The urban development, Barrel Yard, will consist of a mixture of apartments and townhouses and forms part of a wider regeneration project in the area. The homes will be located on Moss Lane West, within walking distance of Manchester city centre.
The development will be led by Forshaw Land & Property Group, Colbre Projects will act as the contractor, while Primo Property Management will manage the multi-million pound scheme.
Adjacent to the Queen’s Brewery development, also delivered by Knight Knox and Forshaw Group, Barrel Yard will offer 42 apartments, including 25 one to two-bedroom apartments and 17 three to four bedroom townhouses.
Amenities for the £8.8 million scheme are set to include a large communal area and parking facilities for the 25 apartments. Additionally, townhouses will come complete with front and rear gardens and private parking spaces. The design of the plots has been influenced by the neighbouring Queen’s Brewery building (the former Hyde’s Brewery), and will complement existing developments in the area.
Construction at Barrel Yard is due to begin in November 2016, with completion expected in Q3 of 2017.
Andy Phillips, commercial director at Knight Knox, said: “Manchester is a thriving buy-to-let hotspot in the UK and offers very attractive prospects to investors. Despite economic uncertainty, the sector is booming and if we look at the rate and volume of current development plans, it’s clear to see that the demand for new investment properties is still growing.
“Hulme is an up-and-coming district, just one mile from the city centre, and we’re delighted to be contributing to regeneration here, whilst enhancing our reputation in this area with a second residential scheme.”
Barrel Yard joins over 70 successful buy-to-let developments on Knight Knox’s varied portfolio, which includes both new-build residences and refurbishment projects.
Lyndon Forshaw at Forshaw Land & Property Group, said: “We’re delighted to be working with Knight Knox on this exciting city centre development, bringing a new lease of life to the historic industrial site. The scheme will contribute to the area’s much anticipated regeneration and provide sustainable new homes within walking distance of Manchester’s city centre.
“We’re confident that Barrel Yard, along with The Queen’s Brewery, will become a key location for investment and look forward to starting the project next month.”