Vita Group acquires First Street plot to deliver its House of Social scheme

27/9/23

Vita Group, the Alderley Edge-based urban regeneration specialist, has acquired plot 10 at Manchester city centre's First Street Estate, from developer, Ask Real Estate, for an undisclosed sum.

It follows Vita's recently successful planning application to develop its first House of Social residence at the site.

House of Social is the student house re-imagined. Designed for second- and third-year students who have established friendship groups, each 'House' is centred around an open plan kitchen and lounge space, designed to bring housemates together with large ensuite bedrooms on either side.

Each room has been carefully designed to create the ultimate student room, including both casual relaxation space and a more formal study space with plenty of storage and its own en-suite bathroom.

In total, the First Street residence will have 100 cluster apartments with 576 student bedrooms split across a mixture of five and six bedroom 'houses'. Residents will also benefit from a plethora of amenities including a state-of-the-art gym and co-working space.

On the ground floor, the building will be brought to life with a vibrant food hall which will be open to residents and the general public. Featuring a central bar which will provide a focal point, the food hall will create approximately 400 covers, with five independent kitchens bringing forward some of the city's most exciting new food concepts.

Mark Oakes, Vita Group chief commercial officer, said: "First Street is one of the city's most exciting destinations with huge investment going into the redevelopment of the area. House of Social will complement this vibrant neighbourhood, adding to the great offering which already exists."

John Hughes, Ask Real Estate managing director, said: "Plot 10 and Vita Group's House of Social concept will play a pivotal role in accelerating the completion of the First Street masterplan – adding to the neighbourhood, creating a vibrant place for people to visit and stay. It's great to finalise this deal and further build upon our relationship with Vita Group."

Long standing advisors to Vita Group, Shoosmiths, was the law firm which advised on the deal. Vanessa Rickard, legal director at Shoosmiths, said: "The Shoosmiths real estate team has supported Vita Group over many years and we are proud to have advised on this latest land deal, with the transaction not only kick-starting development, but also signifying the start of the legacy House of Social will leave in Manchester."

Source: The Business Desk