Work on the last undeveloped site overlooking Erie Basin in Salford Quays is set to start following the partners’ acquisition of the site from Peel and the granting of planning permission. The Build to Rent (BTR) development will create 270 new homes, residents’ gardens, amenity space and car parking.
Moorfield and Glenbrook will work together on the development, with construction due to begin this summer. Moorfield will fund the scheme and retain ownership when it is completed.
The site is located adjacent to MediaCityUK in the heart of Salford Quays with waterside views and the cultural, entertainment and leisure offer of an internationally recognised destination.
The development is the third BTR scheme undertaken between Moorfield and Glenbrook, following the 240-apartment development of The Keel at Queen’s Dock, Liverpool and the 232-apartment scheme now known as Trilogy in Castlefield, Manchester. It will be Moorfield’s fourth BTR development, after work recently began on the 280-apartment Forth Banks site in Newcastle.
When completed it will be a 220,000 sq ft 16-storey scheme, designed by award winning architects Shepherd Robson, consisting of 270 one, two and three-bedroom residential apartments with gardens, amenity space and car parking.
Charles Ferguson-Davie, Moorfield Group CIO said: “Moorfield has been a pioneer of the Build to Rent sector and we are pleased to be adding Erie Basin to our platform. With this new project, which is next to the vibrant and growing MediaCityUK, we are aiming to deliver another landmark BTR scheme, focusing on design and professional concierge style services to create an attractive place to live.
“The BTR sector is in its infancy and we are proud to be at the forefront of it as we have been with other sectors such as student accommodation and retirement living. BTR will form a fundamental part of many cities’ wider residential strategies and we intend to develop more schemes and so help deliver much needed housing supply across the country.
“Moorfield is committed to BTR, which is underpinned by a structural lack of supply and strong demand, and we are progressing with a pipeline of exciting opportunities with an aim to build a c.2,000 unit platform.”
Ian Sherry, director at Glenbrook, commented: “This latest deal further demonstrates our confidence in the built to rent sector in the regions. Our ability to identify suitable sites for purpose built build to rent and then deliver viable schemes has enabled us to develop a long term relationship with Moorfield. We have achieved consent on over 1,000 apartments in the past three years and we continue to look for further opportunities across the UK.
“Erie Basin meets all the criteria when identifying suitable sites for Build to Rent. Visually, the building design is very impressive helped by its prominent dock side position. But what sets Erie Basin apart is its position next to MediaCityUK, which will provide residents with a quality address in a premium location and with excellent transport links to the wider North West.”
Graham Construction has been appointed as the main contractor. The scheme is due to complete in summer 2019.