NOMA Development Finance
NOMA is Manchester's premier regeneration district, NOMA development finance funds property projects within this transformative quarter, and Manchester Development Finance is the specialist broker that connects NOMA developers with competitive funding from 50+ lenders. Positioned immediately north of Victoria station, NOMA encompasses 20 acres of land that is being reshaped into a vibrant mixed-use neighbourhood combining workspace, residential, retail, and public realm.
The NOMA masterplan represents an investment pipeline exceeding £800M, making it one of the most significant urban regeneration projects in the north of England. Originally anchored by the Co-operative Group's decision to consolidate its national headquarters at 1 Angel Square, the district has since evolved into a diverse development ecosystem attracting both institutional and SME developers. For property developers seeking finance for schemes within this dynamic quarter, understanding the local planning context and lender appetite is essential.
Loading map...
NOMA Planning Context and Policy Framework
NOMA falls within Manchester City Council's jurisdiction and benefits from the council's strong pro-development stance. The area is covered by the city centre strategic regeneration framework, which designates NOMA as a key growth area for both employment and residential use. The original NOMA Strategic Regeneration Framework, first adopted in 2003 and refreshed in subsequent iterations, establishes the planning principles that guide development across the district.
Manchester City Council has consistently supported high-density residential and mixed-use schemes within NOMA, recognising the district's strategic importance in linking the city centre core with the Victoria North regeneration area to the north. Planning applications within NOMA benefit from the council's established appetite for transformative development, though schemes must still demonstrate high design quality, appropriate massing, and contribution to the public realm. The area sits within the Deansgate Conservation Area buffer zone, and proposals near Angel Meadow must respect the park's heritage significance as one of Manchester's oldest public spaces.
For development finance purposes, the planning stability within NOMA is a significant advantage. Lenders view schemes with clear planning support favourably, and NOMA's established regeneration framework reduces the planning risk that can delay or complicate funding. Developers with pre-application engagement from Manchester City Council's planning department can typically secure finance more quickly, as lenders gain confidence in the likelihood of consent.
Recent and Approved Development Schemes in NOMA
NOMA's development pipeline continues to expand with a series of significant schemes at various stages of delivery. The district's anchor is 1 Angel Square, the Co-operative Group's BREEAM Outstanding headquarters that established NOMA as a credible destination. Since its completion, the pace of development has accelerated considerably.
The Hanover Building redevelopment brought boutique workspace and ground-floor leisure to the northern edge of the district, while Federation, a major co-working space, attracted a community of tech startups and creative businesses. The residential component has gained momentum with several build-to-rent and for-sale apartment schemes approved along the Angel Meadow frontage, delivering hundreds of new homes to the district.
Angel Gardens, a 458-apartment development by Muse Developments on the eastern edge of NOMA, demonstrated the scale of residential opportunity in the district. Subsequent approvals have included mixed-use blocks combining residential, retail, and workspace uses along Dantzic Street and Miller Street. The delivery of new public realm, including the expansion of Sadler's Yard as a dining and events destination, has further enhanced the area's attractiveness to residents, occupiers, and investors.
For developers considering new schemes in NOMA, the established track record of successful projects provides a compelling case for lender confidence. Development finance providers are familiar with the area's trajectory, and sales values and rental levels from completed schemes provide robust comparable evidence for valuations.
NOMA Market Statistics and Lender Appetite
NOMA commands premium residential values within the Manchester city centre market. New-build apartment prices in the district typically range from £350 to £450 per square foot, with prime schemes achieving above £475 psf. Rental yields for well-specified apartments in NOMA average 5.5% to 6.5% gross, underpinned by strong tenant demand from young professionals employed in the city centre and MediaCityUK corridor.
Lender appetite for NOMA development schemes is strong across our panel. The area's established regeneration trajectory, institutional-grade neighbouring developments, and proximity to Victoria station make it an attractive proposition for both mainstream development lenders and specialist funders. Senior development finance for NOMA schemes is typically available at 65-70% LTC, with rates starting from 7.5% per annum. Stretch senior facilities reaching 80-85% LTC are available for experienced developers with strong track records.
Mezzanine finance providers are particularly active in NOMA due to the area's strong GDV profile and proven sales rates. Combined senior and mezzanine facilities can take total funding to 85-90% of costs, reducing the equity requirement for developers. Several lenders on our panel have specifically cited NOMA as a preferred lending area within Manchester, reflecting the district's strong fundamentals and transparent market evidence.
£350-£475
Price per sq ft (new build)
5.5%-6.5%
Gross rental yield
65-70%
Typical senior LTC
12
Active development schemes
Explore Neighbouring Development Areas
NOMA sits at the heart of a cluster of regeneration areas that are collectively reshaping north Manchester. Developers working in NOMA often explore opportunities in the neighbouring districts, which offer complementary development characteristics and access to different market segments.
Ancoats
Manchester's trendiest neighbourhood, immediately east of NOMA. Warehouse conversions and new-build apartments with strong yields.
Victoria North
20,000-home masterplan directly north of NOMA. Decades of development pipeline across Red Bank and Collyhurst.
Piccadilly
HS2 arrival and Mayfield regeneration transforming Manchester's eastern gateway. Major scheme opportunities.
Planning a Development in NOMA?
Get indicative terms for your NOMA development within 48 hours. Our team has deep experience funding schemes across Manchester's premier regeneration district.