Obsidian, Salford

Overview

Obsidian is a 26 storey, 250 home tower by Salboy and its contractor Domis, on a brownfield plot where Trinity Way meets William Street in Greengate. The address is Salford rather than Manchester, but Greengate sits on the city centre boundary, a few minutes' walk from Deansgate and Manchester Victoria, inside Salford's Chapel Wharf regeneration framework. The mix runs 31 studios, 93 one beds, 111 two beds and 15 three beds, with a gym, cinema room, private dining room and co working lounge.

Key details

• Studios to three bedrooms from £323,815
• 250 homes over 26 storeys, 31 studios, 93 one beds, 111 two beds, 15 three beds
• Gym, cinema room, private dining room and co working lounge
• 999 year leasehold, service charge estimated at £4.90 per sq ft
• Reservation fee £2,000, then 20% on exchange and 80% on completion
• Topped out March 2026, completion expected late 2026

Verta's expert insight

This is late stage off plan, which is the part of the cycle we like. The frame topped out in March 2026 and the building is being fitted out, so the construction risk that prices off plan stock has largely been spent, but you are still buying at off plan pricing rather than completed pricing.

Greengate is marketed as Manchester and priced closer to Salford, which is the arbitrage. It is a genuinely short walk to Deansgate and Victoria, and Chapel Wharf has been building out around it for a decade. Tenants do not read council boundaries; lenders and some buyers do, so expect the valuation to reference Salford comparables.

The developer quotes 6% gross. That is at the upper end for central Manchester new build and assumes the studios and one beds, which is where the yield sits here. The two and three beds price for owner occupiers rather than investors, and you should model those nearer 5% gross before costs.

Prices shown are the lowest unit available on the developer's current release and change as units sell, so ask us for the latest availability list before you reserve.

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