A joint venture between X1 Developments and Knight Knox International has started construction of 1,000 apartments in Salford Quays for the buy-to-let market.
The £200m X1 Media City scheme will be completed over four phases and is located on Michigan Avenue, Salford Quays.
Building work is being carried out by Liverpool-based Vermont Construction. Phase one will be made up of 275 flats which are due for completion in 2017. The development was designed by AHR. The scheme includes 22,700 sq ft of commercial space. Apartments are for sale now and priced from £94,950.
Amenities for the residential development are set to include an on-site cinema, private gymnasium and secure underground parking.
The development will be let and block managed in its entirety by X1.
According to Knight Knox, investor demand for the properties is high, with more than 75% of the first phase already sold out.
Phase two of the development is set to launch in April.