McLaren seals £160m funding for Manchester student tower
AI Article Summary
McLaren Property has secured £160m in funding from L&G to develop 737 student beds on Manchester’s Upper Brook Street, part of a larger £450m masterplan for the Oxford Road Corridor. The project includes two towers of 9 and 23 storeys housing studios and cluster rooms, aiming for high sustainability standards. This marks L&G's first forward-funded student accommodation project within its Student Living Platform, with completion anticipated by the 2028/29 academic year.
What This Means for Canadian Contractors
This project shows how strategic funding and private investment can drive large-scale student accommodation projects in major cities, a trend which could be mirrored in Canadian university towns. For Canadian builders, this means opportunities to engage in similar projects might increase, fostering partnerships with institutional investors who may be interested in supporting high-quality, sustainable construction to meet student demand.
