RG Group is main contractor on Round Hill Capital and Olympian Homes’ £165m project, which will offer close to 500 apartments in towers of 29 and 23 storeys.

The scheme has reached the highest point of construction eight weeks ahead of schedule.

Acquired via a forward-funding agreement in August 2022 when investor Round Hill announced a partnership with Olympian, the development totals 488 one-and-two-bed apartments across the pair of buildings.

Amenities will include a gym, 24-hour concierge, co-working space and roof terrace with panoramic views of the city skyline. Due to achieve practical completion in early 2026, the asset will be operated by Round Hill Capital and Allsop.

Olympian had established consent in early 2021.

The intention is that the development will serve as the gateway to the Portugal Street East masterplan regeneration area amid the wave of residential-led redevelopment going on around Piccadilly. BREEAM Very Good certification is the aim.

In 2024, Round Hill Capital secured a £115m development loan from global investment firm Carlyle to fund the construction of Fairfax.

Tom France, head of acquisitions UK at Round Hill Capital, said: “Fairfax is our prime, flagship UK build-to-rent development, and just one example of the high quality, sustainable homes in our established pan-European Living platform.

“Reaching the highest point in the construction ahead of schedule is a fantastic achievement and testament to the collaborative efforts of everyone involved in the project.”

France said that housing supply is still not meeting demand in Manchester, stating that “Manchester is a sought-after location in the UK, attracting young professionals and students and where technology, engineering, manufacturing and pharmaceutical businesses are thriving, creating a huge investment opportunity”.

The scheme is the work of executive design architect Jon Matthews Architects and delivery architect Day Architectural.