Article Summary

The construction of two ‘high quality and striking’ towers has been proposed as part of Manchester’s Victoria North Scheme. If approved, these new residential blocks will create 200 new homes on the edge of the city centre, bringing more opportunities to invest in Manchester property.

City centre towers

The proposal, which has been put forward by Portwood Developments, is to build two apartment buildings at 11 and 13 storeys high. As well as the 223 one-, two- and three-bedroom flats, 14 duplex townhouses will also form part of the scheme.

These new towers will be built on Rochdale Road in the location of a car park, establishing a new location for investment properties in Manchester city centre.

As well as the residential apartments, 130 sq mt of commercial floorspace, an underground residents’ car park and cycle storage also form part of the proposal.

New pathways and outdoor landscaping will also be developed to create convenient spaces for residents and visitors.

‘High quality and striking’

The application was submitted with a statement that says: “The development will create a high quality and striking residential led scheme in an appropriate and accessible town centre location.

“The redevelopment of the site, in addition to public realm and landscaping will improve the streetscene and enhance connectivity and permeability of the site with the wider community. It will integrate with adjacent developments and the surrounding area, to play its role creating an attractive and prosperous area of Manchester.”

Victoria North Masterplan

These two towers are the latest in the £4billion Victoria North masterplan, which will transform this area of Manchester, making it even more attractive for investment properties.

Victoria North is a joint project between Manchester council and the Far East Consortium (FEC). It will build 15,000 new residential properties – including opportunities to invest in Manchester property – in the north of the city.

Just recently in July of this year, a £220million project for create 1,224 homes, a 33-storey tower and a park were given the green light as part of Victoria North. If approved, the two new towers will sit alongside it in Gasworks New Town.

Opportunities for tenants and investors

Manchester has undergone such a booming population in the past decade that the construction of new homes hasn’t been able to keep up. This has led to rising property prices and growing rental yields.

The new towers will create new homes for Manchester’s large tenant population to live, while giving buy-to-let landlords high quality places to invest in Manchester property.

What is property investment?

Put simply, property investment is property purchased with the intention of generating financial returns for its buyer. These returns could be in the form of rental income through buy-to-let properties, house price growth through the future sale of the property or both. Property investments can be owned by individuals or organisations and can be short, long or medium term.

Find out more

To learn more about buy to lets in Manchester or about property investments anywhere else in the lucrative north west, contact North Property Group now.