Leeds-based property investor and car park operator, Town Centre Securities PLC (TCS), has launched its first Private Rental Sector (PRS) scheme with the completion of 91 luxury waterfront apartments within its 13 acre award-winning Piccadilly Basin development in Manchester City Centre.
The canal-side Burlington House scheme, which is being delivered in partnership with Highgrove Group, is the first PRS development undertaken by TCS and has been designed by internationally-acclaimed Architects SimpsonHaugh. Burlington House comprises 91 apartments of one, two and three bedrooms set over 11 floors.
Piccadilly Basin is one of TCS’s most significant development opportunities with a mix of residential, commercial and car parking with a total estimated GDV of over £300m.
The delivery of Burlington House forms part of the wider regeneration aspirations for the strategic site, which include the redevelopment of existing and recently acquired office buildings and the next residential development, Eider House, which will be the second PRS scheme for TCS.
Edward Ziff, chairman and chief executive of TCS, said: “To be delivering our first ever PRS scheme represents an exciting time for TCS. Piccadilly Basin is a unique regeneration scheme with far-reaching development opportunities and is the natural home for a luxury apartment development of this nature.
“We will diversify our portfolio in response to market demand where we recognise opportunities, and are anticipating strong interest in this new venture.”
The project team on Burlington House includes GMI Construction Group, SimpsonHaugh, Civic and Max Fordham. JLL is retained as managing agent and over the last 12 months has helped prepare the building for the Manchester PRS market.