Developer UK Land and Property has agreed to take over the development of the Sarah Point residential project on Great Ancoats Street, Manchester, which has been stalled since 2008. The scheme is to be re-launched as Nuovo.
The project has planning consent for 166 apartments and ground floor commercial uses.
UK Land and Property has worked with urban regeneration company New East Manchester and the Homes and Communities Agency in drawing up plans for the scheme’s completion. The HCA has invested a total of £2.5m into the scheme.
Enabling works at the site have begun and the construction on both the tower and podium block is scheduled to start in July 2011 and is due to complete by mid to late 2012.
Steve Thorncroft, deputy chief executive for New East Manchester, commented: “Nuovo is a significant piece of the regeneration of East Manchester and will continue to transform the look of Ancoats into an area where people can live, work and enjoy what this unique part of the city centre brings.”
daniel.cunningham@estatesgazette.com
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