Balfour Beatty and AIG Global Real Estate have completed a funding deal for a 274-home build-to-rent (BTR) development in Manchester’s New Cross.
The close of the deal sees AIG take full ownership of the land opposite the Wing Yip supermarket on Oldham Road which will become home to a major BTR scheme with a gross development value of £65m. Construction has now begun on ‘The Lancastrian’ with residents expected to move in to a range of one, two and three-bedroom rental apartments during the summer of 2020.
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