Salford Quays Development Finance
Salford Quays is Greater Manchester's premier waterfront destination, Salford Quays development finance funds property projects across this thriving media and residential quarter, and Manchester Development Finance is the specialist broker that secures competitive terms for developers from our panel of 50+ lenders. Anchored by MediaCityUK and The Lowry, Salford Quays has evolved from disused docklands into one of the most dynamic mixed-use districts in the north of England.
The regeneration of Salford Quays represents one of the UK's most successful waterfront transformations. The arrival of the BBC and ITV at MediaCityUK in 2011 catalysed a wave of residential, commercial, and leisure development that continues to accelerate. Today, Salford Quays is home to over 250 businesses, thousands of residents, and a growing ecosystem of creative and digital enterprises. For property developers, the area offers a compelling combination of institutional-grade infrastructure, strong occupier demand, and proven residential values that attract consistent lender appetite.
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Salford Quays Planning Context and Development Policy
Salford Quays falls within Salford City Council's planning jurisdiction, which operates independently from Manchester City Council despite the areas' proximity. Salford's local plan designates the Quays as a key regeneration area with specific policies supporting high-density residential, commercial, and mixed-use development. The MediaCityUK Phase 2 masterplan expands the media district further, creating additional development plots for residential and workspace uses along the waterfront.
Salford City Council has adopted a proactive approach to waterfront development, working closely with the Peel Group (now Peel L&P) as the major landowner to coordinate planning and infrastructure delivery. The council's planning policies support buildings of significant height along the quays, with several towers of 20+ storeys approved in recent years. Design quality requirements are rigorous, with the council expecting developments to contribute positively to the waterfront public realm, maintain sight lines to the water, and provide active ground-floor frontages.
For development finance purposes, the distinction between Salford and Manchester planning authorities is important. Lenders will assess planning risk based on the specific council's track record and policies, and Salford's established support for Quays development provides a favourable planning context. However, developers should be aware that Salford's affordable housing requirements and Section 106 obligations differ from Manchester's, which can affect scheme viability and, consequently, the terms available from development finance providers.
Recent and Approved Development Schemes at Salford Quays
Salford Quays has seen a sustained pipeline of major development activity, particularly in the Build to Rent and purpose-built rental sectors. The area's profile has attracted institutional-grade developers and investors, creating a competitive market that also presents opportunities for experienced regional developers.
MediaCityUK Phase 2 is delivering a significant expansion of the media campus, with new studios, workspace, and residential buildings under construction and in planning. The Lightbox scheme introduced hundreds of new apartments to the waterfront, while NV Buildings and several other BTR schemes have reinforced the area's residential credentials. The Lowry Outlet has been repositioned with enhanced food and beverage offerings, strengthening the leisure amenity that supports residential demand.
Beyond the immediate waterfront, development activity has extended along the Metrolink corridor towards Eccles, with new residential schemes benefiting from the tram connectivity that links Salford Quays to Manchester city centre in under ten minutes. The Ordsall Lane corridor, connecting the Quays to the city centre via the Ordsall Chord railway link, has emerged as a secondary development zone with several mixed-use proposals in the planning pipeline.
The depth and diversity of development activity at Salford Quays provides lenders with robust comparable evidence for valuation purposes. Completed sales data, achieved rental levels, and void periods from operational BTR schemes all contribute to a transparent market that supports confident underwriting. This evidence base is a significant advantage for developers seeking finance for new Salford Quays proposals.
Salford Quays Market Statistics and Lender Appetite
Salford Quays residential values have strengthened consistently, driven by the area's improving amenity, transport connectivity, and employment base. New-build waterfront apartments typically achieve £325 to £425 per square foot, with premium penthouse units and those with direct water views commanding higher prices. Rental yields remain attractive at 5.5% to 6.5% gross, with the BTR sector achieving stabilised occupancy rates above 95% across established schemes.
Lender appetite for Salford Quays development is robust and diverse. The area's institutional credentials — anchored by the BBC, ITV, and the University of Salford — give lenders confidence in the long-term demand drivers that underpin residential values. Senior development finance is typically available at 65-70% LTC with competitive rates from 7.5% pa. The area's strong BTR fundamentals also attract specialist rental-focused lenders who may offer more favourable terms for schemes designed specifically for the rental market.
For larger schemes, Salford Quays is particularly well-suited to mezzanine and JV equity structures. Institutional equity partners with exposure to the Manchester rental market frequently cite the Quays as a preferred investment area, and this appetite can benefit developers seeking capital-efficient structures. Our team has experience arranging complex multi-tranche facilities for Salford Quays developments, combining senior debt with mezzanine or equity to optimise returns for the developer.
£325-£425
Price per sq ft (waterfront)
5.5%-6.5%
Gross rental yield
65-70%
Typical senior LTC
15
Active development schemes
Explore Connected Development Areas
Salford Quays occupies a strategic position within the Greater Manchester development landscape, connected to Manchester city centre by Metrolink, the Ordsall Chord, and major road infrastructure. Developers active in Salford Quays frequently explore opportunities in the adjoining areas.
Victoria North
20,000-home masterplan on the northern edge of Manchester city centre. Large-scale residential pipeline with decades of opportunity.
NOMA
£800M regeneration district in Manchester city centre. Mixed-use schemes around the Co-operative Group headquarters.
Piccadilly
HS2 arrival and Mayfield regeneration driving transformational change in Manchester's eastern gateway district.
Related Resources
- Our Development Finance Services — Senior debt, mezzanine, BTR funding, and JV equity
- Case Studies — Including Salford Quays BTR and waterfront schemes
- Loan Calculator — Model your Salford Quays development finance facility
- Contact Us — Discuss your Salford Quays development project
- All Areas — View all Greater Manchester development hotspots
Planning a Waterfront Development at Salford Quays?
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