Elliot Group presses ahead with ‘Plan B’ at Salford development

The Residence
X The Business Desk

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Liverpool developer Elliot Group has confirmed the appointment of Careys to build the concrete frame on its £70m residential development in Greengate, Salford, called The Residence.

The twin-tower scheme, rising to 34-storeys at its highest, was to be built by Bolton-based Forrest Construction, with Careys acting as sub-contractor for the frame.

Elliot Group took repossession of the site last week and, following conclusion of negotiations, Careys will begin erecting its tower crane on Tuesday next week.

The move is part of Elliot Group’s ‘Plan B’, launched to reassure investors that it had in place the necessary steps to protect their interests in light of Forrest Construction’s well publicised financial difficulties.

“We promised our investors that we would roll our sleeves up and sort things out with their interests in mind and this is proof of the pudding,” said Elliot Lawless of Elliot Group.

“Careys has an excellent reputation and I’m delighted to be contracting with them directly.

“It’ll take 18 months to complete the frame, during which time we will be negotiating with suitable contractors to finish the fit-out and the envelope.”

The mixed use development takes the form of a podium and two towers of 15- and 34-storeys, respectively.

One fronts Greengate, with the taller facing the River Irwell.

The scheme comprises 300 residential units with residents’ gym and a commercial unit at ground floor.

Private off-street parking is located at lower ground floor level, with additional residents’ amenities.

A new riverside walkway will be built along the banks of the Irwell.

Hill Dickinson and WYG acted for Elliot Group on negotiations with Careys.

Earlier this month Forrest stopped work on several developments in Merseyside and Greater Manchester.

It said it was undertaking a financial restructuring, blaming “a series of incorrect pre-construction estimates” on some of its projects.

It denied claims that it was about to enter administration.