New Bailey’s first PRS development completes

The first build to rent apartment building at New Bailey, The Slate Yard, is now complete, bringing 90 new homes to the city.

Devised and developed by English Cities Fund (ECf) – a joint venture between Muse Developments, Legal & General and the Homes and Communities Agency, the apartment block is the first institutionally funded, custom-built PRS scheme to be delivered in Greater Manchester.

The £16m waterfront development on the banks of the River Irwell offers a mix of one, two and three bedroom apartments over 10 storeys.

In addition to the residential apartments, The Slate Yard also offers a stylish residents’ lounge on the ground floor – a shared space for work, rest and play. Residents will also have access to free coffee, Wi-Fi, SKY TV and bar billiards, so whether they’re looking to catch-up on some work, socialise with friends or just relax on the outdoor riverside terrace, there’s something for everyone.

Simon Hourihan, project manager at English Cities Fund (ECf), said: “Forward funding from Legal & General Capital enabled us to deliver The Slate Yard as soon as planning had been approved, so the completion of this first PRS building is a major milestone in the overall masterplan for New Bailey.

“Along with the commercial and leisure elements of the scheme, we’re beginning to see a real community starting to take shape at New Bailey. The apartments are a stone’s throw from Salford Central station, all the bars, restaurants and amenities in Spinningfields and only a short walk away from Manchester city centre and Piccadilly, making them ideal for city professionals. With so much available on the doorstep, we’re not surprised that there has been so much positive interest in the apartments so far.”

The first residents at The Slate Yard are expected to move in in June 2017 with work due to start imminently on the next phase of the development, which will deliver a further 199 units. This next wave of apartments will be ready for open market sale in the summer.