£7.5m plan for more city centre apartments
PLANS for a £7.5m contemporary residential scheme for 53 homes in Salford have been brought forward.
Knight Knox – a provider of buy-to-let developments to the private investor market – and Fortis Developments have launched the plan for Bridgewater Gate.
The announcement comes following the success of nearby sold out scheme Bridgewater Point, 134 apartments based on Ordsall Lane.
Located on Woden Street, just a stone’s throw from Manchester city centre and the bustling MediaCityUK, the new development will be complete in the first quarter of 2017.
Amenities include secure underground parking, a concierge service and a communal roof terrace.
The scheme will be let by Fortis Lettings and Management and managed by Fortis Estate Management.
Andy Phillips, commercial director at Knight Knox, said: “Following the initial success of Bridgewater Point, I’ve no doubt that Bridgewater Gate will prove to be another hugely popular Fortis scheme and one that will help to satisfy the increasing demand of the buy-to-let investor market.
“Thanks to its impressive average buy-to-let income yield, Salford has quickly become a hugely popular destination when it comes to investing in residential property. The region’s continued investment in local amenities and job creation is an attractive proposition and leads to increased rental demand.”
The launch of Bridgewater Gate comes soon after the phase two launch of another Fortis-led development– Adelphi Wharf.
The £75m scheme is based on Adelphi Street on the bank of the River Irwell, within walking distance of Manchester city centre.
It will comprise 593 apartments and townhouses, with phase one due to be completed in Q2 2017 and phases two and three in Q4 2017.
Director of Fortis, Kieran Moore, said: “This is the third project Fortis Developments has launched in Salford. We are confident Bridgewater Gate will follow the sales success of Adelphi Wharf and Bridgewater Point, which emphasises the confidence investors have in the city.”
