Cortland buys 50-storey Manchester BTR tower
Cortland, together with funding partner Madison International Realty, has bought a 50-storey build-to-rent (BTR) property currently under development in Salford, Manchester, from Renaker.
The building, which will offer 559 one-bedroom and two-bedroom flats with more than 25,000 sq ft of amenity space, is part of the Greengate ‘Colliers Yard’ masterplan. It is expected to complete early in 2024.
The glass-clad tower has a three-storey brick podium level and will include shops, restaurants and bars. The scheme will also include the creation of a public park.
Daren Whitaker, managing director of Renaker, said: “Following a smooth and easy transaction with Cortland, we are excited to welcome them to Colliers Yard and the developing Greengate community of Salford. This is an important and exciting further step in the regeneration of the wider Greengate masterplan to deliver an aspirational and new neighbourhood to Salford and Manchester city centre. We can’t wait to see Cortland at Colliers Yard come to life.”