The Waterside, Springfield Lane, Manchester, M3

SUMMARY

* Opportunity to acquire a residential development with planning permission subject to the signing of the S106 to create a riverside scheme to provide 183 private residential units.

LOCATION

* The site is located on Springfield Lane just off Trinity Way and is located in a predominately residential area. The property is within a 10-minute walk of Manchester Victoria Train station.

* The site also fronts the River Irwell providing direct access to walking and cycling routes around Salford and Manchester. The site is well connected, situated within a 10-minute walk of both Salford Central and Manchester Victoria train stations. Manchester Victoria is also a key Metrolink station, providing access to wider areas of the City Centre and Greater Manchester.

DESCRIPTION

* The site extends to approximately 1.5 acres (0.627 hectares).

* The site is currently occupied by approximately 19,373 sqft of commercial floorspace (B2 & B8 use) across 8 units together with an area of hard standing used for car parking and outdoor storage by a ground works company that has since left the site.

* The commercial units are currently vacant and are due to be demolished to provide a cleared site.

PLANNING

* Full planning was submitted on 18th October 2022 for the redevelopment of the site for a mixed-use development comprising 183 residential units (Use Class C3) within three linked blocks (3-18 storeys) and supporting commercial floorspace (Use Class E), with the associated demolition of all the existing buildings; access; parking; and landscaping. [Planning Ref. 22/80643/FULEIA]

* The consented waterfront scheme will comprise 183 apartments (81x 1 Bedroom, 91 x 2 Bedroom, 6 x 2 Bed Town Houses, 5 x 3 Bedroom) arranged across two blocks. Block A will be a part 4 storey and part 18 storey tower, Block B will be a part 4 storey and part 5 storey block, it will run parallel to Block A. The proposed class E commercial unit would be situated in Block B and extends to approximately 914 sqft.

* The proposed scheme would also provide 1,550 sqft of residents' communal facilities on the upper ground floor.

* The consented scheme will extend to a total area of approximately 115,949 sqft NIA (166,478 sqft GIA).

* The S106 contribution would amount to £1,159,010 to contribute to a fully private scheme.

* All apartments have Juliette balconies to living rooms, with some apartments benefiting from balconies and roof terraces.

TERMS

* The property is elect for VAT.

* The property is available freehold.