NatWest funding helps Lightbox to shine


NatWest funding helps Lightbox to shine

Plans to develop 238 new homes at Manchester’s MediaCityUK have taken a major step forward, following a £28.6m finance deal with NatWest.

The Lightbox residential scheme will include one, two and three-bed apartments across a 19-storey building overlooking the Manchester Ship Canal. Plans also include a full concierge service, car parking spaces and bike storage for residents.

The £28.6m finance deal with NatWest will be supported by a further £8.2m from the Greater Manchester Housing Fund to provide additional mezzanine facilities. Construction is expected to start in spring 2017, and is planned for completion in 2019.

Lightbox is part of plans for phase two of MediaCityUK’s £1bn development programme which will feature 540,000 sq. ft. of offices, 1,800 apartments and new retail and leisure areas.

MediaCityUK is a joint venture between Peel Media and Legal and General Capital.

Managing Director, Stephen Wild, said: “This is an important step towards bringing Lightbox to MediaCityUK which has already proven to be a popular development since we took it to market in May 2016.

“Our plans to double in size over the next 10 years include more hotels, bars and restaurants, as well as an increased focus on high quality places to live, so Lightbox will bring an exciting, luxury dimension to the diverse residential offering here.”

NatWest’s Head of Real Estate Finance, North West England, Heath Thomas, said: “MediaCityUK is creating a fantastic development which will enhance the local area and it is already attracting interest from potential investors and homebuyers.”

Find out more about MediaCityUK by visiting the MediaCityUK website.

Related articles

How NatWest helped Scribbler move to the forefront of the greeting cards market

Greetings cards are big business. Find out how NatWest has helped card company Scribbler navigate through this busy market.

Manchester entrepreneur launches new app and gives shares to first 5000 users

NatWest and Entrepreneurial Spark ‘chiclet’ launches app to help young people find the right job.

Latest news

RBS to help 2.5 million people each year to be more financially capable

RBS has today committed to helping 2.5 million people in the UK each year to improve their financial capability.

RBS to increase lending to sustainable energy sector following £1.1bn securitisation of loans to UK sustainable energy market

RBS has executed a £1.1bn securitisation deal with Macquarie Infrastructure Debt Investment Solutions (MIDIS), which will allow the bank to recycle capital and increase lending to the sustainable or renewable energy sectors.

RBS launches £1 billion Female Entrepreneurship Funding and announces targets to help create at least 50k new businesses by 2023

RBS has today announced a new £1 billion in funding through NatWest to support female entrepreneurs in the UK to scale and grow – the largest intervention by a UK lender focused specifically on female-led businesses.

Set Tab for lightbox