Property company Agecroft Investments has funded a £15m transformation of Edge Street to create a vibrant residential and business community at the heart of Manchester’s popular Northern Quarter.
The Cheshire-based property investor and developer will fulfil a long-term investment strategy to regenerate Edge Street this autumn with the completion of Bollin House, a six-storey new build consisting of ground floor retail premises and 14 luxury apartments on the upper five floors.
Agecroft made the decision to construct the building to meet rising demand from potential tenants after successfully letting all 31 apartments in its nearby Agecroft House.
The completion of Bollin House represents the culmination of Agecroft’s vision to transform Edge Street into an attractive destination offering a diverse mix of residents, retailers, restaurateurs and other businesses that reflect the creative and alternative theme of the Northern Quarter. It has owned certain properties on Edge Street for almost 50 years and ramped up its investment there over the past decade.
The residential offering complements Agecroft’s commitment to the provision of a wide range of restaurants by attracting vegan junk food diner V Revolution from nearby Oldham Street to join fried chicken specialist Yard and Coop and Parisien-style brasserie 63 Degrees.
These latest arrivals form part of an increasingly eclectic mix of food and drink providers including the recently renovated Common, Home Sweet Home, Luck Lust Liquor, Burn, Teacup Kitchen and Terrace.
Agecroft also moved to accommodate demand from creative businesses by providing meeting rooms at co-working space and coffee house Ziferblat and being involved with the creation of other modern office space. For example, office suites at 42 and 44 Edge Street are due to be redesigned by new tenant, architecture firm GA Studio.
This burgeoning community of independent businesses on Edge Street includes MadLab (Manchester Digital Laboratory), which was recently refurbished to provide a new shop front and a remodelled and refurbished interior.
Fraser Westbrook, managing director of Agecroft Investments, said: “We’re a genuinely long-term investor in Edge Street and the wider Northern Quarter having owned certain properties there for more than 50 years.
“Our strategic vision has allowed us to create a thriving and exciting community at the heart of the ongoing regeneration of the Northern Quarter as a hub for alternative culture including the music, fashion and creative industries.
“We’ll continue to show our commitment to the area’s immediate and longer term prospects with further financial investments.”
Agecroft’s long-standing presence in the Northern Quarter also includes ownership of the premises of Oi Polloi, Teacup, The Bay Horse, Marble and Terrace in Thomas Street and its next substantial investment there will be in numbers 52 and 28.
All Edge Street properties are managed on behalf of Agecroft by Manchester-based Scanlans Property Management.
Ian Stanistreet, partner at Scanlans Property Management, said: “The Northern Quarter is now firmly established as one of the most popular parts of Manchester and Edge Street is at the very heart of it.
“Scanlans have acted on behalf of Agecroft for over 25 years and have seen many changes in the area. These are exciting times for the Northern Quarter and we are delighted to have advised Agecroft throughout the investment programme”.
