Eda, Cole Waterhouse Taurus, p Inform Comms

The scheme is Cole Waterhouse's debut BTR development. Credit: via Inform Comms

Salford Quays BTR tower on sale for £90m

Cole Waterhouse and Taurus Investment Holdings have appointed JLL to find a buyer for the 29-storey, 290-apartment Eda.

The build-to-rent scheme is Salford Quays’ tallest building and is being marketed for around £90m.

Eda has proven popular among people looking for a home in the city since Domis wrapped up construction of the Chapman Taylor-designed development in 2023, boasting close to 100% occupancy and favourable resident reviews.

The scheme features a gym, cinema room, co-working space, a shared terrace, and private dining rooms. It generates £5.2m in rent annually.

A spokesperson for Cole Waterhouse said now is the right time to sell up.

“With Eda now at almost 100% occupancy, supported by extremely positive feedback from our residents, the value of the asset has increased significantly, and we believe this is the optimum time for us to sell and reinvest that capital in future projects as we continue to deliver more homes across the UK.”

Cole Waterhouse’s pipeline projects include 438 build-to-rent apartments and 419 student beds next to its completed No1 Old Trafford scheme.

The developer said Eda was one of its “most significant highlights”.

“After successfully delivering No1 Old Trafford close to Salford Quays, we knew there was a further opportunity to develop this nearby disused site into a prime residential location.

“Having acquired it in 2019 we built Salford Quay’s tallest residential building, delivering 290 much needed new homes for the area.”

Other Salford build-to-rent assets currently on the market include L&G’s Slate Yard, a 424-apartment project on the market for £110m. Knight Frank is advising on that sale.

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