FOLLOWING the sell-out success of their £50m Bridgewater Point development on Ordsall Lane in Salford, Manchester-based property investment firm Knight Knox have unveiled plans for a new neighbouring scheme – Bridgewater Gate.
Salford has quickly become a hugely popular destination when it comes to investing in residential property
Costing £7.5m, the new development on Woden Street will provide a further 53 apartments just off Ordsall Lane, a stone’s throw from Castlefield and MediaCityUK.
Bridgewater Gate – which is expected to complete in the first quarter of 2017 – will feature a communal roof garden, underground parking and a concierge service. The scheme will be let by Fortis Developments.
Andy Phillips, commercial director at Knight Knox, said:
“Following the initial success of Bridgewater Point, I’ve no doubt that Bridgewater Gate will prove to be another hugely popular Fortis scheme and one that will help to satisfy the increasing demand of the buy-to-let investor market.
“Thanks to its impressive average buy-to-let income yield, Salford has quickly become a hugely popular destination when it comes to investing in residential property. The region’s continued investment in local amenities and job creation is an attractive proposition and leads to increased rental demand.”
Bridgewater GateThe launch of Bridgewater Gate comes soon after the Phase 2 launch of another Fortis-led development– the £75m 593-apartment Adelphi Wharf scheme on Adelphi Street.
Director of Fortis, Kieran Moore, said: “I am delighted to announce the launch of Bridgwater Gate to build on the recent success of nearby Bridgewater Point.
This is the third project Fortis Developments has launched in Salford. We are confident Bridgewater Gate will follow the sales success of Adelphi Wharf and Bridgewater Point, which emphasises the confidence investors have in the city."
