A £150 million funding package for a mixed-use redevelopment on the site of the former Manchester Metropolitan University Campus near Piccadilly Station has been announced.
The scheme, a joint venture between Capital & Centric and Henry Boot Developments, includes one of the biggest private residential developments in the UK alongside a hotel and retail units.
It is understood that the developer has secured a funding agreement for the project with Ares, a multi-billion dollar American fund.
Kampus will include the conversion of a number of listed mills which alongside new buildings will create around 500,000 sq ft of space.
The 500 residential apartments at Kampus will be joined by a number of public and private gardens, restaurants and retail units which will link the eastern end of Canal Street with Piccadilly and the London Road Fire Station.
The developers received outline planning permission in the form of a strategic regeneration framework in June 2015 and it is understood that a detailed planning application will be submitted shortly.
Henry Boot Developments is known for developing The Courthouse, a leisure scheme on Deansgate whilst Capital & Centric is linked to the £25 million Littlewoods Film Studio scheme as well as being responsible for Liverpool’s Tempest office building which opened last year.