The Manchester Red Bank Riverside project forms a major part of the £4bn Victoria North regeneration scheme that is already transforming this part of the city.
Located in the heart of the city’s Victoria North transformation project, Manchester Red Bank is set to create an important new neighbourhood in this part of Manchester, boosting property investment prospects as it delivers new homes, jobs, and amenities.
Described by the developer Far East Consortium (FEC) as a “refreshingly green take on urban living”, the project is located just minutes from central Manchester close to Victoria train station.
According to Manchester City Council, a total of more than 5,500 new homes will be built at Manchester Red Bank over the next 15 years, with a mixture of property types and tenures. This “underused” part of the city will be transformed into a desirable and unique riverside setting, offering a well-connected extension of the city centre.
It neighbours the existing residential communities in the Green Quarter, Angel Meadow and Collyhurst, with businesses already choosing to make this part of the city their home, drawing more visitors to this part of Manchester.
More on the development
The Manchester Red Bank project forms a significant segment of the overall Victoria North regeneration scheme, which is being jointly developed and funded by Manchester City Council and FEC.
The global development company has been responsible for a number of residential and mixed-use buildings and hotels across the UK, including some major projects in Manchester, and has developed a reputation for its high-quality strategic developments.
At the moment, FEC is leading projects including Collyhurst Village, MeadowSide and New Cross Central in Manchester, as well as Consort Place and Hornsey Town Hall in London.
One of the standout features of the Manchester Red Bank development is its residents-only Clubhouse, which offers amenities including a bar and restaurant, fitness and wellbeing suite, lounge, private hire dining and co-working space, all for the exclusive use of the residents.
The first apartment building of the new neighbourhood, Falcon, offers a range of one, two, and three-bedroom “contemporary homes, made for modern urban living”.
Kingfisher is the newest phase of the scheme now under construction, which also offers one, two and three-bedroom homes with open-plan layouts. With more than 320 new units available, the 30-storey development is designed to be sustainable and energy-efficient, with low-carbon technology including air source heat pumps and photovoltaic solar panels, according to papers released last year.
A £4bn scheme transforming Manchester
The Victoria North scheme is described as one of the UK’s “largest and most ambitious regeneration projects”, and is the largest in Manchester’s history. In total, it is expected to create 15,000 homes in the north-eastern section of the city, growing the overall population by 40,000.
Better connected public spaces including high-quality walking and cycling routes will enable easy travel around the area and into other parts of the city, while new and improved transport links are also in the pipeline to ensure adequate infrastructure for the growing population.
The 46-hectare City River Park featuring new and improved parkland sits at the heart of the project, boosting the area’s appeal for new residents, with £52m being committed to complete this first phase of the transformation, scheduled to complete this year.
Investing in Manchester Red Bank
The regeneration scheme is already attracting large numbers of investors looking to get in early to secure the best capital appreciation prospects. This makes it an ideal place to consider for all buyer types, from first-time buyers to novice and experienced property investors.
Manchester’s rental market is one of the strongest in the country thanks to extremely high levels of rental demand and strong yields for landlords, and the new Manchester Red Bank location is expected to attract young professional tenants seeking a high standard of living while being an easy commute away from the city centre.
If you’re looking for your next property investment opportunity in Manchester, get in touch with BuyAssociation today to find out about our current and upcoming projects in the city.
