Manchester Life’s £87.5m Phoenix Ironworks advances
The next phase of Ancoats’ regeneration will see a former industrial site redeveloped into 256 homes.
Manchester Life has submitted its proposals for the residential project, known as Phoenix Ironworks and located off Naval Street, Poland Street, Jersey Street, and Radium Street.
Designed by Callison RTKL, the project would deliver a mix of one-, two-, and three-bedroom apartments and townhouses and up to 14,500 sq ft of commercial space, including a row of workshops geared towards creatives.
A viability appraisal by Savills estimates the scheme has a gross development value of £87.5m and will cost £76m to develop.
The project team features Mace, Planit-IE, Deloitte, Curtins, Buro Happold, Sandy Brown, Hoare Lea, Turner and Townsend, and Counter Context.
To learn more about the project, search for application reference number 137346/FO/2023 on Manchester City Council’s planning portal.
In order to clear the path for the project to take place, Manchester City Council is planning to use compulsory purchase powers to address several rights of way, restrictive covenants, rent charges, and unregistered freehold interests.
Phoenix Ironworks builds on Manchester Life’s extensive work in Ancoats and New Islington, which has seen the business deliver nearly 1,500 homes across the neighbourhoods.
Earlier this year, the company succeeded in securing planning permission for 190-flat Jersey Wharf project, located close to Phoenix Ironworks.
Manchester Life is a joint venture between Manchester City Council and Acre Real Estate Investment and Development.
Sheikh Mansour bin Zayed bin Sultan Al Nahyan, the majority shareholder of Manchester City Football Club, owns Acre.
The internal courtyard at Phoenix Ironworks. Credit: via planning documents
Wow. What an architectural marvel.
By Tom
Apparently there’s no section 106 or affordable as there’s only 10% profit in the development and that includes a grant of £1.6m. The land is only £1.8m and apparently £6m of abnormals on a 1.5acre site…wonder what those are. What is going on when a new build of 250 or so units can’t contribute anything to the council coffers?
By Anon
Some balconies on the buildings would have enhanced it from the front and at the back
By Balcony Monitor
Looks good. There’s loads of potential for this area of Ancoats.
By Digbuth O'Hooligan
Agree with balcony watch. Why are we seeing so many developments in Manchester that don’t have balconies? Can anyone from the council or developers explain?
By Anonymous
Re Anon: Average annual council tax for these units would be £1,800 x 250 apartments = £450,000. Think bigger picture rather than the immediate knee jerk affordable homes issue.
By Anonymous
Yet another appalling scheme that MCC will wave through planning unquestioned. Does imagination and creativity count for anything any more?
Another set of bland boxes staining Ancoats’ rich history. Such a shame.
By Anonymous
Anon @9.30am – the £6m site abnormals will probably be dealing with all of the contamination in the ground from over 200 years of old industrial uses – the clue is in the title of the scheme.
By Anonymous
Have to agree – balconies would have made this one look much better. Very dull for such a fantastic area.
By Anonymous
Re: Anon @10.55
Council tax is costed to cover (plus a bit) for the annual cost of services to the additional population to be provided by the council. Whereas business rates are a much more profitable take for the council for the services (or lack thereof) they provide….businesses don’t even get their bins picked up. Reaction wasn’t knee jerk. S106 are supposed to cover some of the capital costs of setting up to provide services to the additional population (eg extra school spaces/GP space, green space levy, transport levy etc). Affordables/social are supposed to provide (preferably on-site) a proportion of less than market cost properties for rent.
By Anon
is high council tax banding but very low dependency. So do the maths
By Statto
I wouldn’t expect anything more for Manchester Life – very dull
By Anonymous