Planning permission has been granted for New Victoria, a project worth almost £200m located in Manchester city centre, close to Victoria Station.

Developer and urban regeneration specialist, Muse Developments, working in partnership with Network Rail, will now go ahead with a £185m mixed-use development on the 2.5-acre site on Corporation Street.

The project will see the creation of three new buildings; a 150,000 sq ft, Grade A, eight-storey office development, as well as two residential buildings (20 and 25 storeys).

A total of 520 new homes are planned comprising 178 one-bed, 286 two-bed and 56 three-bed apartments on the site, which is currently owned by scheme partner Network Rail.

The first phase of residential development will provide a gym, 24-hour concierge, communal residents’ lounge, cycle storage and a roof garden.

The office and residential buildings fronting Corporation Street will feature retail space on the ground floor, with a car park.

David Burkinshaw, development director at Muse, said: “New Victoria offers an unparalleled location and an outstanding development opportunity.

"Working closely with Network Rail, Muse can now advance the detailed design of the first phase of residential.”

David Biggs, managing director of network rail property, said: "The project will help us deliver our targets to release former operational railway land for homes."

Muse is working with award-winning architect Sheppard Robson and Arup on detailed design proposals for the scheme. Deloitte provided support with the preparation of the planning application.

Muse will now progress the design and contractor procurement process, with construction expected to begin on site in Q4 2017.