Nicholson Estates has paid Morrison Merlin £3.8m for the freehold of a 0.33 acre (0.13ha) site in Manchester’s city centre.
In an off-market deal, Nicholson paid the equivalent of £11.4m per acre for the site at the junction of Windmill Street and Watson Street.
The controversial site already has outline consent for residential use and detailed consent for the construction of the 11,148 sq m (120,000 sq ft) office building – the Great Northern Tower.
As tipped in EGi on 8 February, Morrison Merlin sold the prominent site to the developer, for a change of use to house a 20-storey residential development.
Meanwhile, at Gaythorn, outside of the city centre, a Liverpool-based private developer has paid Jarvis around £1.5m for a 0.4ha (1 acre) site. The site which borders Cambridge Street and Chester Street was bought unconditionally and will also be developed for residential use. Matthews & Goodman’s Andrew Hine, said: “It will be developed for private residential use or student accommodation. An application will be going in shortly.”
EGi 22/02/00
