Cole Waterhouse wraps up 15-acre Salford deal
The developer has acquired a site close to the AJ Bell Stadium and is drawing up plans for a 300,000 sq ft industrial scheme, a project first revealed by Place North West in February 2021.
Cole Waterhouse has bought 15 acres next to the stadium from The City of Salford Community Stadium, a joint venture between Peel Land & Property and Salford City Council.
The developer, whose projects include the 354-home No1 Old Trafford and the under-construction Anchorage Gateway at Salford Quays, is now preparing to submit a planning application for the site’s redevelopment this month.
Proposals for the plot, located close to Port Salford, comprise two units measuring 170,000 sq ft and 130,000 sq ft.
Subject to planning approval, the project could complete by Q3 2023.
The project team for the scheme includes architect C4 Projects, Henry Riley as project manager, Sixteen Real Estate and DTRE as letting agents and Metis Real Estate as capital markets advisor.
XOSquare is the structural engineer, Terra97 is the geo-environmental consultant, AXIS PED is highways consultant, Novo Integration is building services consultant and Lichfields is planning consultant.
Damian Flood, chief executive of Cole Waterhouse, said: “Located close to Port Salford and the wider motorway network, this undeveloped site has huge future potential for a new logistics hub.
“We will be submitting a detailed planning application in June with the aim of achieving planning by September and starting on site immediately thereafter. As part of the development, we will also be undertaking a rebrand of the site, which we will announce later this year.”
Cole Waterhouse’s other projects include the 354-home No1 Old Trafford. Credit: Cole Waterhouse
Cole Waterhouse had been under offer on the site for more than a year before the deal completed for an undisclosed sum.
Addleshaw Goddard, Sixteen Real Estate and Metis represented Cole Waterhouse on the transaction, while Savills, Cushman & Wakefield and Walker Morris represented the Peel and the city council.
Salford City Mayor Paul Dennett said: “We are delighted that Cole Waterhouse has made the decision to invest in Salford and acquire land from CosCos [the stadium company].
“The sale, and planned warehousing, is another important development for the stadium site as part of the long-term growth ambition for this area, as a key component of the Greater Manchester Western Gateway.”
The joint venture between the city council and Peel is also looking to sell the 15,000-capacity AJ Bell Stadium itself. Salford City FC, owned by members of Manchester United’s so-called Class of 92, and rugby union side Sale Sharks want to buy the ground.
Under the proposed deal, the football club would relocate from its current home on Moor Lane in Kersal and share the stadium with rugby union side Sale Sharks.
Rugby league side Salford Red Devils, which currently shares the AJ Bell with Sale, would swap places with Salford City and relocate to Moor Lane, it is understood.
The Sharks and Red Devils currently pay rent to the city council and Peel L&P for the use of the AJ Bell.
