The Parklane Group has unveiled a new addition to its suite of brands, which will set out to transform a historical building in Manchester’s NOMA district as its first development. The Homezzz brand is focussed towards investors, who are looking to realise potential in the UK rental market at gateway city locations in the UK. The first scheme to be revealed will see the former Co-operative print works in Manchester transformed into more than sixty luxurious rental units, helping to reveal the former grandeur of this historic location.
The multi-million pound project, named The Press, which is located on New Mount Street in the NOMA district, will deliver 66 residential units of between one and three beds. It draws heavily on ‘New York Apartment’ stylings, and many of the building’s original features such as exposed brick and ironwork, high ceilings and large windows, will be brought to the fore as part of the redevelopment. The c50,000sq ft site will be delivered as part of a new Joint Venture between Homezzz and Salboy Ltd, with work due to commence on site early in the New Year.
Naveen Ahmed, Director of The Parklane Group, co-owner of the Homezzz brand, said:
“Our new Homezzz brand will help address the developing trends in UK housing, and bring a new dynamic to the UK’s gateway cities. Our plans for The Press have demonstrated this ambition and have so far received fantastic feedback. Through our investment, we will create a superb building, which will draw on the heritage of the site as a former print works, whilst creating a modern and vibrant living space, to service this part of the city. Manchester continues to perform exceptionally well, and this building is just a stone’s throw from major transport hubs, internationally renowned employers and vibrant culture.”
Javed Saddique Director at Homezzz said:
“Our team has developed detailed plans to transform this six-story building into a modern and stylish space, which will help to address the housing needs of a growing and successful city. We’ve worked alongside leading architects to develop what we believe will be a fantastic addition to the Manchester property scene and we look forward to progressing with construction works early in 2019. Units are already generating a lot of interest, and we’re confident this will prove to be a highly desirable location.”
Fred Done, founder of Betfred and co-owner of Salboy Ltd, paid tribute to the Joint Venture:
“I am extremely proud to be involved in this fantastic project. Being a local person, nothing pleases me more than seeing our historic buildings come back to life, indeed, it was one of the reasons we wanted to be involved in this development. We’re delighted to be working alongside Homezzz to deliver what I believe will be a truly exceptional scheme."
Simon Ismail of Salboy Ltd said:
“I’m delighted to be working alongside Homezzz to transform this building into something truly special. Developing this real estate will give the building a new lease of life and play in important role in helping to regenerate this part of the city. Recent work to improve the nearby railway station, as well as proximity to major employers such as The Co-op and the newly announced Amazon R&D centre, which is creating 600 new jobs, will make this an extremely attractive proposition to investors.”
The grade two listed building traces its history back to the 1870’s, when it was used as a print works for the Co-operative. During the 1990’s the building saw an incarnation as a crucial part of Manchester’s music scene, whereby both Oasis and James recorded early material at the site. Latterly, the space has been used as serviced offices.
Homezzz has been developed to address emerging trends in the property sector for private rental accommodation. Research suggests that, by 2035, more people are set to rent their properties, than own outright, and building like The Press will help address this demand.