Accrue sells up after Trafford disappointment
The developer has sold a plot on Great Stone Road to AJ Bell after failing to win permission for a 332-apartment scheme on the site.
AJ Bell is in the early stages of working up proposals for the plot, which is currently occupied by a vacant B&Q store.
Accrue Capital bought the site, located next to Old Trafford Cricket Ground, in 2016 as part of a wider £19m portfolio acquisition.
The company’s first attempt to redevelop the plot ended in disappointment when Trafford Council rejected proposals for a 433-home scheme in 2019.
Accrue returned with scaled-back plans for 332 apartments in 2020. Trafford Council failed to determine the application within the statutory timeframe so the developer appealed in a bid to win approval for the project.
However, the Planning Inspectorate dismissed the appeal, saying Accrue’s proposals “would not deliver a high-quality, well-designed building and place”.
Accrue had argued that its scheme would contribute to Trafford’s five-year housing supply, which the authority cannot currently prove.
Trafford Council had previously looked into using compulsory purchase powers at the site to deliver a leisure centre.
However, the plot is earmarked for homes in the council’s Civic Quarter Area Action Plan.