Planning approval for second bespoke Salford PRS development
English Cities Fund (ECf), a joint venture between Muse Developments, Legal & General and the Homes and Communities Agency, has successfully secured reserved matters planning consent for a second bespoke PRS residential scheme.
The new 110,000 sq ft scheme will be situated on the banks of the River Irwell, adjacent to ECf’s New Bailey development, which is just over the bridge from Spinningfields. Designed by AHR architects, the building will comprise 135 custom built units and will sit alongside ECf’s 90-apartment PRS scheme, which is currently on site and is being forward funded by Legal and General Capital (LGC).
Phil Mayall, development director at ECf, said: “We announced in June that we would be developing the first custom-built PRS scheme to be delivered in Greater Manchester. We are very pleased with the progress that we have achieved so far and are delighted to be announcing that we are planning a second PRS development at the site.
“We are currently in discussions with a potential funder for the scheme. We hope to be in a position to announce further details on this, as well as the name of the appointed contractor in the New Year, when we will also be introducing a new branding concept for the scheme.”
Work is expected to start on site on the new PRS scheme in early 2016.
In addition to the PRS developments, the wider New Bailey scheme will feature state-of-the-art office accommodation, a vibrant mix of cafes, bars and restaurants and an outdoor events space which is currently home to the Manchester ice rink.
A 143-bed Premier Inn and a 615-space NCP car park which are also part of the development are now complete and fully open to the public. The first office development, One New Bailey, is due for completion in May 2016.