Caddick and Generate joint venture to develop NOMA residential site
A joint venture (JV) between Caddick Group Plc and Generate Land is exchanging contracts with The Co-operative Group to develop the residential scheme within the 20 acre NOMA masterplan in central Manchester.
The JV – Moda Living – has announced plans for circa 450, one, two and three bed apartments on the corner of Miller Street and Rochdale Road in the city centre. Whilst plans are still being formulated, the intention is for ground floor retail - including cafes, bars and ancillary shops - around a communal garden with high quality rented accommodation above in a 30 storey landmark tower, as well as access to a sky lounge and roof terraces.
There will be an on-site management team with 24 hour concierge and a host of other tenant services, from electric car club to resident meeting spaces, cinema lounge and fitness facilities.
Tony Brooks, Director of Moda Living, said:
“We believe that this is the best residential site in the UK outside of London and the perfect opportunity to launch our brand, which we intend to make the new benchmark for the regional private rented sector (PRS) and the flagship project for Moda Living.
“The next stages are for us to work closely with residents, local businesses and Manchester City Council to ensure that the scheme is of maximum benefit to the city.”
David Pringle, a Director at The Co-operative Group, said:
“Developing homes within NOMA is vital to the vibrancy of the area and is completely aligned with our strategy. We want people to live here, work here and come here to shop and be entertained, so having people at the heart of the development is integral.”
Johnny Caddick, Director of Moda Living, said:
“Moda Living will be the market leader for high end, purpose built, city centre rental accommodation outside of the capital. We have over 1,300 units already under control and we are creating a large scale, regional development portfolio targeted at the newly emerging PRS. Our primary targets include Manchester, Liverpool, Leeds, Birmingham, Edinburgh and Glasgow. Moda Living is actively acquiring sites that can accommodate upwards of 100 units.”
The first designs for the development will be available for public consultation next week, and early summer 2015 is the current target for start on site with the first properties ready for occupation in 2017.
The public exhibitions for the new development will take place on Wednesday 16 and 23 July, between 3:30pm - 8pm, at the Centre for Contemporary Chinese Art on Thomas Street, Manchester.