Allied London has partnered with Vita Group to revamp its plans for its two PRS towers, known as Nickel and Dime, in Manchester.
Vita has acquired the site, which is the first phase of residential development at the wider Enterprise City scheme
Vita will work with Allied London to “reconfigure this first residential element of Enterprise City”, with the new plans to be revealed shortly.
As part of the deal, Vita will work with Allied to revise its plans for the Riverside plots in Enterprise City.
The Nickel and Dime towers, which were planned to deliver about 600 homes, are located next to Manchester Goods Yard, home to what will be Booking.com’s 200,000sq ft office building.
Michael Ingall, Allied London’s chief executive, said: “In Vita, we have chosen a partner that shares our ambition for Enterprise City to become the UK’s new home for modern industry, and that has the expertise and capability to deliver state-of-the-art, responsive development across all sectors of living.
“I’m excited about working together on plans to create an innovative residential offering that will cater to the needs of tomorrow’s workforce.
“It’s no longer a case of just putting up two or three residential towers and hoping they work – I want the offer to be appropriate, sustainable and affordable. Many of our commercial tenants have attested to appropriate accommodation close to the workplace.
“For us, the agreement is ideal as it allows us to divest part of our landholding to a best-in-class operator with plans to bring forward new development quickly, while working in concert with them to help deliver on our overall vision.”
Vita Group chief executive Mark Stott added: “Enterprise City will be a neighbourhood based around culture, innovation and the future of commerce and deserves world-class accommodation that matches this vision. We look forward to sharing our plans in the coming months.”
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