A Manchester property developer has sold an apartment block in Salford for £3.5 million doubling his initial investment.
Nabeel Mussarat said he netted the profit after he purchased of the building for £1.6m.
The site has been sparsely populated for the last few years, with 11 of the 41 apartments and eventually purchased by Mussarat during an effort to build up his personal portfolio that consists mainly of major Manchester properties.
The building is located adjacent to Salford Quays, which is a creative and media hub home to the BBC and ITV.
Nabeel said due to the implicated costs of replacing the cladding previous developers and companies have avoided Quay House.
Nabeel said: “After holding Quay House for 3 months and evaluating the possibility of full property viability, it was not a possibility moving forward and I am thankful that we were able to turn a profit.
"The building has great potential and is in an ideal area that has seen incredible development over the last 10 years, so it is just a matter of time before Quay House is involved in that.”
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