Former Manchester United players strike deal with Asian investors on city development

Former Manchester United players Gary Neville and Ryan Giggs, along with Manchester City Council, have signed a funding agreement with Singapore-based Rowsley Ltd over the new St Michael’s Manchester development.

The deal, struck with the local authority and the Jackson’s Row Development Partnership, which comprises the two former footballers and entrepreneur Brendan Flood, will see Rowsley Ltd own a majority share in the investment. Chinese state-owned Beijing Construction and Engineering Group (BCEG) is also involved in the deal.

The Singaporean firm’s CEO, Lock Wai Han, said of the agreement: “We are excited to be in Manchester and to tap into its vibrancy and growth. Gary and his team exemplify the dynamism of the city and the City Council, and it’s a style of working we are very comfortable with in Singapore.

“St Michael’s will become a landmark development and will meet the growing demand for quality accommodation and offices in Manchester.”

He added: “This will be Rowsley’s first investment in Europe and comes at a time when the UK government is encouraging businesses to move north to escape the rising cost of operating in London.”

Located between Bootle Street, Jackson’s Row and Southmill Street, St Michael’s Manchester is being established to link economically strategic sites from Manchester Town Hall through to Deansgate.

Gary Neville said of the new deal: “This represents a very important milestone for the development of St Michael’s. To secure funding for the project this early in the process is a fantastic achievement and demonstrates great confidence in the city.

“Moving swiftly is key and huge credit goes to Rowsley and BCEG for their committed approach in the last two months.”

Gary continued: “We are all truly excited at what can be achieved with this innovative and inspiring development.”