Chairman Kevin McCabe said plans would be submitted in the summer to develop 140 apartments and around a dozen townhouses in the third phase of the 25-acre project in Salford.
A topping out ceremony took place this week on the roof of the final building in the second phase of the development, which consists of four separate buildings of up to 10 storeys providing 546 apartments, with the buildings connected by podium gardens. The new neighbourhood is home to over 650 residents and counting, with 94% of homes sold in the first two phases.
The first two phases were sold a year ago by Scarborough and its partners for £180m to a joint venture of Delancey Oxford Residential, fund manager APG and developer Qatari Diar, for renting under their Get Living brand. Get Living launched its first 275 homes for rent at New Maker Yards within Middlewood Locks last summer.
The development was designed by Whittam Cox Architects and landscape architect Planit-IE. The contractor is Beijing Engineering Construction Group International.
McCabe, founder of Scarborough Group International, told Place North West he expects a detailed planning permission for the third phase to be submitted in either June or July, with consent by the end of this year. If approved the project would start on site in the first quarter of 2021.
McCabe said: “Manchester is the key to the North. It is a world-renowned city and is becoming ever more cosmopolitan. With a settled Government and Brexit underway, I expect we will see a mini boom for the North of England.”
He added: “I am also particularly pleased there is now full commitment from the Government to HS2 which will provide a further boost not just to the Manchester region but also to the wider Northern Powerhouse. The Government has said HS2 will cost more than expected, but why should we not fund infrastructure that will bolster the North?”
Scarborough has outline planning consent for 900,000 sq ft and 2,125 residential units on 25 acres around the Bolton and Bury Canal, connecting to the River Irwell.
One of the next phases is likely to include a hotel and 100,000 sq ft office close to Trinity Way and the railway arches leading from Salford Central station.
McCabe was quiet on his previously stated vision for towers of 30 and 50 storeys. These would form the final phases of the residential element.
Paul Dennett, Salford City Mayor, said: “People are familiar with the site now, but previously it was a plot of derelict land and a bane of existence.
“The Middlewood Locks project has become the success story that we had envisaged four years ago, bringing the real benefit to the people of Salford. This was a brownfield derelict site that is being brought back into beneficial use as a new residential and business district.”
Rick de Blaby, chief executive of Get Living, said: “Last summer we launched our first 275 homes for rent at New Maker Yards within Middlewood Locks. Since then more than 300 residents have moved in at a rate of 25 per month.
“Our model and approach is aimed at long-term returns and the lifespan of buildings. We tend to spend money on the schemes on things like wi-fi, climate friendly developments, and hard-wearing buildings, as ultimately we’re the landlords and we will be the ones to pay with either our reputation or our money to fix things if they break.”
Middlewood Locks is being delivered by FairBriar International, a joint venture partnership between Scarborough, Hualing Group of China and Singapore-listed Metro Holdings.