Commercial law firm Kuits has advised the University of Salford on the sale of a major residential development site in the city.
A former student village for over 40 years, the 36-acre Castle Irwell site has been sold to prominent developer Salboy.
Previously home of the Manchester Racecourse until 1963, the site has planning permission for 500 homes and 25,000 sq ft of commercial space, with additional proposals for a supermarket and primary school as part of an overall £100m development.
Kuits commercial property partner David Moroney and solicitor Matthew Wallis advised on the sale. A team at BLM acted for Salboy on the purchase, led by partners Stephen Lintott and Tessa Leonard.
David Moroney said: “The sale of the site at Castle Irwell is hugely significant and signals the next chapter in the story of an area with a rich history of serving the community.
“Kuits is pleased to have advised on another development which will have a great impact on the future infrastructure of the region and we look forward to seeing the regeneration plans come to fruition.”
Tim Claxton Property acted as agents for the University of Salford.