A new collection of Shared Ownership homes has launched at Victoria Riverside, with deposits starting from £6,188 for a one-bedroom apartment.
Delivered by L&Q, the 18-storey development in Red Bank will offer 128 one and two-bedroom apartments as part of the wider Victoria North regeneration project. The homes are expected to be ready to move into in early 2026, with reservations now open on selected apartments.
Red Bank sits on the edge of Manchester city centre and forms part of Victoria North, a £4bn regeneration scheme led by FEC and Manchester City Council. Over the next 15 years, the 155-hectare site is set to deliver more than 15,000 new homes across seven neighbourhoods, alongside new schools, healthcare facilities and transport links.
Claire Brenlund, Sales & Marketing Director at L&Q, said: “Helping to develop a brand-new community on the fringes of Manchester city centre is about as exciting as it gets. There is so much planned for the Red Bank neighbourhood and wider Victoria North regeneration, and we’re thrilled to be launching Shared Ownership homes at the very start of the vision.”
The Victoria Riverside building will include a resident-only co-working space, gym, podium garden and concierge service. Its location places it within walking distance of Manchester Victoria station and Shudehill Interchange, providing connections across the city and beyond, including direct services to Manchester Airport, Chester and Liverpool.
Residents will also be a short stroll from Manchester Arndale, which houses more than 200 stores across two levels, as well as the Arndale Food Market and a growing number of independent retailers. Red Bank itself has begun to establish a reputation as an emerging food and drink destination, including Michelin Guide-listed restaurant The Spärrows.
The homes are available through Shared Ownership, a government-backed scheme designed to make homeownership more accessible. Buyers purchase a share of a property, starting from 25%, paying a mortgage on the portion they own and rent on the remaining share. Over time, owners can increase their stake through a process known as staircasing, with the option to eventually own 100% of the home.
With the first apartments set for completion in early 2026, the development marks one of the earliest residential releases within the Victoria North masterplan.
Read more:
Parklife returns for 2026 with Calvin Harris and Skepta
Ai Weiwei leads Factory International’s spring 2026 programme
Two Greater Manchester restaurants have been awarded the Michelin Bib Gourmand for 2026
