Land at Ordsall Lane, Salford

Manchester M5 4TT

Overview

  • Opportunity to purchase a Freehold development site close to Manchester and Salford city centres
  • Detailed planning consent for the erection of 196 residential apartments and ground floor commercial space
  • Comprises two blocks between seven and nine storeys
  • The development allows for delivery of the scheme into the Market Sales or Private Rented Sector markets
  • Site extends to 1.08 acres

Location

The subject site is ideally located on Ordsall Lane, Salford. Ordsall Lane is a main thoroughfare between Manchester and Salford and is becoming a newly established hub for residential development and city living. The site is bordered by Dyer Street and Worrall Street, providing good vehicular and pedestrian links.

The site itself is equidistant from both Manchester City Centre and Salford Quays (1 mile), with both centres being easily accessible by foot.

The development will be immediately adjacent to a new pedestrian bridge across the River Irwell, linking both the Ordsall neighbourhood and riverside area with Cornbrook Metrolink station and the excellent public transport service that this station offers. There will also be a new enhanced bus service to operate between Salford Quays and Manchester City Centre immediately adjacent to the site.

  • Bus Stop - Adjacent
  • Cornbrook Metro Stop - 0.6 miles to the south
  • Manchester City Centre - 1 mile to the east
  • MediaCity UK - 1 mile to the west
  • Manchester Airport - 10 miles to the south
The surrounding area is alive with development and regeneration, with new schemes and opportunities set to transform the area. This is the result of the Council's framework for the transformation of the Ordsall Riverside area into a vibrant mixed-use area comprising residential, commercial and leisure uses.

These new developments within the Ordsall Riverside will benefit from proximity to and views of the river, and access to the strategic road network with close proximity to the Metrolink tramline.

Directly opposite the site, on the southern bank of the River Irwell, lies Pomona Island. The owners Peel Land and Property have an ambitious masterplan for the regeneration of the former 26 acre dockland site.

The site will provide in the order of 2,500 homes, retail space and commercial, that will radically reform the area. Schemes to the east and west of the subject site will also see the surrounding area transformed as this new neighbourhood of the city establishes itself as a key residential hub.

Situation

Nearby Developments

The development will be immediately adjacent to a new pedestrian bridge across the River Irwell linking both the Ordsall neighbourhood and riverside area with Cornbrook Metrolink station and the excellent public transport service that this station offers.

The development will be immediately adjacent to a new enhanced bus service to operate between Salford Quays and Manchester City Centre.

Manchester's Drivers of Growth

Manchester's residential market has been very strong over the past 5 years, with a substantial lack of supply underpinning the market place; the city boasts the highest price growth in the UK for five of the last 6 years.

Hailed as one of the best cities to live in, Manchester is a world class proposition for business and investment, with the city's economy expected to remain as a key driver of the North West. Manchester's population is projected to increase to 631,500 residents by 2041, an increase of 14.1% from its current size.

Over roughly the next decade, 110,000 new jobs are expected to be created. There are additional drivers of growth for Manchester outlined below:
  • Fastest growing UK City outside London
  • 7.2 million people live within an hour's commute, largest travel to work catchment of any regional UK City
  • 6,500 businesses - The city is home to 80 of the FTSE 100
  • 130,000 people in the city centre
  • 1,500 international businesses
  • 2.7 million Greater Manchester population (1.77 million working age)
  • Over 51% of the North West's total economic output is produced by the Greater Manchester region
  • Greater Manchester is home to five universities
  • 105,000 students with the best graduate retention outside of London (over 50%)

Description

The Scheme

The subject site has planning permission for a total of 196 residential apartments with a range of complementary amenity and commercial uses (see plans within dataroom).

A Schedule of Proposed Accommodation can be found in the link below.

Residential NIA - 118,763 sq ft
Commercial GIA - 1,643 sq ft
Total Scheme GIA - 169,277 sq ft

The development will comprise two blocks of seven and nine storeys, creating a landmark scheme in the heart of the Ordsall Lane corridor, attractive to owner occupiers, individual investors and bulk purchasers.

There are 45 car parking spaces provided at ground level, with secure cycle storage for 164 cycles.

Attractive unit mix comprising 45% 1 beds, 43% 2 beds, 8% 3 beds and 4% 2/3-bed duplex apartments, which will appeal to a broad mix of tenants from young professionals to families.

Planning Permission

Planning Consent has been granted under reference number 17/70278/FUL.

The above was approved subject to the signing of a S106 agreement, which requires a financial contribution of £710,420 and one affordable home.

Details of the permission and additional relevant documentation can be found within the data room or the Salford City Council Planning Portal.


Tenure

The site is held Freehold under two Titles:

  • LA130366
  • LA143529

VAT

LA130366 (Not VAT registered) LA143529 (VAT registered)

Additional Information

All information is available to view and download in the Dataroom.

Proposal

Price upon application.

Download Brochure



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