Cross Lane, Greater Manchester_Property for Sale

Cross Lane, M5 4BN, UK

Cross Lane, Greater Manchester

Asset description

• An exceptional 538-bed Purpose Built Student Accommodation development opportunity located within Greater Manchester, on the doorstep of the University of Salford’s main campus and just a 20-minute walk from Manchester City Centre

• A landmark development located in Manchester, the UK’s second largest student market presents a land or joint venture opportunity, with full planning permission achieved, detailed design up to stage 4 and 0% on-site affordable accommodation

• 27-storey scheme comprising a favourable composition of 65% ensuite clusters, 34% studios, and 1% twodios aligning perfectly with both the domestic-led Salford sub-market and the broader Manchester market

• Market leading amenity provision comprising 717 sqm of communal areas, study space, gym, multifunctional yoga studio, cycle store and unrivalled views of the Salford and Manchester city skylines from the 19th floor sky garden

• The site provides immediate accessibility to Manchester, the UK’s second largest student market, with both The University of Manchester and Manchester Metropolitan University campuses reachable in under 25-minutes travel time via transport from Salford Crescent Station

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Attributes

Beds

538

Floors

BREEAM

Excellent

EPC

Grade A

Building area net

170,898 sf

Media

Investment highlights

• Best in class design with a highly sustainable, future-proofed development, targeting BREAAM ‘Excellent’ and EPC “A”

• The Manchester market has seen an exceptional rise in full-time student numbers with 21% growth in the last 5 years whilst facing an acute undersupply of PBSA beds with just 33% of the student population able to access PBSA, equating to a student to bed ratio of 3:1

• Optimised delivery programme supported by a market leading professional team, with a start on site anticipated for May 2025 with scheme opening for the AY28/29 academic year

• Having secured planning, Q Developments are now seeking either a sale of the freehold ownership of the site or continuing involvement in the project through a joint venture structure