Tudor House, Chapel Walks
Manchester crowdfunding platform The House Crowd Group has acquired the historic 5-17 Chapel Walks buildings.
Casabel Property Consultants acted on behalf of Housecrowd to acquire the buildings from a fund managed by nationwide industrial developer and asset manager Chancerygate.
As part of the deal, 16 apartments will be built at the site in a stunning scheme designed by Calderpeel Architects.
Funds totalling about £2.5m for the purchase and initial development were raised by The House Crowd Group through its innovative property crowdfunding platform. Work is expected to start onsite in the spring of 2019.
Chancerygate asset manager Simon Barrs said: "We are very pleased to secure the sale of a long leasehold interest of these three properties.
"We look forward to working with The House Crowd Group team as they bring this exciting development project to fruition.
Principal at Casabel, Justin Rouse added: "The development of 5-17 Chapel Walks will bring much needed new apartments to a highly desirable location in central Manchester, close to both the transport centres of Victoria and Piccadilly Stations and the retail heart of the city.
"The scheme will be a key driver in the future regeneration of this part of the city, which is becoming one of the most desirable residential locations in central Manchester."
The House Crowd Group was advised on the acquisition by Casabel Property Consultants and Chancerygate were represented by the Manchester office of Savills.
Old Half Moon Chambers, Chapel Walks
