Manchester site with resi potential goes under the hammer
A 14-acre plot with planning permission for up to 76 homes is to be sold in Pugh’s online property auction on 19 September with a guide price of £1.5m, almost double the price it was bought for.
Known as Blackley Mere, the plot sits off Blackley New Road and was once home to the Bowker Bank industrial estate.
Bounded by the River Irk, the land benefits from extant planning permission from Manchester City Council for up to 76 three- to four-bedroom homes to be built there.
Blackley Developments purchased Blackley Mere for £775,000 in October 2015.
The developer was granted outline permission to deliver 48 properties in 2012, then a further 28 houses in 2014. Reserved matters approval followed for both schemes in 2016.
The site remains undeveloped.
This is what housing could look like on the site. Credit: Appeal PR
Edward Feather, associate director at property auctioneer Pugh, said: “This is an ideal location to develop family homes.
“The quiet riverside and woodland environment make it a really attractive setting for new houses that is only half a mile from the nearest Metrolink stop at Bowker Vale and just four miles from Manchester city centre”, he continued.
“It’s a fantastic investment opportunity and, not surprisingly, we’ve already seen considerable interest from potential buyers.”
Bidding commences on 19 September and closes on 20 September.
So they bought the site did nothing with it and doubled thier money. Likely this will be back on sale in 5 years for 3 million.
By Capture 25
Not sure I’m right with this but hasn’t that site got peat below it, hence not viable
?
By Anoy