New Northern Quarter landmark to be completed after £128million deal agreed

A new landmark building in Manchester's Northern Quarter is set to be completed after a major funding deal was agreed.

Select Property has secured a £128.5m development finance deal to bring forward its One Port Street scheme.

Once completed, One Port Street will feature 477 apartments as well as a 7th floor rooftop terrace and resident lounge overlooking the city.

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It will also include a 2,000 sq ft leisure suite featuring a private swimming pool and spa pool, a gym and separate fitness studio.

Maslow Capital has provided the new finance as groundwork on the development nears completion. The development is expected to open in 2025.

Select Property expects the development to create at least 59 jobs and an estimated economic impact of £29.07m to the city once completed.

The deal marks the second occasion Maslow Capital has supported Select Property, having previously funded the development of CitySuites II.

Adam Price, CEO of Select Property, said: "Significant appetite from investors and funders alike is testament to the strength of the opportunity promised by One Port Street, and to our team’s track record of developing and operating successful residences in Manchester.

"The residence will deliver the very best of city centre living, with luxury amenities and a stunning contemporary design throughout the apartments and communal spaces.

"With Maslow Capital at our side once again, One Port Street will bring forward a new neighbourhood that will connect the Northern Quarter with Ancoats - two of the UK’s most thriving places to live – and will deliver a lasting multi-million-pound boost to the city’s economy."

Matt