Le mie ricette per la real estate communityHousing Growth Partnership (“HGP”), the Lloyds-backed equity investor supporting the UK’s living sector to deliver more homes, has committed £13m to a joint venture with McGoff Group (“McGoff”) to deliver the new Downtown Victoria North build-to-rent scheme in Manchester.
The development is situated on a form er gasworks on Rochdale Road and represents a key element of the wider Victoria North regeneration programme. Construction work has now started and is scheduled to complete in late 2025.
The development of one, two and three-bedroom apartments and townhouses is situated a 10-minute walk from the centre of Manchester and will provide tenants with a high-quality living experience.
The completed site will feature extensive landscaping, including a communal garden courtyard with seating areas, pocket square and private gardens. It will also offer a reception with spacious seating area and business centre, a 24/7 concierge service, a residents’ lounge, fully equipped gym, underground car parking and bicycle storage.
McGoff Group will undertake all aspects of the delivery of the scheme with McGoff Construction acting as main contractor and McGoff’s sister company, Downtown Asset Management, operating the completed development. This project represents McGoff’s second Manchester city centre development following completion of its 374-unit ‘Downtown’ development on the
The McGoff Group is a £150m collective of like-minded businesses with a seamless ability to acquire, design, build, operate and maintain across targeted healthcare, residential and commercial sectors making it the favoured choice for clients, funders, joint venture partners and supply chain partners alike.
Driven by second-generation family values, innovation, excellence and operational expertise, the McGoff name signifies quality, agility and an unbreakable force that is well equipped to sustain the business for future generations to come. For further information, please visit www.mcgoffgroup.com.
Housing Growth Partnership (HGP) is an equity investor helping the UK living sector grow. HGP was established in 2015 as a joint venture between Lloyds Banking Group and Homes England, accessing patient and secure institutional capital.
HGP has invested more than £300m of equity in housing developments in the UK, working in partnership with property developers and other financial and real estate organisations to accelerate housing delivery.
HGP investments have committed to deliver over 8,350 new homes (with GDV in excess of £2.7bn) across Build to Rent, PBSA, open market, retirement living and regeneration schemes.
Equity funding is a nascent funding model, but regarded as increasingly fundamental to unlocking UK housing delivery. Against the most restrictive financing backdrop since 2008, equity funders like HGP are enabling property developers who would find it difficult to get on site to bring forward new schemes, thus playing an important role in the regeneration of communities across the UK.
Source : Joint release
