Work begins on Salford mega development
CONSTRUCTION has begun in Salford on the North West’s largest residential development – XI Media City.
Building is being carried out by Liverpool-based Vermont Construction which is working alongside developer XI on the buy-to-let scheme to the private investor market for Knight Knox International.
Phase one’s 275 apartments are due for completion in early 2017 with the development designed by architects AHR.
The £200m luxury development will be completed over four phases and located on Michigan Avenue, Salford Quays. It will comprise over 1,000 apartments and 22,700 square feet of commercial space. Properties are for sale now and priced from £94,950.
Knight Knox says investor demand for the high end properties is extremely high, with more than 75% of the first phase already sold out and an equal level of popularity predicted for the remaining three phases.
Martin Copeland, sales director at Knight Knox, said: “2015 is set to be a very exciting year for Salford, due to significant investment into the city’s regeneration.
“The Quays is an exciting place to be, whether it’s to live, for work, or socially. We’re thrilled to be providing the area with such a high quality residential property and valuable investment opportunities, whilst boosting our portfolio with such a significant scheme.”
Amenities for the residential development are set to include an on-site cinema, private gymnasium and secure underground parking.
The development will be let and block managed in its entirety by X1.
Operational and regional manager of X1, Melissa Green, said: “XI has worked closely with Knight Knox International for a number of years and developed an extremely strong relationship with the provider.
“We’ve worked together to ensure that the design, finish and visual impact of X1 Media City complements the growing region, whilst providing the area with some high quality properties and second-to-none amenities.”
Phase two of the development is set to launch in April.
In 2014, Knight Knox International experienced its most successful year of trading since becoming a limited company in 2004, after launching a total of 13 developments at a value of almost £133m.
