BTR Capital Partners appointed to Anchorage Gateway scheme
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Developer Cole Waterhouse has appointed BTR Capital Partners to help identify a funding partner for its Anchorage Gateway Build to Rent (BTR) scheme in Salford Quays.
BTR Capital director, Nick Wiggans, said: “We’ve been working with Cole Waterhouse on Anchorage Gateway in an advisory capacity since early stages of design and planning and it’s great to now be in the position to be actively marketing it to the investment community.
“Cole Waterhouse has created an exemplar BTR scheme for the region and we have already had a significant level of interest from investors.
“The BTR sector has remained particularly resilient during COVID-19 with rental income and cash flow remaining strong, compared to retail, leisure and office investments.
“In fact, our analysis shows that we expect investor interest in quality BTR schemes like this to increase post-COVID.”
In April, the 244,955 sq ft, 290-apartment scheme was submitted for reserved matters planning which includes 15,000 sq ft of resident amenities, including an 18th floor event space leading to a private terrace.
It will comprise a mix of one-, two- and three-bedroom apartments across 27 levels of residential accommodation, plus ground and mezzanine floors.
Damian Flood, Cole Waterhouse chief executive, said: “The appointment of BTR Capital Partners to assist in bringing in a funding partner takes Anchorage Gateway another step closer to delivery. They are specialists in the BTR sector and have extremely strong links with major institutional investors in the UK and overseas.”
Designed by Chapman Taylor, Anchorage Gateway features a residents’ roof terrace which will give panoramic views right across the cities of Manchester and Salford.
With a tram stop outside the development, it is just a short distance from Manchester city centre and is an easy walk or cycle to the centre of both cities.
With people giving even greater consideration to accessible outside space, the scheme is well located on the waterfront and just minutes from the open public spaces and waterways at Media City.
BTR Capital’s Nick Wiggans said: “Being involved with Anchorage Gateway in the early stages has allowed us to make sure the scheme meets the needs of the residents, but also that is delivered as a highly-attractive investment proposition.
“With a huge talent pool readily available and further regeneration plans for Salford Crescent, the university and just moments from the BBC MediaCityUK, it is arguably one of the region’s most sought after locations.”