X1 Michigan Towers is an exciting new flagship development, which is set to change the Manchester skyline. Our new development features four iconic towers, each with unique façades with a stunning architectural design. Each tower is set within a modern landscaped public realm, which features cafe spaces, restaurants, retail and office space alongside the residential offer. With heights ranging between 14 and 35 floors, the towers provide both sweeping views of MediaCityUK, Salford Quays and central Manchester. This mixed-use scheme is an ideal Manchester property investment opportunity and is truly unique in its contemporary design and perfect quayside location.
Situated in the heart of MediaCityUK in the iconic Salford Quays, home to Coronation Street as well as the likes of the BBC, ITV, Ericsson and Kellogg’s, this new phase of development complements the existing towers, and fits perfectly within the bustling business and leisure community. This development presents an exclusive opportunity to invest in limited luxury property located at the very heart of Peel’s thriving MediaCityUK project.
Overlooking both Salford Quays and Manchester city centre these apartments offer stunning views across the vibrant quayside towards the UK’s second city. Offering luxury quayside living in the heart of Peel’s thriving MediaCityUK, this development is perfectly situated for those working in the creative and professional sectors.
Residents will benefit from a gym and cinema, as well as retail and leisure facilities located on-site.
There are an abundance of local amenities within a 5 minutes walk from the development, such as; Prezzo, The Dockyard, The Lowry Mall/Theatre, and a range of eateries. Less than a 20 minute drive away is the Manchester Arena, The Trafford Centre, and Manchester Arndale.
Businesses are Re-locating to Manchester
Salaries and operating costs in Manchester average 30-40% less than London; additionally, businesses in the city can also take advantage of high quality office space and low attrition rates. This means that organisations with back office functions benefit from world-class quality at a much reduced cost. These factors have ensured Manchester be named by KPMG as Europe’s most competitive business location time and time again.
Manchester boasts one of the largest numbers of business service organisations in Europe and has the largest professional services sector outside of London. These organisations employ over 250,000 people across various specialisms. This highly skilled workforce of accountancy, insurance, tax, HR and legal experts enables companies in Manchester to access the people they need.
Over 35,000 people graduate from a Manchester university each year, producing young professionals well-versed in a wealth of employable skills. With graduates holding expertise in languages, business management and data analytics, businesses in Manchester have an extremely healthy talent pool to choose from. Manchester’s universities are also regular collaborators with local businesses, helping them access bespoke training courses and cutting-edge research.
With around 100,000 students in the city, Greater Manchester is home to one of the largest students communities in Europe. Students flock to Manchester from all over the globe, with international students from almost every country on Earth living here. Manchester also has a fantastic graduate retention rate with over half of all higher education leavers deciding to stay in the city, creating great opportunities for buy-to-let investors interested in renting to young professionals.
Manchester Property Market
Since 2015, house prices in Manchester have increased by 32.5% and are set to grow by another 22.8% by 2022. Average rental yields in Manchester are currently reaching as high as nearly 8% in the M14 and M11 postcodes.
Completed in Manchester last year was 27 development schemes, the survey found. The highest level since 2006 and second highest since 1999. This high volume of developments will certainly be of benefit for investors looking for their next property investment in Manchester.
With over 8,800 residential units, over 2 million sq ft of office space and 400,000 sq ft of retail, hotel and leisure space are currently in the pipeline, 2020 is looking like a truly ground-breaking year for Manchester’s property market. The residential market leads the way in driving this surge of development work as fast population rises in Manchester have caused a significant increase in demand for living space in the city.
Manchester has undergone 7% population growth during the previous decade, reaching over 2.7 million in 2019. Manchester’s population is expected to increase consistently over the next few years, reaching more than 3 million by 2035. This has led to high demand for housing in a city without enough supply. Consequently this is good news for property investors as it is creating a perfect investment opportunity; Manchester is the UK’s best prospect for residential price growth over the next 5 years.
To find out more about Manchester property investment or anywhere else in the north, contact the region’s top property investment company North Property Group today.
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