The first phase of a £750m development on Oxford Road’s former BBC site has been given the go-ahead, with construction due to start this month.
Circle Square – a ten year, five phase development comprising of residential, retail and office space – will now begin to take shape despite numerous objections at Thursday’s planning meeting.
Phase 1a will see two buildings, one 12 storeys high and one ranging between 13 and 17, next to the River Medlock offer over 700 flats designed to appeal to postgraduate and international students.
Bruntwood and Select Property Group will head up the project in a joint venture, while the student flats will be owned by Vita Student whose First Street site is one of the most luxurious in the UK.
Further Circle Square phases will see the construction of commercial buildings, a hotel, a multi-storey car park as well as a ‘public realm’ at its heart.
The BBC relocated to MediaCity UK in Salford Quays in 2011, and Circle Square was used as a car park from then up until summer 2015.
Select Property Group CEO Mark Stott said: “We are looking forward to expanding our award-winning Vita Student offering to a second Manchester site, which will be ready for the September 2017 academic year.
“Securing approval for the first phase is a significant part of our vision to create a new neighbourhood for the city, which will be complemented by future phases.”
Chris Oglesby, CEO at Bruntwood, added “Circle Square offers an unmatched location, state-of-the-art facilities and superb outdoor spaces for the unique and diverse variety of people who will be living and working there.”
New apartments were also approved on Princess Street on the corner of the gay village, meaning further property springing up as Manchester’s widespread redevelopment continues.
George Osborne’s ‘Northern Powerhouse’ has been tipped as a reason for increasing developments, with property prices up 9% – £15,000 – in the last 12 months.