Global investors sought for £68m Old Trafford scheme
Developer Cole Waterhouse and international property investment firm IP Global are launching their £68m mixed-use apartment development No. 1 Old Trafford to investors across the globe.
Cole Waterhouse, which has offices in Manchester and London, received planning for the 354-apartment development last summer.
It is now working together with IP Global – which has underwritten the development – to promote the sales of the 173 apartments in the 18-storey tower to global investors and local residents.
Part of the global launch is a promotional tour in Dubai and Hong Kong to introduce the project and Manchester’s property investment case to international investors who are interested in the Manchester market.
“No. 1 Old Trafford marks IP Global’s sixth investment into Manchester,” said Roxanne O’Fee Kelly, investment director at IP Global.
“Some of the largest and most successful schemes in our portfolio have been in Manchester. Since entering the market in 2015, our investors, who are based in the UK, China, UAE, Hong Kong, Singapore and beyond, continue to show an unwavering interest in Manchester’s growth potential.”
The 214,000 sq ft scheme near Salford Quays and MediaCityUK will feature a total of 139 one-bed apartments, 211 two-bed apartments and four three-bed apartments across two main buildings rising 15 and 18 storeys high.
Cole Waterhouse chief executive Damian Flood said: “The real selling point for No 1 Old Trafford is how connected it is to numerous amenities including MediaCityUK and the City Centre; it presents ease of accessibility for commuters, being close to the employment hub of Trafford Park.”
The scheme will be part of a new Metrolink line that will connect Manchester city centre to major employment hubs on the outskirts of the city as well as the Trafford Centre.
The Trafford Park tramline is set to complete in 2019 and there are also wider public realm improvements planned for the gateway site such as a link foot bridge over in to Salford Quays.
