A £16 million return to Ancoats

A North West developer continues its multi-million pound investment in and around Manchester's Ancoats district with the acquisition of land on Great Ancoats Street.

SPACE Developments will redevelop the 1.25 acres site into 99 superb one, two and three-bedroom apartments, with a finished value of more than £16 million.

The city-specialist developer is no stranger to Manchester after its seventh bespoke residential venture, Sharp Street, sold out in June of this year. The new acquisition in Ancoats reinforces its confidence in Manchester's continued residential, economic and cultural boom.

Eoin O'Donnell, Managing Director for SPACE Developments, says: "We're very excited about returning to Manchester for the eighth time and particularly about returning to the Ancoats district. We've already had phenomenal success with our ventures close to this vibrant and thriving extension to the regions capital.

"Construction of the new development is due to start in Autumn 2007 and the first completions are expected in the first quarter of 2009. We plan to create a landmark building with a striking architectural frontage that curves with the sweep of Great Ancoats Road".

Historically the acquired land was a 19th Century industrial hub with a lime works, pit and kiln, which was surrounded by cotton mills, the Vulcan Iron Works, grain stores and workhouses. The former industrial buildings were demolished in 2003 and the land has remained derelict ever since.

Ancoats itself once boasted a thriving cotton industry and is often referred to as the world's first industrial suburb. These days it has undergone an extensive regeneration programme to create an exciting urban village, while much of its architectural history is now protected within a 50-acre conservation area. Like the rest of Manchester, the district has had great success in mixing contemporary architecture with existing historical buildings.

Ancoats proximity to the city centre means it benefits from Manchester's superb shopping experience and vibrant cultural life, as well as the Northern Quarter with its rich bohemian atmosphere. Only a ten minute walk from Piccadilly train station and situated directly on the inner ring road, it is perfect for commuting out of town as well as those coming in.