Downtown- Manchester
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Downtown Buy To Let Manchester Property – 2 Bedroom
Downtown is a new buy to let Manchester property situated on the banks of the River Irwell. Described as a ‘hotel-style’ development, residents will be able to enjoy the tranquility of the development’s location, yet also rest in the knowledge that it is well-connected, and only a few minutes’ walk from Manchester city centre.
Key Figures
£197,146Starting Price
7%Net Yield
Q4 2018Completion Date
Investment Details
Downtown will boast premium facilities such as a fully equipped gymnasium, a concierge service, car and bicycle parking and a communal roof garden. Downtown will be made up of 368 1,2 and 3 luxury bedroom apartments, and six individual but interlinked blocks that will vary from 4 – 14 storeys. Phase 1 of the development was completed in Q4 of 2018.
Downtown aims to cater for the needs and wants of an ever-growing aspirational Mancunian population, delivering premium quality and comfortable living with attentive service and facilities to cater for residents’ needs.
Downtown Buy To Let Manchester Investment Facts
- Purchase price for two bedroom apartment £197,146 (after 5% discount has been applied) - 7% yields achievable - Close to Manchester city centre - Communal roof garden - Car and bicycle parking - Adjacent to the River Irwell - Spa and steam rooms - Concierge serviceManchester as a place to live and invest in
Manchester tops the tables when it comes to rental yields that can be achieved from by to let properties. The average rental yield that can be achieved in Manchester is just over 6%, and there is a good opportunity for capital growth. Predicted house price growth in Manchester between 2016 and 2020 stands at 24.6% and rental income for the same period is expected to grow by 22.8%. Manchester investment property is worth considering if individuals wish to achieve both good rental yields and capital growth.
Manchester’s ongoing regeneration now makes it appealing not only to investors. Businesses are also seeing the appeal of Manchester, and many have moved their London offices to the northern city. Corporations that have settled in Manchester include RBS, the BBC and the Guardian. With an influx of businesses relocating to Manchester, it has attracted a wave of young professionals and 41% of city centre dwellers are under 35 with a degree – the highest of all city centres. It’s this particular demographic that is attractive to landlords, as they often have a good income but are not necessarily looking to buy their own property just yet.
The Numbers
Ground Rent:£395 p.a.
Number of Units:No units left
Service Charge:£2,250.54 p.a.
Prices:From £197,146
Leasehold:999 years
Open Plan Living Area
The living area has luxury vinyl planks throughout, ceiling spotlights, wall mounted electric radiator, multi paned double glazed windows, TV, phone & satellite points.
Kitchen
Modern kitchen with matte finish charcoal wall & base fitted units, contemporary work surfaces, integrated Indesit fridge, freezer, oven, hob & extractor. Stainless steel sink with drainer & mixer tap.
Bedroom One
Large double bedroom, carpeted, ceiling pendant light fitting, wall mounted electric radiator, TV point, double glazed window, door to en-suite bathroom. En-suite Bathroom
Three piece white Roca bathroom suite with stainless steel Grohe fittings, tiled flooring, partially tiled walls, wall mounted heated towel rail, display shelf & extractor fan.
Bedroom Two
Large double bedroom, carpeted, ceiling pendant light fitting, wall mounted electric radiator, TV point, double glazed window, door to family bathroom.
Family Bathroom
Three piece white Roca bathroom suite with stainless steel Grohe fittings, tiled flooring, partially tiled walls, wall mounted heated towel rail, display shelf & extractor fan.
Property now sold.
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