PLANS have gone in for another major apartment scheme in Salford.
Knight Knox says that at £94,995 the one beds are the most competitive investment properties on the market in Manchester/Salford right now
Altrincham-based Fortis Developments (who have a background in student housing) want to build 580 units across three blocks down Adelphi Street on a long-boarded-off site overlooking the River Irwell.
If the £76m Adelphi Wharf project gets the nod they expect to start building in April with first completions expected in August 2016 - just in time for the next influx of students.
They are already being sold off-plan to investors by Knight Knox International who have worked with Fortis on other student schemes across the UK.
You can see some of their past and future projects here. It's an impressive portfolio and I did enjoy the warts-and-all construction updates, a reassuring section if you live hundreds of miles from your investment and cannot nip down to site.
Fortis have more plans for Salford with a 200-unit scheme in the offing on Ordsall Lane for 2016.
Adelphi will offer a mix of one, two and three-bed apartments with an on-site gym, concierge reception, bike store, landscaped gardens and underground parking. The full details should be up on Salford’s public access planning forum on Monday 19 January.
Knight Knox says that at £94,995 the one beds are the most competitive investment properties on the market in Manchester/Salford right now and they are offering a guaranteed 6% return (a studio at X1Media City will cost you £50 less with the same guaranteed yield).
Adelphi Wharf
Adelphi Wharf location (note Deansgate bottom right)
Martin Copeland, sales director at Knight Knox, said: “2015 is set to be a very exciting year for Salford, due to significant investment into the city’s regeneration. We’re thrilled to be providing the area with high quality residential property and valuable investment opportunities, whilst boosting our portfolio with such a distinctive scheme.”
The development, designed by DMS Architecture, will be let and block managed in its entirety by Fortis Lettings and Management
Director of Fortis, Kieran Moore, said: “Fortis Developments has worked closely with Salford City Council and Urban Vision to ensure that the design and visual impact of Adelphi Wharf complements the area, whilst incorporating modern architecture along the city’s water front.
“A riverside walkway will be created to offer easy access to the waterfront, allowing residents to enjoy Salford’s surroundings with ease. Adelphi Wharf is an exciting project, which we expect the whole area to benefit from, enhancing the city’s growing reputation and breathing new life into this currently vacant site.”
Find out more and register your interest in Adelphi Wharf:
