Bentry Capital acquires 200-home Salford resi site for £12m

The £80m scheme would be constructed overlooking the Irwell in the Agecroft area of the city.

Bentry Capital, a London-based investor developer, acquired the three-acre site from J2 Corporation for £12m. J2 has secured planning consent for the initial 50-home phase, which features three- and four-bedroom townhouses.

Bentry, working with construction partner Mellior Group, has plans for a further 150 homes – another 50 townhouses and 100 apartments.

The townhouses will all have a private garden, with prices to start from £395,000.

Plans for the larger second phase are expected to be submitted next year, according to Bentry.

Bentry estimates the project will cost £35m to build.Work on phase one is expected to start in the new year.

The scheme, situated between Langley Road and the Irwell riverside footpath, is Bentry’s second Salford development after Willow Court, a 119-apartment project off Ford Lane a mile from the Irwell project.

Bentry also has developments in Liverpool and London in its £500m GDV portfolio.

David Cain, co-founder and chief development officer at Bentry Capital, said: “Despite the wider market challenges, we have delivered premium quality homes at nearby Willow Court and this trusted, experienced team will be put into action on Irwell Gardens to bring this vision to life.”

David Ronson, national sales and marketing director at Bentry Capital added: “The acquisition of Irwell Gardens marks another milestone for Bentry Capital as we strengthen the northern tranche of our portfolio.

“We have seen from our Willow Court development the huge level of demand from local owner-occupiers for premium newbuild housing in this area. Mellior Group has the local expertise and knowledge to deliver both phases of this scheme and create a new community.”

Savills is appointed to market the scheme.

Consent for the first 50 homes is in place. Credit: Bentry Capital