Waterside Places will stay on as development manager for the 106-apartment scheme in the Manchester neighbourhood.
The Clarion Housing Group development arm worked directly with Waterside Places, a joint venture between Muse Developments and Canal & River Trust, to acquire the .44-acre brownfield site.
Waterside Places had secured planning approval in April 2020 for the project, which is located on the located on the corner of Great Ancoats Street and Old Mill Street. Latimer said it would continue with those plans, with Morgan Sindall Construction set to begin work on the site in the next few months.
Designed by Ryder Architecture, the 77,000 sq ft development includes 33 one-bedroom apartments and 73 two-bedroom ones. Of those apartments, 54 will be available through shared ownership.
Sainsbury’s is lined up to take 1,750 sq ft of retail space on the building’s ground floor.
Latimer aims to encourage active travel by providing secure cycle storage facilities and limited car parking.
When planning approval was granted in 2020, Savills was the planning consultant for the scheme. Buro Four was project manager, while Hydrock and Hannan Associates were the engineering consultants. Rider Levitt Bucknall was the quantity surveyor.
News of the acquisition comes within two months of another Latimer purchase in Manchester – that of the former Boddingtons site off Great Ducie Street.
“The acquisition of this site continues our investment in the city of Manchester and demonstrates our commitment to providing new high-quality homes across different tenures and price points to meet demand,” said Richard Cook, group director of development for Clarion Housing Group.
“Our ambition is to deliver more than 50% of the new homes at Islington Wharf through shared ownership, offering an affordable way to get on the property ladder in a city that has so much to offer,” he continued. “We’re looking forward to working with Manchester City Council and local people to create a new community that generations to come will call home.”
The project will be the fourth and final phase of the Islington Wharf development, which started in 2005.
“We’re proud to exchange this deal with the Latimer team, which will accelerate the delivery of much-needed affordable homes in the heart of Manchester,” said Tom Webber, senior development surveyor at Waterside Places. “This phase represents the last phase of development here for us and we’re looking forward to getting on site to bring forward this striking scheme of apartments.”