Former Manchester United Players Investing in Construction
Euro 1 Training strive to keep up to date with current events and news related to our industry, and it is with this in mind that we are pleased to inform you about an exciting £200 million development in Manchester’s Deansgate and Chinatown districts.
St Michael’s Manchester
Ex-Manchester United football players, Gary Neville and Ryan Giggs have teamed up with Singapore based company, Rowsley Ltd, to transform part of Deansgate into an area of offices, bars, restaurants, apartments and a five star hotel. The development will be named after the patron saint of police, St Michael (the Archangel). Also investing, is the Beijing Construction and Engineering Group, previous investors into the Manchester area in the form of £800 million Airport City, currently being constructed at Manchester Airport.
St Michael’s Manchester will cover a patch of land between Jackson’s Row, Bootle Street and Southmill Street, and it is hoped that the development will become a landmark development for Manchester and meet the growing demand for luxury accommodation and office space in the area.
This is to be Rowsley’s first investment in Europe, and the £40 million they’re investing appears to have been won by Prime Minister David Cameron’s recent visit to Singapore, in which he urged the company to make the most of the area which was ‘brimming with infrastructure opportunities’ and praised other real estate developments made by Neville and Giggs.
Hotel Football
Opening in March 2015 to rave reviews, Neville and Giggs’ other notable development is a hotel overlooking Manchester’s Old Trafford stadium, aptly named Hotel Football. The theme runs strongly throughout the hotel, with a 185-seat football-themed cafe and a rooftop football pitch, as well as being home to The Old Trafford Supporters’ Club (OTSC).
As part of the St Michael’s Manchester venture, Rowsley have acquired a 75% stake in Hotel Football, purchased for £30 million. Speaking of this development, Giggs disclosed that Rowsley’s investment was necessary to continue to expand and improve the venture, and went on to state: “Our vision will not change, the supporters are paramount and it is important to stress that the OTSC will continue to operate and run as it has, where fans from all over can continue to congregate before and after the match and enjoy the love of the game.’
The Future
It is hoped that the large cash injection into Manchester will help boost the city in the Northern Powerhouse agenda that is being pushed by chancellor and Tatton MP George Osbourne, whilst still maintaining the spirit and history of the city.
Here at Euro 1 Training, we’ll be keeping our eye on this exciting construction!
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