Trafford Council backs One Victoria residential scheme

Trafford Council has provided a £22.6m loan to support the delivery of the latest residential scheme in Manchester city centre. One Heritage Group will move forward with the development of two towers on Great Ducie Street by Victoria Station, consisting of 129 flats. The project, known as One Victoria, will have a roof terrace on the 10th floor and strong ESG credentials, with each parking space to be fitted with an electric charging point, cycle storage provision, PVs installed on the roof of both towers as well as water-saving appliances, smart radiators and energy-saving lighting in each flat. One Victoria has a gross development value of £40m and completion is expected in 2025. Liz Patel, Trafford Council’s executive member for economy and regeneration, said: “This scheme is an important investment opportunity for us, supporting regeneration in Greater Manchester and providing an investment return for Trafford Council. These returns will go on to support services and regeneration activity within the borough. We look forward to seeing the scheme progress.” Trafford Council is advised by CBRE’s lending team within its Capital Advisors business. Freeths acted on the legal due diligence for the council. Torsion Group has been appointed as a contractor. To send feedback, e-mail evelina.grecenko@eg.co.uk or tweet @Gre_Eve or @EGPropertyNews