportunity right on the edge of one of the city’s fastest emerging neighbourhoods.
Cheadle-based property lender, Together, which has a £7.7bn loan book and has worked alongside MCR for more than three decades, provided a multimillion-pound funding facility for the purchase of the brownfield site.
This acquisition marks the second former gasworks site within MCR’s growing portfolio following the successful planning approval for more than 1,200 new homes at Gould Street.
MCR now holds a potential pipeline of more than 3,000 residential units across the city. It will bring forward plans for Holt Town that align with the area’s high density residential ambitions, where towers of 18-, 20-, and 22-storeys are identified within the planning framework.
Nick Lake, of MCR Property Group, said: “This is a pivotal acquisition for MCR in one of Manchester’s most exciting growth zones.
Nick Lake
“As our second former gasworks site in the city, we will be able to apply our proven expertise in unlocking brownfield land for transformational development and we are looking forward to contributing to the wider Holt Town regeneration.”
MCR thanked its professional partners for their support on this acquisition, including funding partner, Together, and legal partner, Deloitte Legal.
Marc Goldberg, CEO of sales and distribution at Together, said: “We’ve worked alongside MCR Property Group for more than 30 years and are proud to be supporting yet another exciting chapter in their journey.
“This landmark acquisition has the potential to play a pivotal role in Manchester’s ongoing regeneration story. Holt Town is a truly transformational opportunity, and we look forward to seeing MCR bring their vision for the site to life.”
MCR is now working closely with its architects and internal development and placemaking teams to bring forward a residential-led scheme that reflects the ambitions of the Holt Town Framework.
