Salford Central tower heads to site after funding deal agreed
A 23-storey, 196-apartment scheme in Salford can now go to site after a funding agreement with CBRE Investment Management.
ECF – comprising Homes England, the Government’s housing and regeneration agency, Legal & General and national regeneration business, Muse Developments – agreed the deal for the latest scheme at the heart of the Salford Central regeneration project.
The new building will be at Plot C2, located on the bank of the River Irwell between the Slate Yard and Novella residential developments, both of which were also delivered by ECF.
These three buildings include more than 800 new apartments at the heart of Salford Central. Morgan Sindall Construction, which built Novella and The Slate Yard, has been appointed to deliver the C2 development.
The new building will also feature 3,800 sq ft of internal amenity space, including a gym, co-living and working space, and a 1,850 sq ft roof terrace on the 22nd floor.
Designed by Hawkins\Brown, C2 will feature a mixture of modern one-, two- and three-bedroom apartments.
Salford Central – delivered in partnership between ECF and Salford City Council – is already a thriving community of world class workspaces for businesses, and more than 1,000 new homes and sits at the heart of the recent growth of Salford’s economy, creating long term employment opportunities and more quality places for people to live.
The different housing tenures across the 50-acre Salford Central site include townhouses, built-to-rent properties and luxury apartments, which, together, are bringing a unique mix of people and creating a diverse community.
Max Bentham, development director at Muse, said: “The CBRE IM team are fully aligned with ECF’s and Salford City Council’s vision that has created a thriving destination of homes, workspace and fantastic public amenities, in doing so creating major benefits for the wider Salford community.”
Hannah Marshall, CIO – UK Direct Real Estate Strategies at CBRE Investment Management, said: “Like most European cities, Manchester’s Build-to-Rent market is undersupplied, and high quality assets with strong sustainability credentials, like those planned at New Bailey, are rarer still.
“We look forward to working with our partners to deliver this scheme to the market, enabling 196 new households the opportunity to rent a sustainable home in close proximity to central Manchester.”
Simon Arnott, Morgan Sindall’s managing director for the North, said: “We’re very happy to once again be on site at Salford Central with the ECF delivering the latest stage of its landmark plan for Salford.”
CBRE advised ECF on the deal.
