Beijing Construction & Engineering Group is close to topping out on the first phase of residential development at Middlewood Locks in Salford, delivering 570 flats across six canalside buildings.
Middlewood Locks is a 25-acre scheme, which will provide a waterside neighbourhood around three basins of the Manchester, Bolton and Bury Canals, connecting to the River Irwell. In total, it has planning permission for 2,215 homes and 900,000 sq ft of commercial space including a hotel.
The site is being developed by FairBriar International, a joint venture in which Scarborough International Properties holds a 50% stake, with Metro Holdings of Singapore and Hualing Group of China controlling 25% each.
In the six buildings which make up the first phase, the first 70 flats are due to be ready for residents to move in next March, with all residents in occupation by November 2018. The blocks have parking on ground level, creating a podium with the residents’ private garden and access on top.
Of the 110 apartments released for sale so far, 100 have sold, to a mix of owner-occupiers and investors. According to Scarborough, sales have been buoyed by the popularity of the Government’s Help to Buy equity loan scheme which is available at the development.
Groundworks are underway to prepare for the next phase of homes, a set of four blocks along Middlewood Street, with the project aiming to complete by the end of 2019.
Work on restoring the towpath which runs through the site is being completed in stages.
Apartments are being sold for £240,000 for two bedroom properties, and £160,000 for one bedroom.
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