Mulbury Homes has submitted plans for a 134-home residential scheme in Manchester city centre.
The proposed development on Great Ancoats street, with a GDV of £30m, marks the house builder’s first foray into the private rented sector.
Mulbury is now in discussions with several institutional investors interested in purchasing and letting the properties upon completion.
Greg Mulligan, a director of Mulbury Homes, said: “This is an exciting and inspiring scheme that will offer quality city living in the private rented sector.
“While this is our first PRS scheme, we’re already looking at a good number of city-centre development opportunities in Manchester to complement our portfolio of homes for private sale and our affordable housing developments across the North West.”
The £30m development, between eight and 14 storeys in height, has been designed by Manchester-based Tim Groom Architects.
If planning permission is granted, the development could start on site as early as January 2016 and be completed by summer 2017.
Tim Groom, director of Tim Groom Architects, said: “Great Ancoats Street is such an important route into the heart of Manchester and is on the doorstep to the Northern Quarter and New Islington. We’ve worked hard on the design to help knit back together what has become a disjointed and, in places, run-down street scape.”
