McLaren Property’s £160m plan to deliver 737 student beds on Manchester’s Upper Brook Street has surged ahead after the developer sealed a major forward-funding deal with L&G.

The agreement allows McLaren Construction to move to full construction on the next phase of the £450m masterplan transforming the Oxford Road Corridor.

Rising to 9 and 23 storeys, the 273,000 sq ft development will pack in 288 studios and 449 cluster rooms, backed by a community hub, café, landscaped public realm and top-tier sustainability targets including BREEAM Excellent, EPC A and Platinum WiredScore.

The deal marks the fourth asset for L&G’s fast-growing Student Living Platform – and its first forward-funded purpose built student accommodation project since launch last year.

McLaren divisional managing director David Atherton said: “This is a hugely positive outcome and demonstrates the availability of institutional capital for high quality student led assets, in prime locations.

“With the associated sci tech floorspace now also under construction next door, we are fully on track to deliver positive change, help drive economic growth, through private investment and without the need for public funds.”

The PBSA twin-towers are due to complete in 2028 ready for the 2028/29 academic year.