Manhattan is a development comprising 42 one and two bedroom Manchester apartments in a central location, close to the Chinatown district. Each apartment combines contemporary and industrial architecture, to give a unique and premium feel, complementing its prime position in the city.
Manhattan comprises 42 one and two bedroom apartments furnished to the highest specification including floor to ceiling windows and private terraces. It is surrounded by the very best that Manchester has to offer; including Manchester Art Gallery, the colourful Chinatown district, a host of cinemas, restaurants, theatres and the business district.
Due to its proximity to the business district and Manchester’s cultural attractions, these apartments will be popular with young professionals, so we are predicting excellent yields and occupancy rates are achievable.
Manchester is continuously voted one of the best cities in the UK to live in. In The Economist Intelligence Unit’s Global Liveability Survey it was ranked as the best city in the UK, scoring well on criteria such as the quality of education, health care and environment.
With these kinds of accolades to its name, it’s no wonder that so many people are wanting to live in Manchester, and the demand is clearly reflected in rental yield figures and occupancy rates. Manchester currently boasts a 98% rental occupancy rate, and at 7.8%, the yields are some of the highest in the country. Not only are people wishing to live in Manchester, but many businesses are relocating their headquarters to the city too, which has resulted in booming business districts such as Spinningfields and MediaCityUK.
In part due to all the regeneration occurring in Manchester, it is now gaining significant attention from overseas investors. German investors have named Manchester as the most important city outside of London for investment, and German bank Deka have paid £164m for the new office block at One Saint Peter’s Square. Manchester is also the largest economic area outside of London with £56 billion gross value added (GVA). The flow of cash into Manchester does not look to be subsiding, as Germany is expected to spend another £200m in the city before the end of the year. UK property is being seen as an attractive prospect to German investors due to the drop in the sterling in comparison with the euro. Even before Brexit though, German investor Hansainvest bought the 280,000sq ft Amazon distribution hub at Manchester City Airport for £35m.
Research by Knight Frank has shown that property prices in London are beginning to hit an affordability ceiling, and investors are looking at properties elsewhere in the UK. It’s not just overseas investors that are recognising the benefits of buying property in Manchester. Read more about the regeneration of Manchester throughout the years.
Rental Yield Per Annum 7%
Ground Rent Per Annum
£300 1 Bed