Salford readies land deal for £53m apartment block
The city council is planning to dispose of a plot off Trinity Way to a vehicle controlled by Salboy and Domis directors, paving the way for a 250-flat scheme called Obsidian.
Trinity 2 Limited, which counts Salboy’s Simon Ismail and Domis’ Lee McCarren and Kingsley Thornton as directors, won approval for the 26-storey scheme last year.
Designed by Studio Power, the £53m Obsidian would be constructed on a narrow strip of land close to Salboy’s Local Blackfriars development.
At present, Domis owns around half of the Trinity Way site with the city council owning the rest.
In order to bring Obsidian forward, a land sale/swap is required.
In return for selling its interests in the Obsidian site to the Domis/Salboy vehicle, Salford City Council will receive a capital receipt plus a plot of land currently used as a car park close to the developer’s Fifty5ive scheme north of Blackfriars Road.
The city council will acquire the site as a going concern and is in the process of searching for an operator to manage the car park. The authority will also “explore proposals for potential future development at the site”, according to the report.
An options appraisal will be carried out to assess the site’s potential. A residential scheme and “opportunities for a wider strategic land deal with adjacent landholders to support the council’s Greengate regeneration strategy” are on the table, the report states.
Salford City Council said in a report to its property and regeneration committee that the land deal would “facilitate residential development at the site which is strategically important for the regeneration of the Chapel Wharf area”.
A Salford City Council spokesperson said: “Councillors will decide as to whether to move forwards with plans to sell some land, and also buy land in Central Salford. The transactions, if approved, will rationalise ownerships in the area and pave the way for future developments at both sites. Prior to any future development the Queen Street at Greengate will remain as a car park.
“The proposals are detailed in the written report which Councillors will consider at Property & Regeneration Briefing on the 12 February.”