Manchester developer Panacea Property Development has just gained planning for the mixed-use project to build offices and extra care facilities on the 2.1-acre site.

Phase one for a 47,600 sq ft headquarters and business centre office development is understood to be worth about £12m.

The scheme has been forward funded by Aviva Investors.

Gareth Riddell, co-founder and director of Panacea Property Development, said: “Panacea has used its blend of unique skills and experience to bring the Riverway Stafford development to fruition and has built an enviable portfolio of complex sites where we can add real value.”