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Old May 14th, 2015, 01:15 PM   #881
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Angel Gardens | NOMA | 106m | 33 fl | App...
Quote:
Apache takes flight with £1bn regional PRS platform

14 May 2015 | By Richard Williams Propertyweek

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Japan quake data Middle Eastern investor Apache Capital Partners has formed a £1bn joint venture with Moda Living to establish the UK’s first regional
private rented sector (PRS) platform.


Moda Living’s Angel Gardens scheme

In a huge fillip for regional PRS investment, Apache and Moda have joined forces to create a partnership that will initially develop five schemes totalling 5,000 units, with further sites to be rolled out in the future.

To kick off the joint venture, Bahrain-based Apache has struck a deal with Moda to fund its first scheme in Manchester for £130m. The deal for the 458-unit Angel Gardens development has been agreed at a yield of 5%.

The joint venture, which is in the process of going through legal teams and is expected to be signed off in the coming weeks, will also develop further schemes in Birmingham, Liverpool and the South East.


Moda, a joint venture between Caddick Developments and Generate Land, will retain an equity stake in the partnership that will be built up as it takes profits from the schemes and translates them into investment.

Two further Moda PRS schemes, both in Leeds and totalling 1,900 units, could be rolled into the platform as and when planning permission is achieved.

Apache, which is backed by high-net-worth sovereign wealth money from the Middle East, will work with Moda to plan, develop and operate the schemes in the platform.

The partnership will largely focus on the regions but London and South East sites are also under review. An exit is expected at some point in the form of a real estate investment trust or an IPO.

The Angel Gardens deal would be one of the most significant in the fledgling Manchester PRS scene, where several other schemes are also attracting the interests of investors.

Moda first sought a buyer for the scheme - which has planning in place for a 36-storey tower - in March and attracted interest from a long list of investors.


Moda’s PRS model targets higher-end renters and its schemes include facilities such as sports courts, barbecues, meeting rooms, communal gardens, coffee lounges, gyms and cinema rooms.

A one-bed apartment at Angel Gardens is set to attract rents of £1,000 a month, while a two-bed will hit £1,400.

Included in the Apache-Moda joint venture is the 40-storey PRS tower at Peel Group’s Liverpool Waters, which is under development and will total 325 units.

Moda is also under offer on a site in Birmingham, which will fall into the joint venture, as well as one in the South East and a further site in another region.

Moda’s two sites in Leeds - City One and Quarry Hill - are in the planning process for 1,200 units and 700 units respectively and may be rolled into the partnership at a later date.

CBRE advised Moda Living. All parties declined to comment.
Originally posted by jrb
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Old May 15th, 2015, 01:44 PM   #882
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Manchester Victoria Station
Rail station | Victoria, City

Floors: N/A | Developer: Network Rail

Current Status: Nearing Completion

Thread: http://www.skyscrapercity.com/showth...#post120709341



Pictures by TonyH1.

The transformation is almost complete, here's Tony's pic from 2009:






... From the exact same place in 2015:










Starbucks have almost finished fitting out their new cafe in the station. Picture by Network Rail.






Picture by Phreud:

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Old May 15th, 2015, 02:09 PM   #883
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Looks fantastic! Great updates as always. Will be in Manchester for the HOME launch this week - am looking forward to seeing all these great developments.
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Old May 15th, 2015, 05:05 PM   #884
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Dynamic stuff for Manchester for sure, fantastic. I expect to see Manchester move up the rankings of global cities soon, should be at least Beta+ category, maybe even an Alpha rating? how do they judge criteria?
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Old May 15th, 2015, 08:17 PM   #885
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Dynamic stuff for Manchester for sure, fantastic. I expect to see Manchester move up the rankings of global cities soon, should be at least Beta+ category, maybe even an Alpha rating? how do they judge criteria?
We're a Beta city already, up from a Gamma- 15 years ago

http://en.wikipedia.org/wiki/Global_city

According to the above link, the characteristics of a world city:

Quote:
Although what constitutes a world city is still subject to debate, standard characteristics of world cities are:

A variety of international financial services, notably in finance, insurance, real estate, banking, accountancy, and marketing
Headquarters of several multinational corporations
The existence of financial headquarters, a stock exchange and major financial institutions
Domination of the trade and economy of a large surrounding area
Major manufacturing centres with port and container facilities
Considerable decision-making power on a daily basis and at a global level
Centres of new ideas and innovation in business, economics, culture and politics
Centres of media and communications for global networks
Dominance of the national region with great international significance
High percentage of residents employed in the services sector and information sector
High-quality educational institutions, including renowned universities, international student attendance and research facilities
Multi-functional infrastructure offering some of the best legal, medical and entertainment facilities in the country
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Old May 16th, 2015, 11:53 AM   #886
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No 1 Spinningfields | 91m | 19 fl | Demo...

At last demo has seriously started

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Can literally see through the innards of the building to Quay Street from this angle.. Quay Street elevation glazing still intact for now.
And then couple days later...

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Getting on with it today...

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Old May 17th, 2015, 06:54 PM   #887
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One Greengate
Apartments | Salford

Floors: 15-31 | Number of Apartments: 500 | Developer: Renaker

Current Status: Under Construction

Thread: http://www.skyscrapercity.com/showth...#post121223770




Rising, picture by markdeedrop:

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Old May 17th, 2015, 07:10 PM   #888
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Great!
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Old May 18th, 2015, 08:25 PM   #889
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One Greengate | 88m | 21 & 31 fl | U/C...

