Major development opportunities to keep an eye on in the North.
Trafford Waters
Location Trafford, Greater Manchester
Size 26ha
Value £1bn-plus
Development potential Up to 3,000 new homes, including opportunities for private rented sector housing. A diverse business community, with approximately 69,676 sq m of office space.
Planning status Outline permission granted
Investment type/opportunity Involvement could include investor, development funder or similar. In excess of £100m on phase 1 and potential for more than £900m on the whole scheme.
Project time frame Phase 1 to be delivered over 36 months
Ambition “Trafford Waters offers the opportunity to develop up to 3,000 homes benefiting from an extensive waterfront location bordering the Manchester Ship Canal, providing a range of homes for key workers, young professionals and families. Trafford Waters’ regeneration proposals will deliver one of Greater Manchester’s largest mixed-use developments across six phases of the project and will be complemented by a planned new Metrolink extension providing direct access to Manchester city centre, plus a planned new road junction providing direct access to the M60 motorway.”
Axiom regional shopping centre
Location Wakefield, Yorkshire
Size 43ha
Value £400m-plus
Development potential 56,000 sq m of lettable retail space; Marks & Spencer, Primark, Next and Boots have contracted for flagship anchor stores totalling 21,000 sq m.
Planning status Planning permission secured
Investment type/opportunity Options include development/project funding, equity investor or joint venture
Project time frame Opening Q4 2021
Ambition Philip Lunn, managing director, Lateral Property Group, says: “Axiom is unique, being the only major out-of-town regional shopping centre to be developed in England in almost two decades. Our starting point was the old property adage ‘Location, location, location’: a 106-acre site, adjacent to Xscape and Junction 32 Outlet Shopping Village, with direct access from Junction 32 of the M62 in the heart of Yorkshire. Our end-goal is to deliver a truly innovative retail, leisure and sporting destination, combining flagship regional stores with the latest digital retail technologies, catering offers and leisure attractions. Axiom will be a constantly changing community, relevant to the new ‘Omni-Experience’ world by delivering convenience, experience, excitement and delight.”
