Shoosmiths advises Vita on Manchester land deal for debut House of Social scheme

Shoosmiths has advised developer Vita Group on acquiring land to bring forward its debut House of Social student scheme on Manchester’s First Street.

The law firm acted on the acquisition of plot 10 from Ask Real Estate. This follows Vita’s successful planning application to develop its House of Social residence at the site.

The land deal paves the way for the development to begin, with the House of Social scheme set to feature 576 student beds over 14-storeys. The building will also have a ground floor communal food hall that is open to residents and the wider public.

Leading Shoosmiths’ deal team was legal director Vanessa Rickard, supported by associate Will Foster, Sam Jadhav (finance) and Alex Jones (planning).

Vanessa Rickard, legal director at Shoosmiths, said:

“The UK is facing a shortage of quality purpose-built student accommodation. Vita’s First Street House of Social scheme will help to boost the supply of accommodation in Manchester, while reenvisioning the approach to student development – blending city-living with commercial space, a state-of-the-art gym for residents and a communal food hall that is also open to the public. 

“Shoosmiths’ real estate team has supported Vita Group over many years. We are proud to have advised on this latest land deal, with the transaction not only kickstarting development, but also signifying the start of the legacy House of Social will leave in Manchester.”

Mark Oakes, Vita Group Chief Commercial Officer, said: 

“We are delighted to complete the deal with Ask Real Estate. 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.”

Vita Group’s proposed House of Social student scheme, Manchester’s First Street

Disclaimer

This information is for general information purposes only and does not constitute legal advice. It is recommended that specific professional advice is sought before acting on any of the information given. Please contact us for specific advice on your circumstances. © Shoosmiths LLP 2024.

 


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