The Toast Rack: Iconic Manchester building up for sale with plans in place to become 200 new homes

The Toast Rack building in Fallowfield is up for a sale – and it comes with planning permission for over 200 new homes.

The landmark building, which was originally part of the Manchester Metropolitan University campus, is being sold alongside the other parts of the 3.71-acre site known as the Gateway, the Horseshoe, the Drum and the Stitching Hall, which is located behind the Toast Rack.

Plans have already been granted for 211 residential units, which will be a mix of one to four bed apartments, as well as 20,910-sq-ft gym and leisure space, a 7,582-sq-ft commercial space and 154 car parking spaces split across the site.

104 of the apartments will be located in the Toast Rack building itself and the Horseshoe, and another 11-storey building will also be built on the Gateway site for 60 rental apartments. There Stitching Hall will also be converted into 47 homes.

The Gym Group has a 15-year agreement to continue leasing the Drum as a 24-hour, on-site gym.

Bruce Poizer, head of capital markets at Cushman & Wakefield in Manchester, who are handling the sale, said: “The Toast Rack is one of the most striking and recognisable buildings in Manchester and we are delighted to bring it to market. This is an incredibly rare opportunity to invest in a vibrant area that is ripe for development.

“Fallowfield is synonymous with student living, it is also a popular suburb for young professionals and families due to its proximity to Manchester city centre, cultural amenities and sport and leisure. We anticipate strong interest in this unique site and expect it to appeal to both build-to-rent and student accommodation investors and developers.”

The Toast Rack was built in 1960, as part of the Hollings campus of the Manchester Polytechnic, which is now MMU. The distinctive modernist building was granted listed status in 1998. MMU sold the building in 2013.