Phase Three of £30m Riverway in Stafford Submitted for Planning
Manchester based Panacea Property Development has submitted a planning application for Phase 3 of its prime £30m mixed use development at Riverway, Stafford. The application is for a part four and five storey building consisting of 80 residential apartments with associated access, parking and landscaping.
The proposed apartments will be targeted at the over 55’s and will be available for either rent or purchase. The scheme has been designed by MCAU in full consideration of HAPPI Design Principles and will include generous internal space standards, balconies and outdoor space. The design also incorporates plenty of natural light, adaptability and ‘care aware’ design with circulation spaces that encourage interaction and avoid an ‘institutional’ feel providing access to shared facilities and community ‘hubs’.
Gareth Riddell, Co-founder and Director of Panacea Property Development says:
“Panacea has used its blend of unique skills and experience to bring the Riverway Stafford project to fruition and this scheme is just one of a portfolio of complex sites we’re developing out.
“This latest phase submitted for planning means that we’re able to satisfy Stafford’s requirement for accommodation for the over 55’s. We also hope to be in a position to progress the final phase of development before the end of the year.”
Phase 1 was £12m headquarters for educational support company, Entrust. The scheme was forward funded by Aviva Investors, with capacity for 450 people and Entrust took occupation in October 2015. The 47,600 sq ft (4,422 sq m) headquarters and business centre office development, let on a 30 year lease, is located on a site of 2.1 acres (0.85 hectares).
Phase two of the development consisting of a 15 unit supported living building on the prominent 1.6 acre (0.64 hectare) front site was completed in March 2016. This phase was funded by internal Panacea Property Development resources and sold to BAE Pension Fund.
Panacea Property Development has full planning approval for Phase 4 of 15 supported living units in one building and will be in a position to make a further announcement on this phase before the end of the year.
Zerum acted as planning consultant to Panacea on Phase 3 and 4 of the development.