Move unlocks Capital & Centric’s stalled 107-home Ferrous tower
A joint venture between Homes England, Capital & Centric and Swiss Life Asset Managers has acquired the stalled Ferrous block in Manchester, marking its first acquisition.
One member of the partnership, Capial & Centric, received planning approval for a scheme on the former industrial site on Chapeltown Street back in 2022, but progress subsequently stalled on the project.
The scheme can now move forward, having been acquired by the Impact & Places Partnership, using a share of its £860m fund for residential-led regeneration.
Ferrous, designed by architecture firm DB3 Group, will deliver 107 rental flats across 15 storeys with a rooftop terrace and two cafe-bars alongside two pocket parks and ‘The Cabin’ – a new venue for food residencies, pop-ups and events.
It forms part of Manchester’s wider Picadilly East regeneration programme, which also includes the council’s 1,400-home East Village Central scheme.
Construction is due to start by the end of the year, with the first homes expected to complete by mid to late 2028.
Established in November 2025, the Impact & Places Partnership brings together public and private funding and is expected to deliver more than 2,250 homes across the UK by 2028.
It is supported by Homes England’s new National Housing Bank, set up to deploy government funding to accelerate the delivery of housing and regeneration projects.
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