'Twin boon' apartment block finished as Ancoats gets much needed affordable homes

Ancoats is set to welcome a new block of flats where more than half of the apartments are affordable.

Islington Wharf, on the corner of Great Ancoats Street and Old Mill Street, completed construction last week. The £34 million development has 106 flats, and 54 of those are available for affordable sale on a shared ownership basis.

A Sainsbury’s Local store is also set to open at the bottom of the building, which has been built by Waterside Places Ltd – a joint venture between Muse and the Canal and River Trust.

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Apartments start at £80,850 for a 35 percent share of a flat valued at £231,000 full price, requiring a five percent deposit of £4,043.

The project is a ‘twin boon’, according to Coun Gavin White, Manchester City Council’s executive member for housing and development. He said: “We know that demand for quality affordable housing is high in Manchester and through our ambitious housing strategy not only have we committed to delivering 10,000 affordable homes over the next decade, but we have also pledged to support more Manchester people onto the housing ladder and into their own property.

“This development is therefore a twin boon for our city centre and we welcome the drive from our housing partners to help deliver the homes our residents need.”

Ancoats has been transformed from derelict mills into one of the world’s most desirable neighbourhoods over the last two decades, with more new homes expected to be built in the vicinity soon. Some of those will also be affordable housing.

The flagship affordable housing project in the area is spearheaded by This City, the city council’s own development firm. It is