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Legal & General in second Salford apartment scheme

April 15, 2016

Pensions and investments firm Legal & General has bought a second plot at the new Bailey site in Salford, enabling it to have another built-to-let development constructed there.

The company, acting in partnership with Dutch pension fund PGGM, will add 135 new homes in the block, in addition to the 90 next door.

It means more local construction jobs will be created in what is a booming sector of the economy in the heart of Greater Manchester, with high demand for rented apartment accommodation.

New Bailey is located a short walk from Salford Central Station and just across the River Irwell from the Spinningfields business district in Manchester City Centre.

Central Manchester and Salford have seen rapid residential development in recent years, with thousands more homes planned in a number of different schemes..

The new flats mean Legal & General will soon have a portfolio of 800 rental apartments across the UK, worth £250 million.

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