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Some more close ups of it









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Old May 18th, 2015, 09:45 PM   #890
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St Peter's Square Regeneration
Public Space | Midtown

Cost: £20m | Developer: Manchester City Council

Current Status: Under Construction

Thread: http://www.skyscrapercity.com/showthread.php?t=576005



New renders released of the St Peter's Square redevelopment.







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Old May 18th, 2015, 09:49 PM   #891
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Hat Box
Apartments | New Islington, City

Floors: 7 & 8 | Developer: Scarborough | Number of Apartments: 145

Current Status: Under Construction

Thread: http://www.skyscrapercity.com/showth...=382245&page=6





Pics by Matthew Darymple:



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Old May 19th, 2015, 11:33 AM   #892
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"Hitachi in at Manchester One"...

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Hitachi Consulting, the strategic business consultancy division of tech giant Hitachi, has taken a 6,000 sq ft office within Bruntwood's Manchester One in Portland Street.

The deal follows Hitachi's move at the end of last year to its new laboratory within the Bruntwood-owned Citylabs site in the Oxford Road corridor.

The 21-storey Manchester One totals 143,000 sq ft, with 4,200 sq ft currently vacant on the top floor.

Quoting rent in the tower begins at £18.50/sq ft.

Brad Topps, head of sales at Bruntwood, said: "Hitachi Consulting is the latest in a long string of new occupiers moving to Manchester One. We put a clear asset management strategy in place at the start of the year and it's great to it coming to fruition for our customer.

"We have welcomed over 30,000 sq ft of occupiers to the building in the last 12 months including Siemens and Greystar."
- See more at: http://www.placenorthwest.co.uk
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Old May 19th, 2015, 02:17 PM   #893
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X1 MediaCity
Apartments | Michigan Avenue, Salford

Floors: 4x26 | Number of Apartments: 1,036 | Developer: X1

Current Status: Site prep

Thread: http://www.skyscrapercity.com/showth...=403150&page=8









Not the most exciting construction picture ever on a dreary day, but it does look as though site preparation has begun for X1 MediaCity. Pic by Marni1971:

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Old May 19th, 2015, 07:34 PM   #894
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No 1 Spinningfields | 91m | 19 fl | Demo...

Coming down nicely..

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There'll be nothing left of that middle wing soon... 2pm, 19/05/2015

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Old May 19th, 2015, 08:01 PM   #895
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Manchester really is looking up, I must say as a Brit I am rather proud of this city for what it is becoming (even if I live in Bristol).

One thing I would say is that although I am quite fond of the proposal for 2 St. Peter's Square, it is a huge shame that they demolished that lovely old building. Would have been nice to see them somehow incorporate it into the new design, similar to the Hearst Tower in NYC, just on a much smaller scale.
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Old May 20th, 2015, 01:29 PM   #896
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Jodrell Bank Update...

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http://www.manchesterconfidential.co...ritage-winners

Jodrell Bank Among £98m Lottery Heritage Winners

Cheshire observatory secures £12m in Lottery cash

IT's been a bumper month for the University of Manchester's Jodrell Bank observatory.

Only weeks after the facility in Cheshire beat off competition from Italy to become the new HQ of the world's biggest telescope, comes the news that the observatory is one of nine UK heritage sites to bag a chunk of £98m worth of Lottery cash.

Jodrell Bank - home to the Grade-I listed Lovell telescope - will receive one of the largest amounts (£12.1m) for the 'First Light' project.

The project aims to create a 'spectacular' new visitor space and restore the heritage of the site - the only place in the world to show the whole history of the development of radio astronomy.

TV presenter and University of Manchester Physicist, Professor Brian Cox, is chuffed with the announcement: “The rich scientific history of the UK is a key part of our culture and Jodrell Bank is the stand-out icon of UK science and engineering.

"When I was young, visiting Jodrell Bank was one of the things that inspired me to become a scientist. This new project will inspire many more young people to carry on our great tradition of science and engineering.”

Other UK heritage sites to receive Lottery money are: London's Science Museum (£8m), The British Library (£9.6m), Derby's Silk Mill (£9.3m), The Great Central Railway in Leicestershire (£10m), Dorset County Museum (£10.4m), Lincoln Cathedral (£12.4m), The Burrell Collection in Glasgow (£15m) and The Geffrye Museum in London (£11m).

jodrellbank.net
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Old May 20th, 2015, 02:01 PM   #897
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Angel Gardens
Apartments | Midtown

Floors: 33 | Number of Apartments: 450 | Developer: Caddick & Genr8

Current Status: Site clearance

Thread: http://www.skyscrapercity.com/showthread.php?t=1779918








Starting construction? Picture by Accura:

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Old May 21st, 2015, 02:06 PM   #898
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^ This is quite some development...will the top floor be Penthouses or gym?
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Old May 21st, 2015, 03:13 PM   #899
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^ This is quite some development...will the top floor be Penthouses or gym?
Not sure mate... I'm going to assume a penthouse though.
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Old May 21st, 2015, 06:07 PM   #900
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Angel Gardens is going to look fantastic! Brilliant updates guys, seriously impressive to see the amount going on in MCR at the moment.

St.Peter's Square is going to be outstanding. Although I agree with someone above who mentioned incorporating the old building, but this is going to be a fantastic looking City Square.
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