In our weekly look into the world of business, Nichola Armstrong from our Corporate and Commercial team, considers the impact of property development in Manchester…

Cole Waterhouse has secured the go-ahead to build a £68 million apartment development rising up to 18 storeys high near Manchester United’s Old Trafford stadium.

The 214,000 sq ft scheme is set to be called No 1 Old Trafford and is situated next to Victoria Warehouse and the grade 11-listed Trafford Road swing bridge. The plot is roughly 400 metres from the existing metrolink stop and immediately next to the proposed Wharfside stop. This forms part of the network’s planned £350m extension to the Trafford Centre and is set to complete in 2019.

The scheme is set to provide exceptional accommodation, a vibrant neighbourhood and a much-needed public region to the area for those who live in Manchester, Salford and Trafford.