- What DeTrafford is to sell Wavelength, a residential development site in Salford Quays
- Why Developer looking to focus energy on other sites in central Manchester
- What next Colliers instructed to find a buyer
Developer DeTrafford has put a site with the potential for a 26 storey residential scheme in Salford Quays on the market, React News can reveal.
Colliers has been appointed to find a buyer for the 1.2 acre site which has planning permission for a residential project called Wavelength.
The developer has consent for 421 homes in a building of up to 26 storeys at Furness Quay, around 15 minutes’ walk from MediaCityUK and close to Manchester city centre. The project also includes more than 4,000 sq ft of commercial space.
The development is split across three towers and includes a mix of apartments, under a planning application submitted in January 2017 and approved in December 2019.
The existing planning consent has been designed by architect Ollier Smurthwaite, and includes proposals to demolish Navigaton House at Furness Quay and replace it with three blocks in a ‘spiral’ pattern; two blocks form a C-shape and rise up from six storeys to 20. The largest block sits separately and reaches 26 storeys.
DeTrafford appointed BNP Paribas to find a forward funder for the project last summer, as revealed by React, but a deal never materialised.
Developers with “exemplary track record” invited
On launching the sale, Colliers said it would be “inviting offers from developers which can demonstrate an exemplary track-record of acquiring and delivering high quality development on similar opportunities”.
James Strong, senior surveyor, residential development at Colliers said: “Wavelength offers an exciting opportunity for a developer to create a new development within an area that has experienced extensive redevelopment over the past few years, resulting in what is now an outstanding business, cultural and residential hotspot. Destinations such as The Lowry, Quayside Shopping Centre and IWM North in addition to employers such as BBC, ITV, University of Salford and Bupa having a strong presence has attracted a diverse range of residents, occupiers and visitors to Salford Quays.
“In addition, Salford City Council has recently launched its new blueprint, entitled Salford Quays: A New Vision in 2030, which details five guiding principles set around ensuring the area evolves even more over the coming years as a place that works for everyone, that puts people at its heart, that is dedicated to wellbeing and where creativity brings people together. Colliers is seeking a developer who really wants to be part of the Quay’s future, helping to celebrate communities and the history of the locality.”
Gary Jackson, founder and chief executive of DeTrafford added: ‘This is a unique opportunity for a developer to acquire a successful waterside development opportunity with similar layouts and cost effective facilities to our Manchester City centre schemes where we are concentrating. It also benefits from being in close proximity to the metro for easy access to the city centres / stations and airport.”
DeTrafford focusses on Manchester
Other projects in DeTrafford’s pipeline include the £94m Gallery Gardens, approved by Manchester City Council in May last year; the 13-storey Phoenix Works, also in Manchester; and Transition, a three-tower project topping out at 37 storeys in Manchester’s Great Jackson Street area.
React also revealed earlier this month that the developer was working with Colliers to find a funder for another residential project, a potential £37m proposal in east Manchester featuring up to 146 homes.
Completed schemes include the 163-home Elisabeth Mill in Stockport, and the 138-apartment St George’s Gardens near Manchester city centre.
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