Unite Students has opened the doors to its latest development in Manchester. As the UK’s largest developer of purpose-built student accommodation, this residence is just the latest jewel in Unite Student’s portfolio. And with an £8.25milion investment, this latest project shows real faith in the city’s student housing market and buy-to-let property in Manchester following the coronavirus pandemic.
Luxury student living
Located in New Wakefield street and just a short walk to both Manchester Metropolitan University and the University of Manchester. The 32-storey building sits on the site of a former garage and music venue named Artisan Heights.
The development boasts the ultimate in luxury student living. Onsite amenities include two common rooms with study areas, a cinema room, meeting rooms, karaoke room, tea and coffee stations, laundry, bike store, and games areas.
A good outlook for Manchester’s student property sector
Such a major investment into student property shows there is positivity about the future of Manchester’s student accommodation sector. With concerns about the spread of coronavirus in education facilities, there were worries that some students may defer their studies.
But it seems these fears were unfounded. It now looks likely that just as many students will return to Manchester as in previous years. With demand remaining high, investors into student buy-to-let property in Manchester can breathe easy again.
Proving its resilience
Just the fact that Unite were able to complete this major development during a global pandemic shows the resilience of Manchester’s property market.
Matthew Loughlin, Group Development Director at Unite Students admits that the development “has been one of our most challenging to date”. Despite these challenges, his colleague Luke Brooker, Project Development Manager at Unite Students, spoke of the pride the organisation felt at being “able to open the doors of this fantastic building to students, especially in these uncertain times.”
It is not just this project that has proven Manchester’s resilience during covid-19. Over the past 12 months, Manchester has seen the second highest house price growth in the UK at 6.3% – way above the UK average of 4.3%
Such a strong property market means there are exciting times to come for investors into buy-to-let property in Manchester. If successful development projects such as Unite Students can be completed and house prices can boom so much during a global pandemic, just imagine what the next few years could bring.
If you’re interested in investing in buy-to-let properties in Manchester – whether for students or anyone else – contact North Property Group today.