£7.5m scheme to create 53 new homes in Salford

Property investment firm Knight Knox and developer Fortis Developments have teamed up to launch a new residential scheme in Salford.

The two companies plan to develop Bridgewater Gate, a 53-home project on Woden Street, after the 134 apartments in their Bridgewater Point scheme on nearby Ordsall Lane sold out.

The £7.5m Bridgewater Gate development will include a communal roof terrace, concierge services and underground parking.

Knight Knox’s commercial director, Andy Phillips, said: “Following the initial success of Bridgewater Point, I’ve no doubt that Bridgewater Gate will prove to be another hugely popular Fortis scheme and one that will help to satisfy the increasing demand of the buy-to-let investor market.

“Thanks to its impressive average buy-to-let income yield, Salford has quickly become a hugely popular destination when it comes to investing in residential property.”

He added: “The region’s continued investment in local amenities and job creation is an attractive proposition and leads to increased rental demand.”

The scheme, which will be managed by Fortis Estate Management and let by Fortis Lettings and Management, is due for completion in Q1 2017.

Fortis director Kieran Moore commented: “I am delighted to announce the launch of Bridgwater Gate to build on the recent success of nearby Bridgewater Point.

“This is the third project Fortis Developments has launched in Salford. We are confident Bridgewater Gate will follow the sales success of Adelphi Wharf and Bridgewater Point, which emphasises the confidence investors have in the city.”

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