Developer sought for 18-storey Salford apartment scheme
Having secured planning permission for a 183-home development at Springfield Business Centre last year, Si-Si Investments is looking to offload the site.
The investor has appointed Cushman & Wakefield and DI Properties Development & Investments to find a buyer for the 1.5-acre plot, which has permission for an 18-storey residential scheme.
Located off Springfield Lane, Si-Si Investments’ build-to-rent scheme was previously being brought forward with Torsion Developments. However, Torsion is no longer involved.
Branded as The Waterside, the development comprises six two-bedroom townhouses, 81 one-bed apartments, 91 with two bedrooms, and five three-bedroom apartments.
The scheme proved to be somewhat controversial during the planning process. It was passed by Salford City Council’s planning committee four votes to two despite more than 100 objections. Among the dissenters was Barbara Keeley MP, although the site does not fall within her constituency.
Bruce Poizer, partner in the capital markets team at Cushman & Wakefield, said: “This presents an exceptional opportunity to acquire a prime freehold residential development site. It will offer 183 units across one-, two-, and three-bed and townhouse apartments in a riverside setting.
“We expect this site will attract strong interest from both build-to-rent and build-to-sell developers due to the region’s increasing popularity and appeal. Manchester is the UK’s fastest growing metropolitan area, with an outstanding graduate retention rate of more than 50%”
The site is surrounded by residential schemes including Urban Splash’s Irwell Riverside, Property Alliance Group’s Uptown Manchester, and the Renault dealership on the corner of Blackfriars Road and Trinity Way, which Salboy is close to acquiring.
OMI Architects led design and Euan Kellie Property Solutions advised on planning.
Other members of the project team Roscoe as engineer, Hydrock as M&E consultant, SKT on transport, Kova Landscapes as landscape architect, GIA as daylight and sunlight consultant, and E3P as ecology consultant.
To learn more, search for reference number 22/80643/FULEIA on Salford City Council’s planning portal.
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I think every developer in Manchester has already run the rule over this. Pricing needs to be realistic in today’s market.
By Robbie
As per above think the vendor needs to “stop smoking dope” and be realistic in their expectations. Everyone worth their salt has looked at this and it doesn’t work at the price they want!!!
By Anonymous
Would Salboy buy this one and connect the development with Renault plot?
By Martina
Manchester may indeed be ‘the UK’s fastest growing Metropolitan area’ but developers still have to make margin.
By Anonymous