A site earmarked for a 29-storey apartments tower in Salford Quays has been acquired, with work now set to start on site "imminently".
Cole Waterhouse has secured a a funding package with Octopus Real Estate to acquire the 0.5-acres of land on the corner of The Quay and Anchorage Quay.
Domis Construction is due to make an imminent start with demolition on the site.
The 250,640 sq ft, L-shaped residential scheme was given the go ahead by Salford City Council in October last year.
Designed by Chapman Taylor architects, the building will comprise of 29 storeys, across ground, mezzanine and 27 levels of residential accommodation which will offer one, two and three-bedroom homes.
The scheme will include two landscaped terrace gardens on both the mezzanine and level 19 for residents and rooftop penthouse apartments that have extensive private terraces.
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At ground level the building will offer 4,000 sq ft of commercial space and extensive areas of public realm and landscaping as well as cycle storage facilities.
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Cole Waterhouse has also agreed to contribute £1.3m towards local projects.
Chief executive Damian Flood said: "Having purchased the Anchorage Gateway site we can now press ahead with the demolition.
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In association with headline sponsors Brewin Dolphin, CMS, LDC, PwC, Robert Walters and category sponsor Bolton School.
"The development of the site forms a key part of the area’s wider regeneration programme. Located close to the tram stop at the entrance to Salford Quays, the scheme occupies a prominent position and when completed in 2023 will provide exceptional living space for the BTR market in an area that is highly sought after."
Auxilium Real Estate advised Cole Waterhouse on the funding agreement and Allsop’s advised the company on the site acquisition.
The land was sold by clients of CCLA Investment Management, represented by JLL.
The delivery team includes WSP|Indigo Planning, structural engineers Renaissance, M&E contractors Novo, landscape architects Exterior Architecture, project managers/quantity surveyors Henry Riley with legal advice from Ward Hadaway.