X1 Developments has become the first developer to begin construction of high-spec privately-owned residential apartments at Trafford Waters, a £2 bn regeneration project which will deliver 3,000 homes, 700,000 sq ft of commercial space and world-class leisure amenities over the next 15-20 years.

The first phase, featuring contemporary one-to-three-bedroom waterfront apartments, is already 70% sold, with phase 2 due to launch imminently. Investor interest remains strong, fuelled by assured 6% NET rental returns and short-term letting permissions, says the company.

Trafford Waters will include rental apartments backed by institutional investors, as well as homes for sale and affordable housing options. The development is supported by significant infrastructure investment, including over £10 million spent on initial roadworks, a new lifting bridge over the Manchester Ship Canal, and improvements to the road network.

Nick Sweeney, CEO of X1 Developments, says: “Getting in early at Trafford Waters offers investors a chance to benefit from the area’s ongoing transformation. With key infrastructure and amenities steadily coming online, we expect both property values and rental demand to strengthen significantly. It’s an exciting opportunity that reflects the long-term growth potential and resilience of this dynamic community.”

James Whittaker, managing director at Peel Waters which has a 600-acre masterplan for the area, says: “Our family business has been shaping Greater Manchester’s landscape for over 50 years. Trafford Waters is a continuation of that legacy, blending world-class infrastructure with a genuine community-focused approach. We’re committed to creating a neighbourhood where people feel proud to live, with exceptional standards for public spaces, ongoing maintenance, and amenities that support a vibrant lifestyle.”