Split across two buildings, Affinity Living Embankment West won the prestigious Residential High-rise Development UK award at the 2019/20 UK Property Awards. Part of a £10 million regeneration project – one of the most impressive undertaken in Manchester city centre in recent years – Affinity Living Embankment West will become the highly desirable residential development at the very heart of this new district. Embankment West is a great opportunity for Manchester buy to let investment.
Embankment West is perfectly located in the heart of Manchester City Centre; it is just a 2 minute walk from Victoria Train Station and only a stone's throw away from the Arndale shopping centre. Due to the location alone, we expect high levels of rental demand; with an increasing need to live in a prime location. Your tenants will be within walking distance of the city's financial district, main shopping street and major transport links.
The development boasts an abundance on amenities such as; an impressive state-of-the-art gymnasium, private meeting rooms, a co-working space, luxury food & beverage outlet as well as an outdoor seating area. With these on-site amenities and central location, these apartments will generate high rental yields.
There is an excellent payment plan in place; with just 25% required on exchange and the remaining 75%, on completion.
We expect the apartments to generate impressive rental yields of up to 7%.
The ground rent is just 0.2% of the asking price and there is an anticipated service charge of £3 per sqft.
Since 2018, Manchester has successfully achieved a higher rental and higher price growth than the UK average. Therefore, over the next few years, you should achieve some of the UK's highest short & long-term property investment returns, perfect for Manchester buy to let investors.
Furthermore, the city is experiencing a significant undersupply, with Manchester’s population rising at 15 times the rate new homes are currently being built and City centre apartments getting up to 10 enquiries per property – with some tenanted within one hour. Therefore, now is the perfect time for investment in Manchester.
Manchester's property market boasts an impressive history; with property price growth in Manchester exceeding the UK average for five years in a row (2013 - 2018); in the 12 months to June 2018 alone, average property values in Manchester increased by 7.4%; and prices of apartments increased 51% in six years between November 2011 and November 2017.
Additionally, even though the pandemic has impacted the UK’s housing market, Manchester has remained a hotspot for property investment. Despite the freezing of the property market during lockdown,. Manchester remains expected to record a house price growth of 4.1% during 2020.Meanwhile, the UK average is 2.9%.
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