Linked to Manchester City Centre and the Castlefield area in particular via the Manchester Ship Canal, Salford was historically a thriving industrial centre during the Victoria era. After the Port of Manchester was closed down in 1982, the area around the Ship Canal became derelict. Luckily, in 1984, the Salford City Council purchased the land and re-branded it as Salford Quays and since that time, the area has undergone large-scale regeneration.
The area around Salford Quays is now home to many new businesses, homes, education facilities and of course, the Lowry, The Imperial War Museum North and MediaCity:UK which is home to BBC, ITV, restaurants and bars. The expansion of the Metrolink system now means that you can be in the city centre in just 11 minutes!
All of these elements have combined to make Salford Quays a very attractive proposition for buyers. The Quays affords its residents the advantages of city living, with all the conveniences of the city centre, but with a more of an urban oasis feel.
There are a range of developments at Salford Quays which began with the construction of some low rise apartments and town houses between 1985-1995, creating pleasant waterside communities. Later came the construction of the high rise apartment blocks, such as the recognisable NV buildings, as the area expanded offering range of property from luxury penthouses to smaller units with great buy to let potential. More recently there have been two residential blocks built right in the heart of Media City surrounded by the studios and BBC buildings.
It is easy to see why Salford Quays experiences consistent demand thanks to MediaCity:UK and the nearby Trafford Park; both of which are key in terms of industry in the surrounding areas. Apartments with a waterfront aspect are very popular, most of them give views all the way over to Old Trafford Football Stadium, and if demand surges, we predict that buyers will pay a premium for these apartments.
With further riverside developments along Ordsall Lane and the River Irwell in Salford completing, the Quays are slowly merging with the City Centre and offering many more exciting residential investment opportunities.
The future of Salford Quays looks bright with the completion of Customs House, the old Revenue and Customs building, due in Q4 2015. There are off-plan opportunities available and the scheme comprises 1 and 2 bedroom apartments including some duplexes as well as 2 bedroom mews houses. All of the properties will have parking and prices start at just £132,000 for a 1 bed and go up to £217,000 for the houses. The majority of the scheme will be available at prices under £200,000; presenting ideal opportunities for both first time buyers and investors.
If you have a property within the Salford and Quays area and you are considering your next move, or if you are looking to move to or invest in Salford or the Quays, you should contact Philip James Manchester. We were one of the first agents to operate in Salford Quays and know it better than other agents.
Speak to Libby Nobbs today on 0161 828 8200 or via email libby.nobbs@philipjames.co.uk