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North West developer and construction company Legacie Developments has revealed plans to build a £40m residential scheme in Salford Quays.

The Liverpool firm sealed a deal to acquire the landmark site located on the junction of Ordsall Lane and Dyer Street adjacent to the River Irwell, and the move marks its first move into Greater Manchester.

The site has already been granted planning permission for 196 residential apartments and a commercial unit.

The multi-million pound development, which will complement the significant investment already underway in the Salford Quays district, will be known as ‘Merchant’s Wharf', in a nod to the industrial heritage of the area.

John Morley, Managing Director of Legacie Developments, said: “We are incredibly excited to announce plans for Merchant’s Wharf. The area between Salford Quays and Manchester City centre is experiencing a real renaissance with huge investment and regeneration underway and we are pleased to be playing our part.

"Our development, comprising 196 state-of-the art apartments, will add further quality to the residential offer in the area. This is Legacie’s first development in Greater Manchester and we are looking forward to starting work.”

Legacie Developments is partnering on the project with investment consultancy RWinvest. Together they have developed a long-term strategy that will see them targeting further development opportunities in Greater Manchester in the coming years.

Michael Gledhill, director at RWinvest, said: “Merchant’s Wharf will be a high-quality project delivered in partnership with Legacie Developments, who have an excellent track record of completing their developments in good time.