Market Leads & Opportunities
PLD to buy Salford site
Progressive Living Developments (PLD) is set to acquire a new site in Salford.The current plans for the Gorton Street plot is to create a tower in excess of 35 floors to provide accommodation for both residential and leisure uses.Eight existing railway arches would also be repurposed.The 0.42-acre site is operated as a car park. Heads of terms have been agreed with Network Rail, the land owner, with the deal scheduled to complete imminently.An application is expected to be submitted to Salford City Council before the end of the year.The deal comes on the back of PDL’s recent purchase of Victoria House in Stockport, which has also been earmarked for redevelopment into residential units.Gorton Street was marketed by JLL on behalf of Network Rail. PLD acted for itself with Gately LLP as legal advisers.
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