Working with Frogmore, high end residential developer Royalton Group has acquired the 8.3-acre Pier 7 site in Salford Quays for its first scheme in Greater Manchester.
The site, purchased from TH Real Estate for an undisclosed sum, has an existing outline planning consent for around 800 units granted in May 2016.
An updated masterplan for more than 1,000 homes, together with new bars and restaurants and landscaped squares is now being developed by SimpsonHaugh & Partners ahead of submission by the end of the year.
Royalton founder and chief executive Ken Parker said: “This is an exceptional opportunity to create a world class address and we are incredibly excited. To have more than eight acres of waterfront land in the fastest growing city outside of London is a unique opportunity and we will make this a wonderful place to live.
“Salford City Council has been receptive to the scale of our ambition and very supportive and we are working closely with officers to develop joint plans to create the type of destination not yet seen in Greater Manchester.”
The site is currently used mainly for surface car parking and a group of low rise, half-vacant office buildings, known as the Media Centre, would be demolished. The Holiday Inn Express is not included in the site purchase. In addition to this disposal, TH last year sold off Manchester’s Central Retail Park.
Salford City Mayor Paul Dennett said: “Development of a currently under-utilised and part-vacant site is an exciting opportunity to create a dynamic new area of Salford Quays, adjacent to MediaCityUK.
“Investment and development of this scale bring huge benefits, opportunities for employment and skills training, apprenticeships and the benefits to the local supply chain, whilst also helping to fund other social outcomes.
“Not to mention, we are anticipating significant contributions from the Royalton Group for community infrastructure and truly affordable housing.”