Turnover has risen sharply at a property development company involved in plans for what would become Manchester’s tallest skyscraper, delivered in partnership with Nobu Hospitality, the luxury brand backed by Robert De Niro.
Salboy Ltd, the development business founded by betting entrepreneur Fred Done and co founder Simon Ismail, reported a substantial increase in revenue in its latest financial results. The company is currently progressing a high profile Manchester scheme that combines hospitality, residential and leisure uses.
Earlier this year, Salboy confirmed a partnership with Nobu Hospitality on the Viadux 2 development. The project will include a hotel, restaurant and the UK’s first Nobu branded residences, marking the brand’s first residential scheme in the country.
Nobu Hospitality is supported by Hollywood actor Robert De Niro alongside restaurant entrepreneur Nobu Matsuhisa. De Niro visited Manchester in November to formally launch the Viadux 2 project.
According to accounts for the year ended 31 March 2025, Salboy’s turnover increased from £48.5m to £90.9m. The business attributed this rise to the “positive ongoing progress of the development projects”.
Salboy operates on a nationwide basis and has become one of the most prominent property development brands across Manchester and Salford. Its portfolio includes a range of large scale residential and mixed use schemes.
Despite the growth in turnover, profitability showed a modest decline. The group’s gross profit margin fell during the period, while profit before taxation decreased from £1.7m to £1.4m.
Directors stated that the development and performance of the group for the year to 31 March 2025 was considered to be in line with expectations, reflecting the ongoing delivery and progression of its development pipeline.
