HCA funding enables completion of Nuovo scheme

A landmark Ancoats building project which had stalled on a number of occasions has finally been completed, after it was provided with £6 million of funding by the Homes and Communities Agency (HCA) via a loan from the Get Britain Building programme.

Nuovo Apartments, a mixed-use scheme featuring 166 homes and ground floor commercial office units, is located on the edge of the resurgent Ancoats district, within walking distance of the Northern Quarter and Manchester city centre. Forty of the homes will be offered as affordable housing and 126 will be sold privately, with prices starting from £117,500.

The scheme is in an area currently being transformed by the work of the Manchester Place partnership between the HCA and Manchester City Council. This unique framework enables both parties to undertake the key activity needed to bring developments forward, including strategic land assembly, remediation, infrastructure, accelerating market-ready opportunities and place-making.

Deborah McLaughlin, the HCA’s executive director for the North West, said: "It is great to see that Nuovo has been completed, after many years of hard work. It's an extremely important scheme, and is a prime example of the positive outcomes that the HCA’s funding and support can deliver."

Simon Parker, managing director of developers UK Land & Property, said: “We are delighted to be launching this high-quality development at a time when Manchester is enjoying a renewed period of growth and ambition in the residential sector.”

Louise Emmott, associate director at marketers JLL, said: “Nuovo will give the city a much-needed injection of housing stock. We’ve had over 200 people register their interest, and given the current shortage of homes on the market, we expect these to be particularly popular with people looking for well-located, high-quality apartments.”