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Albany Assets Buy Crown Tower Site

Albany Assets planned residential Crown Tower in Manchester has taken a big step towards realisation with the announcement that the developer, Albany Assets has secured the site they wish to build on for an undisclosed sum.

Bounded by Aytoun and Auburn Streets, the 131 metre tall tower will contain 237 apartments, there will also be an attached 10 floor block next door that will house office space of about 13,000 square metres.

The project has been designed by prolific Manchester practise, Ian Simpson Architects who have designed a slab, not dissimilar in massing to the under construction Beetham tower, except for the missing cantilever that juts out around the sky bar level of the latter.

With traditional blue-green Simpsonesque cladding of vertical strips running up the main faces of the building, a riot of coloured striped cladding on the lower levels to create a separate visual plane from the street, and the almost too thin profile of the tower the design is typical Simpson.

Albany hope however that the magic that worked on Beetham's tower can work for them too and that this scheme can propel them into the big league - the company was only formed in 2004 by Christian Nisbet, Steve Moule and John Mason who have gambled big that the demand for high-rise living is insatiable in Manchester.

Their only previous project is the historical Albany Building in Liverpool which they have been named after, and with a scant development sheet apart from the tower it is literally a make or break scheme for them.

The likely business plan for a highly speculative scheme such as this is that now that they have a site secured along with planning permission they can market the apartments. Assuming the sums are right for construction costs and they can sell them at the right level the pre-sales of the development (60%+) should be enough to secure substantial funding from financial institutions to allow the project to begin construction.

Before they can progress any further however, they need a name for the project as it is yet to be officially labelled. Demolition meanwhile, is due to start in March 2006 although construction is unlikely to start until a vast chunk of the accommodation inside the tower is actually sold.

Article Related buildings:

Crown Building

Crown Building
Beetham Tower Manchester

Beetham Tower Manchester
Great Northern Tower

Great Northern Tower
Albany Assets Crown Tower Manchester
Albany Assets Crown Tower Manchester