Ambitious plans for the £9 million second phase of the Riverside House development in Salford have been unveiled by Portergate.
And it means attractive new opportunities for investors to play their part in the continuing Riverside success story and the increasing pace of regeneration of the area.
The riverfront apartment scheme promises to add another exciting chapter to both the growth of the forward-thinking development company and Salford.
Portergate Developments is seeking planning consent to create 45 luxury one, two and three bedroom apartments, along with a convenience store and café on the prime site, next to the successful £8 million hotel-style student accommodation building on the banks of the River Irwell.
The apartments, many with balconies and river views, will be managed by Portergate’s property management arm and are aimed at young professionals, key workers and first time buyers.
The project will become the only bespoke private apartment residence, including a number of duplex apartments, on the stretch of the Irwell that leads directly into Manchester’s Cathedral Quarter and main shopping district.
The café will be located on the first floor of the development to give it river views.
The proposed plan also involves improvements to the riverside walkway and secure car parking for residents.
Anthony Jackson, chairman of Portergate, is confident the development will attract investors, including those who have already seen good returns from their initial investment in Riverside House.
He believes Phase II of Riverside, on a vacant 2,350 sq metre site backing onto St Simon Street, will also play another key role in the continued regeneration of the area, providing much needed homes for ambitious young people in the city.
A planning application has been submitted to Salford City Council and the proposals are set to be discussed early next year.
The proposed development has been designed by leading North West architecture practice Studio KMA.
The decision to go ahead with the development follows the continuing success of Riverside House, which is now attracting students from across the globe and sold out its 242 hotel-class rooms in record time this September.
Anthony Jackson said: “Riverside House has been a major success story for us. Students really enjoy the experience of living there and the demand for apartments is testament to the quality of the accommodation and the service provided.
“The next phase of Riverside promises to be even more successful, with luxury apartments aimed at graduates, young professionals and key workers.
“We believe there is a massive demand for this well-designed style of city living in the area and, coupled with the strong retail and restaurant offering, it is something the community in the area is crying out for.
“We’re already seeing a lot of interest in this second phase from existing and new investors, who are excited by the plans we have drawn up to deliver a building that is as stylish and welcoming as Riverside House.
“It really is a question of watch this space! We will be looking to start work on the development as soon as we get planning permission.”
Andrew Titterton, director of Oldham-based Studio KMA, said: “The proposal substitutes a vacant depot site with a high quality residential-led mixed use development.
“It also improves upon the pedestrian link between St Simon Street and the River Irwell, an immeasurable benefit to the surrounding residential area.
“The aim has to provide further choice to apartment living in Salford. The proposal comprises both single and dual aspect accommodation a number of which are duplex layouts.”