Plans Approved for £400million Manchester Gasworks Regeneration

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    At North Property Group, we previously reported the transformational £4billion Victoria North scheme that will completely redevelop a 155-hectare area in the north of Manchester.

    And now, another step forward has been made in making this project a reality, with the approval of the £400million Gasworks New Town project that sits within the wider Victoria North scheme.

    Over 1,200 new homes

    The new development will contain over 1,200 new homes, of which many will be available as new buy-to-lets in Manchester. These properties will be a mix of townhouses and apartments, all situated on the site of the former Rochdale Road Gas Works.

    The work is being led by MCR Property Group, who have worked closely with the funder and developer of Victoria North, Far East Consortium.

    Gasworks New Town will span 6.6 acres in central Manchester, with nine separate buildings of between 8 and 34 storeys. Architects AHR are responsible for their design, with construction on the first due to begin this summer. Work should be complete with residents able to move in by the end of 2023.

    New local amenities

    As well as the new residential buildings, the approved plans comprise other amenities that will make Gasworks New Town a good option for a Manchester buy-to-let investment. These include a new public park, space for commercial units and a pedestrian and cycle route.

    There will also be limited underground parking, with storage space for over 1,200 bicycles taking priority. This is to encourage people to be more eco-friendly in their transport choices, aiming to increase the number of residents choosing to walk, cycle and use public transport instead

    An inspirational place

    MCR Property Group have owned the land for the Gasworks New Town development since 2015, but for years it has only contained a car park that added little to the city. Now, with the creation of so many Manchester buy-to-lets and owner-occupier properties, the area is set to become a thriving location for the people of Manchester.

    Nick Lake, asset manager for MCR Property Group, said: “This is the jewel in the crown for MCR. We’re a Manchester-based business and this is an incredibly proud moment for the company.

    “We all felt a responsibility to create something spectacular on home turf and there is no doubt that the Gasworks will provide an aspirational and inspirational place to live and work.”

    The leader of Manchester City Council, Sir Richard Leese, added: “The Gasworks development will breathe life into a largely forgotten corner of the city centre fringe, bringing purpose and an energy to an area that is currently characterised by surface car parks.

    Residential investment at this scale should be celebrated and will contribute significantly to meeting demand for high quality homes in this part of the city.”

    Get in touch

    To find out more about investing in a Manchester buy-to-let, contact North Property Group today.

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