The English Cities Fund joint venture has wrested an historic Salford site from rival developer McAleer & Rushe and is hatching plans for a 250,000 sq ft office project.
ECf – a jv between Muse Developments, Legal & General and the Homes & Communities Agency – will take control of City Wharf following a decision to compulsorily purchase the site by Salford city council.
McAleer & Rushe bought the site in 2007 and secured planning consent for a 112,000 sq ft office block and a 271-bedroom hotel in 2012, but it failed to commence development.
Salford council was granted blanket CPO powers over the 50-acre Salford Central site in March 2012 by communities secretary Eric Pickles, to be used where agreement on property transfers could not be reached with landowners in the area.
The new project will comprise the next phase of the New Bailey portion of Salford Central, where the 125,000 sq ft One New Bailey (pictured above) is currently under construction.
Law firm Freshfields has shortlisted One New Bailey for its 100,000 sq ft northshoring requirement in the city.
ECf development director Phil Mayall said: “New Bailey is moving forward at pace. The acquisition and subsequent demolition of City Wharf is a big part of the scheme and we are very pleased.”
A spokesman for McAleer & Rushe said: “We had a hotel occupier lined up and, given the much improved economic climate, would have progressed this scheme if it had not been for the CPO.”
The jv will now hold a design competition to find an architect.
