HONG KONG, Aug. 5, 2016 /PRNewswire/ -- Far East Consortium International Limited ("FEC" or the "Group"; SEHK: 35) is delighted to announce that the Group was appointed as the developer for a prime residential site located near Victoria Station at Manchester, the United Kingdom, by Manchester Place and The Co-operative Group. FEC intends to deliver more than 600 new homes as part of the NOMA neighbourhood and reinvigorate the historic Angel Meadow Park. Totalling approximately 9,591 square metres across four individual sites, the new homes will be available for both sale and rent and will include a landmark tower.
NOMA has been identified by Manchester Place as one of the major residential growth areas for Manchester, the United Kingdom. NOMA is a key city centre location and the Angel Meadow plots mark the first phase of the Northern Gateway, a sweep of land from Victoria station north taking in New Cross, The Irk Valley and Collyhurst which in total has the potential for a new neighbourhood of 7,000 homes supported by social infrastructure.
FEC has built a diverse and widely-acclaimed property portfolio of quality residences in Australia, Mainland China, Hong Kong, Malaysia, Singapore and the United Kingdom, which has demonstrated its ability to develop, build and launch multiple large scale mixed-use developments across the region. The Group recently won planning consent for Alpha Square in London, a scheme that will deliver 700 apartments, a new school and new health hub, hotel and pocket square.
Mr. Chris Hoong, Managing Director of FEC said: "This is one of the most exciting residential opportunities not just in Manchester but in the UK. We are very honoured and excited to be working with NOMA and the City Council. We have assembled a team with the skills to deliver a new neighbourhood of international calibre and we would like this to be the start of a long relationship with the city. With international knowledge and local expertise to develop and deliver multi-billion mixed-use landmark products, such as West Side Place in Melbourne, The Towers at Elizabeth Quay in Perth, and Queen's Wharf integrated resorts in Brisbane, we are confident that this project will be another successful one to add to our international portfolio."
Sir Richard Leese, Leader of Manchester City Council welcomed FEC to the city and said: "This is exciting and positive news and we look forward to working with FEC to create new places to live. Manchester continues to grow at pace and we need more high quality homes to sustain that growth. I look forward to seeing detailed plans for homes for sale and rent and improved public realm around Angel Meadow itself."
Sir Howard Bernstein, Chief Executive of City Council and Co-Chair of Manchester Place said: "This is a powerful statement of FEC's confidence in us and our confidence in them."
Paul Beardmore, Chief Executive of Manchester Place said: "This is an important site that will help to unlock the potential of the Irk Valley and Collyhurst. We are delighted to have reached this stage and the scale of the investment conveys a strong message of confidence to the market."
Mr. David Pringle, Director of NOMA at The Co-operative Group said: "This is a great step forward for the second phase of residential development at NOMA. The Angel Meadow sites have the potential to redefine city centre living with the added benefit of being situated around a reinvigorated green park. NOMA will be providing an outstanding residential offer that supports our plans already underway to create a truly mixed use neighbourhood."
About Far East Consortium International Limited
Far East Consortium International Limited was listed on the Hong Kong Stock Exchange in 1972 (HKEx stock code: 35). The Group is mainly engaged in property development and investment, hotel operation and management, as well as car park and facilities management. The Group adopts diversified regional strategy and the "Chinese Wallet" strategy with business covering Hong Kong, Mainland China, Australia, Malaysia, Singapore, the United Kingdom and New Zealand.
NOMA is a 20-acre neighbourhood in Manchester city centre developing new homes, offices, hotels, retail and leisure space around vibrant urban spaces and public realm. NOMA is being delivered by the joint venture partnership of The Co-operative Group and Hermes Investment Management.
About Manchester Place
Manchester Place is a unique partnership between Manchester City Council and the Homes and Communities Agency formed to identify priority areas for housing of all tenures across the city. It works with landowners, developers and investors to bring forward residential schemes.
About The Co-operative Group
The Co-operative Group is a British consumer co-operative with a diverse family of retail businesses including food retail, electrical retail, financial services, insurance services, legal services and funeral care, with in excess of 4,500 locations. It is the largest consumer co-operative in the UK and owned by more than 8 million members.
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For further information, please contact:
Far East Consortium International Limited
Ms. Venus Zhao, Head of Investor Relations and Corporate Finance
Contact Number: +852-2850-0639
Wonderful Sky Financial Group
Ms. Alice Wang
Contact Number: +852-3970-2136
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SOURCE Far East Consortium International Limited