Plans are being drawn up for 300,000 sq ft of logistics space to be built next to the AJ Bell Stadium after a 15-acre site was sold.
Cole Waterhouse has exchanged contracts to acquire the land from The City of Salford Community Stadium, a joint venture between Peel Land & Property and Salford City Council.
The Manchester-headquartered company is now working on a planning application logistics space across two units, measuring 170,000 sq ft and 130,000 sq ft, with the aim of delivering these new facilities by the third quarter of 2023.
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A total of 509 jobs are expected to be created during the construction phase while there will be 684 new jobs created when the site is operational.
The project team includes C4 Projects, which will carry out architectural services, Henry Riley as project manager, Sixteen Real Estate and DTRE as letting agents and Metis Real Estate as capital markets advisor.
Further team members include XOSquare structural engineers, Terra97 Geo-environmental consultants, AXIS PED as highways consultant, Novo Integration as building services consultant and Lichfields as planning consultants.
Cole Waterhouse chief executive Damian Flood said: "Located close to Port Salford and the wider motorway network, this undeveloped site has huge future potential for a new logistics hub.
"We will be submitting a detailed planning application in June with the aim of achieving planning by September and starting on site immediately thereafter.
"As part of the development, we will also be undertaking a rebrand of the site, which we will announce later this year."
The site was purchased for an undisclosed sum.
Salford City Mayor Paul Dennett added: "We are delighted that Cole Waterhouse have made the decision to invest in Salford and acquire land from CosCos, the joint venture company between Salford City Council and Peel Land and Property.
"The sale and planned warehousing is another important development for the stadium site as part of the long term growth ambition for this area, as a key component of the Greater Manchester Western Gateway.
"The Greater Manchester Western Gateway is a strategic growth location expected to deliver over £2.5bn investment and over 25,000 new jobs over the next 25 years."
Paul Jones, partner at Metis Real Estate, said: "Located in one of the North’s most prime logistics locations, Cole Waterhouse will be delivering one of the strongest industrial schemes in the country on this site.
"We have already received speculative approaches to fund the development from some of the biggest names in the sector and will be working hard with our client in the coming months to secure a funder and deliver prime Grade A product to the market early in 2023."
Andy Backhouse, director at Sixteen Real Estate, added: "The demand for high quality mid-box industrial in this area of Greater Manchester far outstrips supply.
"Cole Waterhouse’s proactive approach to delivering these new facilities will undoubtedly appeal to organisations looking for a foothold in this area of the North West."
Addleshaw Goddard, Sixteen Real Estate and Metis represented the purchaser while Savills, Cushman & Wakefield and Walker Morris (legal) represented the Vendor.
