Place strategy

North West Square | FEC increases holdings to £ 4bn in Victoria North

FEC is working with Hawkins / Brown to develop new designs for the site. Credit: via Citypress

Dan Whelan

The developer has acquired a two-acre site off Dantzic Street that has planning permission for 415 homes.

Far East Consortium purchased the site from Leftfield Investment Holdings, which obtained consent for a residential project in 2019.

The sale price was not disclosed.

After agreeing to the terms of the land deal, the developer is now working with architect Hawkins Brown to come up with a new plan for the site.

Other members of the design team include ROC Consulting, Futureserv, and WSP. The Leftfield project was designed by SimpsonHaugh Architects with planning advice from Paul Butler Associates.

The land, next to FEC’s 634 housing development in Victoria Riverside, is in the Red Bank area, as part of Victoria North’s £ 4bn master plan that FEC is delivering in partnership with City Council from Manchester.

Red Bank is intended for 5,500 homes and a public portion of nine is on a largely abandoned strip of former industrial land along the River Irk. The master plan for the area was developed by designed by Maccreanor Lavington and Schulze + Grassov.

In November, Manchester City Council filed a request to do preliminary work to prepare the 37-acre Red Bank for development.

FEC now owns over 35 acres in Victoria North, around 9% of the total 400-acre master plan, having invested around £ 30million in acquisitions over the past five years.

Tom Pool, Senior Director of Development at FEC, said: “This site will be an important part of Red Bank’s early stages of development as part of Victoria North. We have worked hard to ensure that our strategic acquisitions are acquired off-market at a good value to allow us to continue the momentum of our development plans.

“Our land assembly strategy for this initial phase means that we will now be able to deliver homes at the pace and scale we need to transform this part of Manchester into a thriving residential community.”