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PRIVACY
Commercial Property

Deal for final phase of 拢190m Manchester city centre scheme signed

This £60m phase will see a 150,000 sq ft, eight-storey office building delivered

New Victoria's commercial phase

A deal to bring forward the second and final phase of a £190m Manchester city centre development has been signed.

Muse Developments and Morgan Capital have announced the deal for the scheme at New Victoria.

This £60m phase will see a 150,000 sq ft, eight-storey office building delivered.

Morgan Capital is a real estate operating partner, with a current portfolio value of £500m, that acquires, develops and asset manages best-in-class commercial properties with investor partners.

In 2020, during the first lockdown, Muse announced a £130m deal with Pension Insurance Corporation to fund and operate the 450,000 sq ft residential phase of the scheme, which once complete in 2024, will deliver 520 homes across two 20 and 25-storey buildings respectively.

David Burkinshaw, development director at Muse, said: "Hot on the heels of the £130m deal with PIC to deliver the residential phase, we’re proud to sign with Morgan Capital, who will deliver and own the commercial phase.

"This deal also represents another ringing endorsement of what we’ve achieved at New Victoria and in Manchester.