Cole Waterhouse Acquires Salford Quays Site
Development and investment company Cole Waterhouse has exchanged legal agreement with COIF Charities Property Fund to acquire The Anchorage in Salford Quays, with plans to transform the site into a 290-unit residential scheme.
An outline planning application has been submitted by Indigo Planning to Salford City Council for an L-shaped residential building, designed by architects Chapman Taylor. It will comprise up to 29 storeys, offering a range of 1-bed, 2-bed and 3-bed apartments, complemented by amenity space for residents and visitors. A vacant 20,635 sq ft NIA office building currently occupies the site, which was home to Barclays until the firm relocated 18 months ago.
The site acts as a gateway to Salford Quays and is an opportunity to create a landmark building which will fittingly mark the urban transition to the taller, higher-density developments of the Salford Quays area, including MediaCityUK.
The wider project team includes Indigo Planning, structural engineers Renaissance, M&E contractors Novo, landscape architects Exterior Architecture and project managers/quantity surveyors Henry Riley.
Less than a mile from The Anchorage, Cole Waterhouse is currently on site at No.1 Old Trafford, a 214,000 sq ft residential scheme which is scheduled for completion in early 2021.
Speaking about the decision to acquire the site, Cole Waterhouse CEO Damian Flood commented: “This site is extremely well located, occupying a prominent position between MediaCityUK, Exchange Quay and Trafford Park, and bringing this site back into use will help further regenerate this area of Salford Quays. Our scheme at No.1 Old Trafford has received a huge level of interest, and we believe there is a latent demand for high-quality homes in this location at the right price point.
“We hope to receive a decision from Salford City Council before the end of the year and, if successful, we will look to start on site in the new year.”
Chapman Taylor director Michael Swiszczowski adds: “Anchorage Gateway will be a distinctive, high-quality and visually attractive focal point at the entrance to Salford Quays. Our vision is to create the basis for a sustainable and vibrant residential community which enhances the area socially and economically while helping to provide much-needed, high-quality residential space in the city.”
He continues: “It has been a real pleasure working with Cole Waterhouse, exploring the great potential that this gateway site has to offer. We have an experienced professional team on board and look forward to being able to realise Cole Waterhouse’s aspirations.”
Allsop is advising Cole Waterhouse with JLL acting on behalf of the vendor.