Fred Done puts £185m on St Michaels

The BetFred billionaire has agreed to provide development finance to the joint venture between Salboy and Gary Neville’s Relentless Group, paving the way for the Marriott brand W Residences to makes its Manchester debut.

Fred Done Property Trading Group will fund the 41-storey apartment and hotel tower at the Jackson’s Row and Bootle Street site between Deansgate and Albert Square.

Simon Ismail, MD of Salboy, said: “Our joint venture with Relentless Group will culminate in one of the most ambitious and agenda-setting developments in central Manchester for years, and this investment demonstrates continued commitment from one of our longest and most committed supporters of Salboy schemes.”

Relentless and Salboy formed their JV in 2022. Construction is ongoing with Domis as the lead contractor. The architect is Hodder + Partners. The tower will contain a 162-room W Hotel and more than 200 apartments for sale, priced from £350,000 to £6m.

The first phase, on site with contractor Bowmer+Kirkland, is due to contain 180,000 sq ft of offices. Prelets have been agreed with law firms Hill Dickinson and Pinsent Masons.

W Residences is present in London’s Leicester Square. St Michaels will be its first project outside the capital.

Completion of phase two is due in 2027.