EY appointed as financial advisor to Victoria North regeneration programme

The consortium running the Victoria North regeneration programme has appointed EY to the project. The Big Four firm will serve as a financial advisor to the programme, which pledges to sustainably generate new living spaces in Manchester.

Based in Manchester, Victoria North is one of the UK’s largest and most ambitious regeneration projects. Over the coming two decades, it will deliver 15,000 homes north-east of Manchester city centre, create seven new and distinct neighbourhoods on largely under-utilised and brownfield land, and grow the population by 40,000 people.

The council is working in a joint venture with Far East Consortium (FEC). The project will create better-connected public spaces and new and improved transport links. At the heart of the regeneration is also City River Park, with 46 hectares of new and improved parkland. The park will have a variety of character areas including smaller parks and green spaces. It will enhance existing wildlife habitats and create new ones – using climate positive design to be as carbon neutral as possible.

Amid the wide ranging plans, EY has been appointed to help provide financial advise to the regeneration programme. Working in partnership with Manchester City Council and Far East Consortium (FEC) along with other key stakeholders such as Greater Manchester Combined Authority, Transport for Greater Manchester, Ministry of Housing, Communities and Local Government and Homes England.

Marcus Richards, a partner in corporate finance at EY, commented, “EY are proud to be appointed as financial advisor to the Victoria North regeneration programme. It is great example of the transformative impact that local government, central government and the private sector working in partnership can have on the world around us.”