Investar Property Group has acquired a 40,000 sq ft site on Talbot Road in Old Trafford, declaring its intention to build out more than 200 apartments.
The Manchester-based investor and developer intends to submit a planning application in the last quarter of 2019 for the site, close to the White City retail park and Trafford Bar Metrolink stop. It was acquired for an undisclosed sum from XYZ Properties, which was represented by Zaman Roberts.
Mace Consulting, JMW and Leach Rhodes Walker are working with Investar on the project.
Michael Dong, chief executive officer of Investar, said: “Trafford is undergoing a major transformation at present, outlined in the Civic Quarter Masterplan. With this, the area is demonstrating strong demand for new homes, especially as people are being increasingly priced out of Manchester city centre.
“The University Academy 92 is expected to create an influx in demand for contemporary living spaces. Our development will respond to this need by offering modern, city centre style homes, with easy access into Manchester for work and leisure.”
Investar is currently on site in Salford with Melody Gardens, a £6m social housing venture with Places for People, and has also got plans for a scheme called Fabric Village in Liverpool, a city where it has taken forward both new build and refurbishment projects.