Flat for sale in Manchester, United Kingdom
New Heritage Building Conversion Historic Hunts Cross Neighbourhood Less Than 2-Minute Walk to Northern Quarter & Arndale City Centre One Bedroom Apartment on Basement Level High Quality Finish Throughout 30% Funds on Exchange 10 Apartment Development - 9 Available Completion December 2018 250 Year Leasehold 377 sq/ft Apartment The Brooklyn Lofts is a exiting opportunity to invest in the transformation of one of Manchester's heritage buildings. The development will bring this building in to the cutting edge of 21st Century living spaces. Mason Street is located in the historic New Cross neighbourhood which is currently undergoing an exciting regeneration, as it is the last area to be reinvigorated in the city centre with huge scope for capital appreciation as the regeneration progresses. Situated less than 2 minutes from the Northern Quarter and Arndale City Centre, this development will compromise of 10 luxury apartments over 5 floors and as you can see from the artists impressions the looks, features and specification of the apartments are set to make this a fantastic place to live or invest in. Development Fast Facts; Leasehold - 250 Years Service Charge - £600 per annum Ground Rent - £250 per annum Apartments Available - 10 Price Range - From £158,340 to £256,500 Floors - Basement to 3rd Floor Bedrooms - 1 and 2 Bedroom Apartments Available. Location; Manchester, the second city of the UK and centre of the economic “Northern Powerhouse”, is a thriving cosmopolitan city, built upon an industrious legacy. Manchester is a city with many impressive statistics to its name; • First industrialised city in the world • Home to the first public library • Birthplace of the world’s first computer • Has the world’s oldest railway station • Birthplace of Graphene - the world’s thinnest material Manchester’s rise to be a world leading modern economy has seen Oxford economists predict that employment growth in the city over the next five years will exceed many international capitals including Paris, Berlin and Tokyo. Significant investment is being made across Greater Manchester into all sectors of the economy. Notable infrastructure spending shall make Manchester one of Europe’s best integrated cities with seamless transport solutions for its citizens. Further private and public sector investments across the city from both domestic and international investors is testament to the city’s economic vitality and its status as a world class business and investment location, such as; - £650m Media City - £1.35bn St John's - £800m MAG - £800m Noma - £1.5bn Manchester Life - £600m New Bailey A structural shift in the UK property market away from the tradition of buying over renting has now resulted in owner-occupied property falling to its lowest ever percentage of the total UK property market. The young professionals of “Generation Rent” are happy to spend an average 15 years of their life in rental property. It is predicted that by 2032, more than half of UK homes will be rentals. One of the main factors driving this shift is the increase in house pricing. According to Jones Lang Laselle, there will be a 26.4% increase in Manchester house prices in the next 5 years. It is no wonder young professionals would prefer renting. - 20% Growth over the last 10 Years - Forecast another 20% over the next 10 years Manchester Property Market; The growing population and increasing affluence has meant a strong demand for quality city centre rental properties. However, this has been met by a structural under-supply of properties for this rising population. With very little new development in recent years, there has been minimal uplift in the provision of rental stock. This has led to an abundance of demand compared with constrained available supply and has fuelled double-digit rental growth. Vacancy rates are minimal and many tenants are asking landlords for longer leases to try and hedge against rent rises. This strong lettings market has encouraged more buy-to-let investors and also spurred interest from institutional landlords from the UK and overseas. Additionally, this demand for investment property has seen good growth in capital values and a very liquid resale market. New Cross; New cross is located near the trendy Northern Quarter, one of the city's most vibrant districts, which is rich with entertainment. NOMA is a £800 million, 20-acre (8-hectare) mixed-use redevelopment scheme in Manchester. It is the largest development project in North West England and overall is the one of the largest development in the UK. NOMA focuses on revitalising and opening the northern area of Manchester city centre which has not undergone the redevelopment seen in other central areas of the city. The development involves the creation of 4 million square feet (400,000 square metres) of office, residential, retail, leisure and hotel space. New Cross is strategically located at the north eastern edge of Manchester City Centre, just beyond the inner ring road. This area has increasingly become a focus for development activity and residential growth in recent years. To the south, east and west of New Cross are key regeneration priorities that include NOMA and the Ancoats and New Islington neighbourhoods. Ancoats is an inner city area of Manchester, North West England, next to the Northern Quarter and the northern part of Manchester city centre. Historically in Lancashire, Ancoats became a cradle of the Industrial Revolution and has been called "the world's first industrial suburb". For many years, from the late 18th century onwards, Ancoats was a thriving industrial district. Since the 1990s Ancoats' industrial heritage has been recognised and its proximity to the city centre has led to investment and substantial regeneration.