English Cities Fund, a joint venture between Muse Developments, Legal & General and the Homes and Communities Agency, has secured planning consent for a 135-unit PRS scheme in Salford, Greater Manchester.
The tower will be built next to ECf’s New Bailey development on the banks of the River Irwell, across the bridge from Spinningfields.
On the other side of the building will be ECf’s 90-apartment PRS scheme, which is under construction and has been forward-funded by Legal and General Capital.
Phil Mayall, development director at ECf, said: “We announced in June that we would be developing the first custom-built PRS scheme to be delivered in Greater Manchester.
“We are very pleased with the progress that we have achieved so far and are delighted to be announcing that we are planning a second PRS development at the site.”
ECf is in discussions to secure a forward-funder for the second scheme, with construction due to start in early 2016.
