Contractor gets £24.4m city centre PRS deal

CONTRACTOR Forrest has been appointed to deliver the second phase of the £24.4m X1 Eastbank development in Manchester city centre, named X1 The Plaza.
 
The private rented sector (PRS) scheme will include 201 one, two and three bedroom apartments across 10 storeys with construction due to begin in February and completion expected in autumn 2017. All the apartments have been sold off plan.

The site also includes a gym and 102 car parking spaces.

Forrest, based at Westhoughton, near Bolton, was also appointed to develop the first phase of the scheme last year, also fully sold off-plan. It is due to be completed in the summer.

Neil Ashworth, head of new build at Forrest, said: “Developing the first phase of this scheme was our entrance into the PRS sector and this second appointment is further evidence of the quality our team is capable of delivering.

“Bolstering our credentials in the private residential market continues to be part of our ongoing diversification strategy. New build private development is set to continue across the country in line with growing demand for owned and rented properties.

“This, coupled with our track record in high-rise residential, means we’re in a particularly strong position to capture work coming forth across the industry.”

Melissa Green, operations and regional director at X1, said: “We are delighted to be working with Forrest again on X1 The Plaza following our successful partnership to date on X1 Eastbank. These development schemes have proved extremely popular.”
 
Knight Knox is the agent for the development with the original design completed by DK Architects.
 
X1 is a UK-based residential developer and investor, founded in Liverpool with a portfolio of more than 30 successful projects in the sector.