A residential property development company named High Street Residential, a branch of the wider company known as the High Street Group, has entered into a joint venture with Logik Developments to fund, plan, design, and develop a £100M mixed-use development on Arundel Street, Manchester.
Specifically, the Arundel Street development will consist of three separate tower blocks of up to 23-storeys in height that will provide a grand total of 355 privately rented residential units that will be contained within apartments which possess between one and three bedrooms each.
Furthermore, the towers will include rooftop gardens, commercial, retail, and leisure space, with construction scheduled to commence some time in the second quarter of 2020.
The High Street Group Chairman, Gary Forrest stated: “Manchester is a thriving city with a growing number of high-tech and media businesses and the demand for housing in the area has increased significantly.
“Over 19 per cent of people currently prefer to rent and that figure is expected to rise rapidly in the future. We aim to meet this demand, by delivering high quality living spaces in town and city centres, with communal relaxation and leisure facilities where people can meet, form friendships and build new communities.”
The construction site on Arundel Street occupies what used to be at the home of Dot motorcycles until the land was purchased by Logik Developments back in 2017.
The Managing Director of Logik Developments, Neil Spencer added; “We are really pleased to be entering into this JV partnership. High Street Residential is an expert in private rented sector development and we are looking forward to bringing the delivery of this major scheme forward as a team.
“We have been in talks for some time and are hopefully looking to extend this relationship across further development opportunities. Arundel Street is a key site for Logik, with the capacity to create outstanding homes in a prominent city centre location.”
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