Cross Lane, Salford, M5 4BN, UK

Cross Lane, Salford

Asset description

• 538-bed Purpose Built Student Accommodation development opportunity in Salford, on the doorstep of the University of Salford’s main campus

• 27-storey scheme comprising 65% ensuite clusters, 33% studios, and 2% twodios, aligning perfectly with the domestic-led Salford sub-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”

• Project Sponsor, Q Developments, have over 28-years’ experience as an award-winning developer with completed projects spanning PBSA and residential mixed-use developments

• The Salford market has seen an exceptional 35% rise in full-time student numbers in the last 5 years whilst facing an acute undersupply of PBSA beds with just 27% of the student population able to access PBSA, which equates to a student to bed ratio of 3.71:1 that is well above the UK average

• 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 a partner to deliver the scheme with a flexible approach from either selling the freehold ownership of the site or continuing to manage the delivery of the project on behalf of a funding partner