Heyrod Street, Manchester

The Asset at a Glance

This scheme will play a major role in the Manchester Piccadilly Strategic Regeneration Framework and bring much needed rental housing to the city. Fiera Real Estate is actively seeking similar sites in major urban locations.
Chris Button, Head of Value Add REIM
Investment Theme
Residential (for sale or rent)
Purchase Date
January 2020
Purchase Price
£6m
NIY
N/A
Fund
Fiera Real Estate Opportunity Fund V
Features
• Former printing works on a 0.7 acre site in Manchester Piccadilly Regeneration area • Corporate acquisition from owner occupier • Planning sought for a purpose-designed BTR scheme delivering c.350 rental homes with a mix of studio, 1, 2 and 3 beds • Scheme to be sold by way of a forward funding to a BTR investor
Purchase Rationale
• Off market acquisition from owner occupier • Site allocated through the strategic regeneration framework • Lack of multi-family rental housing in the area • Within short walking distance from Manchester Piccadilly station and the city centre
Location
  • Heyrod Street, Manchester, M1 1WW