Central Manchester scheme set to start on site early next year

Dev Secs Axis Tower

Development Securities’ 27-storey Axis Tower in central Manchester has been granted planning permission by the city council.

The £40m residential scheme, which has been developed in a joint venture with Property Alliance Group, will occupy a vacant site close to the city’s retail areas and both Manchester and Manchester Metropolitan University.

A start on site is planned for early 2015 and completion is scheduled for the fourth quarter of 2016.

Development Securities said that half the units were already reserved.

Matthew Weiner, director of Development Securities, said the scheme would be “an iconic new residential building in the heart of Manchester”.

He added: “The joint venture between Property Alliance Group and ourselves represents a powerful partnership, with extensive experience of the Manchester property market and a strong track record in delivering high quality developments that create vibrant new neighbourhoods.”