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From £133,450

Albion Place

  • From £133,450
  • Gross Yield: 6.5%
  • In Construction
  • Est. Q4 2021
  • Lease Length: 250 Years

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  • Investment Highlights

    • Prime location
    • Completing Q4 2021
    • Proven Developer
    • Below Market Value
    • Low Ground Rent
    • High Specification
  • Property Description

    Located on the corner of Christopher and Windsor Street, you will find Albion Place. A handsome refurbishment conveniently located next to key transport nodes into the City Centre. The building consists of 72 one and two bedroom apartments, following an open plan design setting with ample natural lighting through wall-to-wall windows.

    Location

    Albion Place is located between Manchester City Centre and Salford Media City at Salford Quays. The site is in-between these two commercial centres. Also to the North is The University of Salford.

    In terms of distances:

    • It is just a 2-minute bus ride from the University of Salford which has over 20,000 students enrolled
    • A 3-minute bus journey to Media City UK which encompasses major employers such as Ericsson, Kelloggs, ITV & BBC
    • A 5-minute bus ride to Manchester City Centre - a city with an economic output of £48 billion a year. The city continues to grow and the economy is expected to expand by a further 96% and reach £75 billion by 2035.

    Developer

    With over 30 years of experience, Mandale Homes is the largest privately-owned developer in North East England with experience in all areas of property development, from single homes to industrial commercial spaces. Examples of their work include the GBP24.5 million redevelopment of a Grade II listed mill in Preston, Lancashire into a striking apartment complex, and Hanover Mill on Newcastle’s Quayside, which underwent a GBP31 million restoration into a 181-apartment development.

    Below Market Value

    With one-bedroom apartments starting from £134,450, this is considerably below market value in comparison to other developments in the Salford area; with one-bedroom apartments starting from £182,162 at X1 Michigan Towers or £188,404 in Regent Plaza.

    Virtual Reality

    Take a look around the apartments for yourself - use our Virtual Reality links and explore both the 1 bed and 2 bed apartment layout:

    CLICK HERE FOR 1 BED

    CLICK HERE FOR 2 BED

    High specification

    Internal finishes 

    • Windows replaced with new UPVC in a sleek grey finish
    • Veneer finished doors in gloss white with white chrome handles
    • Skirting and architraves in softwood or MDF

    Walls and ceilings 

    • Finished with plasterboard
    • Full height ceramic tiling to shower/bath areas
    • White colour paint on ceilings and woodwork
    • Natural hessian emulsion paint on walls

    Flooring

    • Wood effect vinyl plank in kitchen areas, bathrooms and En-suites

    Kitchens

    • Carron phoenix single bowl stainless steel sink with chrome mixer tap
    • Electric oven(Zanussi or equivalent)
    • Ceramic hob(Zanussi or equivalent)
    • Indesit 60cm chimney extractor hood and glass splash back
    • Space for washing machine in cylinder cupboard
    • Integrated fridge(Zanussi or equivalent)
    • Pressurised cylinder hot water system
    • Worktops and up-stands finished in black Everest crystal colour

    Bathrooms and En-suites 

    • White close-coupled toilet with chrome dual flush
    • White hand basin set in driftwood vanity unit with chrome tap
    • White bath with chrome mixed shower, riser rail and single glass shower screen
    • Tiles to full height in wet areas and half height to rest of bathroom

    Electric and Lighting

    • Standard light pendants to all rooms with low energy light fittings and chrome downlights to kitchen areas and bathrooms
    • Switches, sockets and other electrical outlets in white plastic
    • Telephone operated main front door entry system
    • SKY Q satellite facility at the back of the TV point
    • Heat detectors installed in kitchens and mains
    • Telephone outlet point pre-wired in living room
    • Pressurised cylinder hot water system and electric panel heaters for heating

    Manchester investment case

    The epicentre of the Northern powerhouse

    The Northern powerhouse is a government initiative to better connect the core cities of the North through a £7billion investment. The initiative has helped to position Manchester as a now-thriving cosmopolitan city built upon an industrious legacy.

    The city has emerged as a natural choice for investment outside of London. Between 2012 and 2024, Manchester will boast 43,000 net new jobs which is a much higher rate of growth than elsewhere in the UK, which will, in turn, contribute £67billion to the GVA.

    Economy

    The Manchester region is one of the most economically diverse inside the UK. It is the main driver of the northern economy, generating nearly 40% of total output(GVA) in the North West and 19% across the whole North of England. Currently, around 1.4million jobs are provided within Greater Manchester. The economic forecasts predict an increase of up to 180,000 jobs by 2037.

    Employment opportunities are largely focused around the city centre and adjoining areas such as Salford Quays which combined, account for 20% of jobs. Baseline economic trends indicate that the majority of employment growth would be in Salford, Manchester and Trafford.

    Connectivity

    Manchester is positioned at the heart of the UK’s revolutionary HS2 high speed rail development. The city already benefits from excellent rail links to key UK hubs and soon, journey times will be greater reduced.

    The HS2 will ensure that by 2032-2033, London will be reachable within just up to an hour journey time from Manchester. Also, the city’s new extensive tram network will open up the surrounding areas and beyond with a wide range of Hub rail investment proposed.

    Manchester airport is the largest airport outside of London. As a global hub, Manchester provides its 23.5million passengers with direct flights to 225 destinations, including all of the world’s most important cities. It carries over 60% of air passengers in the North to over 200 destinations such as Beijing and Honk Kong to name but a few.

    Property market 

    A structural shift away from the tradition of buying over renting has now resulted in owner-occupied property rates in the UK falling to its lowest ever percentage of the total property market. The young professionals of ‘generation rent’ are happy to spend an average of 15 years of their life in rental properties and it is expected that by 2032 more than half of UK homes will be rentals.

    Much of the residential development that has taken place since recovery from the 2008 recession has formalised the rental market to respond to the UK population now typically renting for longer. First time owner-occupiers are now on average, 2 years older than they were 2 10 years ago. Manchester has recognised the need for a high-quality rental sector to meet demands of these changing lifestyles and is operating as the centre of the UK rental revolution.

    There has been more investment into the private rental sector in Manchester from institutional and professional investors than in any other UK city. This Is largely due to the city’s favourable demographics coupled with the current 98.5% occupancy rates. As such, despite a short period without any change in 2021 due to COVID-19, the rental price growth is expected to make a healthy jump in 2022 followed by consistent increases accumulating to 14.2% by 2025.

  • Property Address

    United Kingdom
    M5 4DG

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Information

  • From £133,450
  • Yield: 6.5%
  • In Construction
  • Est. Q4 2021
  • Lease Length: 250 Years

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