Images are for indicative purposes only.

Background

Waterfront Quay is one of the iconic piers which makes up Salford Quays, sitting within the boundaries of St Peter Basin, St Francis Basin, Ontario Basin and Central Bay. The site has previously been used for employment purposes and is currently largely redundant and underused.

 

Given the site’s strategic location in the heart of Salford Quays and so close to MediaCity and the local tram network, it is our ambition to deliver a flagship development which brings significant benefits to both new and existing residents.

Existing planning permission

In 2016, outline planning consent was given by Salford City Council to TH Real Estate for between 600 and 800 apartments at Waterfront Quay. As such, the principle of new residential development at Waterfront Quay has been agreed by Salford City Council.

 

The plans included ten new buildings ranging from six to eighteen storeys and included ground floor commercial space, new landscaped areas, bars and restaurants.

 

Royalton Group has since purchased the site and is bringing forward proposals in a joint venture with Frogmore. Unlike the previous scheme, Cotton Quay will deliver brand new community facilities, including the harbour baths, rooftop playground and floating gardens.

 

Our plans will also make the most of an underused brownfield site to boost the number of properties being built in Salford, helping first-time buyers, young families and single-occupants to secure their ideal home.

Why do we need new homes at Salford Quays?

The UK is currently facing a housing crisis. The failure of housing supply to meet the increase in demand has led to a growing gap between salaries and house prices. This has meant large numbers of people have been priced out of the market and are unable to get a foot on the property ladder.

 

Salford needs to build 32,680 new dwellings (an average of 1,720 new dwellings per year) before 2037 to meet local housing demand. As such, there is a clear need for new homes in Salford and Cotton Quay can help address this problem.

 

Case study

 

Estate agents Hamptons International looked at average wages and house prices in the North West to work out how long it would take potential homeowners to save a 15% deposit, if they were putting aside 22 per cent of their salary every month.

 

For single occupants, it would take eight years and six months if this money was saved every month.

8

years

6

months

The amount of time it would take an average individual to save for a 15% deposit on a new home in the North West

However, our plans for Cotton Quay could help thousands of local people to get a foot on the property ladder much sooner. Cotton Quay will deliver up to 1,500 properties in a range of sizes to suit local needs, including studio apartments that are ideal for single occupants. As new-build properties, the majority will be available to purchase through the Government’s Help to Buy scheme with a deposit as little as 5%.

Allocated for development:

 

Furthermore, regional policy makers have expressed a desire for brownfield land to be redeveloped for housing where possible. The use of brownfield land, i.e. land which has previously been built on, reduces pressure on councils to release Green Belt land for development. This, in turn, helps to retain natural habitats for wildlife while preventing urban sprawl.

 

Development at Cotton Quay is also supported by the emerging Greater Manchester Spatial Framework (GMSF), which identifies suitable sites for housing and employment across the conurbation. Salford Quays is considered an ideal location for thousands of new homes due to the success of recent regeneration projects in the area as well as the Quays’ excellent public transport connections.