It has been announced that GMI Construction and Town Centre Securities have recently agreed on a JV for a residential development organisation to begin with the construction of a block of flats in the Manchester area, under the name of Belgravia Living Group.

Designed by architect, Simpson Haugh, the new development serves as the first project to be pursued by the newly-formed JV, which will see the development of circa 91 apartments across some 90,000 square feet of residential space. The project is to be pursued around the Piccadilly Basin in Manchester and will provide much-needed addition to the residential availability in the ever-busying Manchester area.

Headed up by Robert Rushworth, formerly of Shepherd Construction, the Belgravia Living Group has far greater ambitions than this sole project however, and actually hopes to deliver approximately 900 apartments in the area over the course of the following years. To support this, the Greater Manchester Housing Fund has issued a £9.7m loan for phase one of the present development, which will serve to showcase the group’s capacity to deliver quality residential stock.

Additionally, planning consent has also already been provided for phase one, with the early stages of the development work to begin this April, with the development going into full swing by June. It is then hoped that the programme will face completion in approximately a year and a half’s time.

The location for the development, Piccadilly Basin, has already been developed by Town Centre Securities as was outlined in the masterplan of 1998, with the Urban Retail Village, some 150 apartments, the renovation and extension of commercial space and accompanying car parking facilities. As such, the upcoming JV plans appear to follow on from the existing plans with the potential goal to develop the area into one with both opportunities for living and working in Manchester.

It is also expected that HS2 will contribute significantly to the area, with the combed development having a major impact on Piccadilly Basin. Jarrod Best, Managing Director of GMI also commented: “We are delighted to have joined forces with TCS to deliver what will be a high quality residential scheme to suit discerning owners and occupiers within the key Manchester M1 postcode.”