NatWest strikes £28m deal to fund MediaCityUK Manchester apartments

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  • 20/04/2017
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NatWest strikes £28m deal to fund MediaCityUK Manchester apartments
A major residential development at Manchester’s MediaCity has moved a step closer after a £28.6m funding deal agreed with NatWest.

The bank’s funding – supported by a further £8.2m from Greater Manchester Housing Fund – will see the development of 238 homes as part of the Lightbox residential scheme.

Lightbox is part of plans for phase two of MediaCityUK’s £1bn development programme which will feature 540,000 sq. ft. of offices, 1,800 apartments and new retail and leisure areas.

Stephen Wild, managing director, MediaCityUK said: “This is an important step towards bringing Lightbox to MediaCityUK which has already proven to be a popular development since we took it to market in May 2016.

“Our plans to double in size over the next 10 years include more hotels, bars and restaurants, as well as an increased focus on high quality places to live, so Lightbox will bring an exciting, luxury dimension to the diverse residential offering here.”

Heath Thomas, NatWest’s head of real estate finance, North West England, said the scheme would “enhance the local area” and is already attracting interest from potential buyers.

 

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