Britannia secures £10m for Daisy Bank Park
The property development and investment company has the finance it needs to progress its 72-home project on the site of a former probation centre in South Manchester.
Specialist lender Together is providing most of the funding in the form of a £9.5m development loan, while a further £650,000 has been sourced through the Greater Manchester Combined Authority’s Brownfield Housing Fund.
Britannia has already begun the enabling works at the site off Daisy Bank Road, Victoria Park, with main contractor Short Construction expected to start later this month.
The first homes are due for completion by the summer of next year, with a portion being made available to key workers at 80% of the market value.
Nick Carter, development director, Britannia Group said: “Securing the funding from GMCA and Together is a significant step forward for us as we look to deliver Daisy Bank Park, transforming a run-down brownfield site into much needed new homes, 12 of which will be available to key workers at 80% of market value.”
Ian Pickering, Together’s director of development funding, added: “Daisy Bank Park will provide the local area with much needed housing, and we are delighted to be able to support Britannia with the development.
“Many factors have contributed to a growing shortage in the number of homes all over the country; such as supply shortages and rising costs of development. At Together, we believe that the key to addressing the country’s housing crisis can lie with SME developers.
“We recently announced the launch of a new £150m development finance fund, which will support SME developers to deliver thousands of building projects across the UK. Daisy Bank Park is one such exciting project that will benefit greatly from this fund, and we look forward to seeing the development as it continues over the coming year.”
The development will see an apartment block built on the corner of Daisy Bank Road and Laindon Road, with townhouses to the west of the 1.6-acre site.
There will be 23 one-bedroom flats and 14 with two bedrooms in the main apartment block while the others will be 15 three-bed and 15 four-bed townhouses, two one-bed and a couple of two-bed flats, and a six-bed house.
Cllr Ged Cooney, GMCA portfolio lead for housing, said: “Through the Brownfield Housing Fund we are continuing to unlock sites across Greater Manchester. It’s great to see work begin on another project that will deliver much-needed homes in an area where there is high demand.”
The project team for the development includes Roger Hannah, Ollier Smurthwaite Architects, Avison Young, Trevor Bridge Associates, Curtins, The LK Group, BWB, Crookes Walker Consulting, OFR Consultants, Hann Tucker, and GIA.
To view the plans, search for reference number 135848/FO/2022 on Manchester City Council’s planning portal.
