Research from social impact developer CAPITAL&CENTRIC has shown that less than 2 per cent of the Manchester residential market is prioritising sales to owner-occupiers.
Examining new build homes on the market in Manchester city centre for £250,000 and under (via Rightmove in May 2020) CAPITAL&CENTRIC uncovered that 76 per cent were aimed at investors.
47 per cent of homes for sale appeared to be marketed primarily at investors, focusing on promoting predicted yields on investment.
A further 29 per cent were targeted solely at investors, requiring hefty deposits and in many cases specifying “buy-to-let” or “investors” only.
Just four developments in the city centre were aimed at owner-occupiers only.
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Two of those were CAPITAL&CENTRIC’s CRUSADER and PHOENIX on Chapeltown Street in Piccadilly East.
CAPITAL&CENTRIC
CAPITAL&CENTRIC previously made headlines for creating an owner-occupier community and banning investors when it launched Crusader Mill in 2017.
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Their research arrives as the developer nears completion on the Phoenix development next door – which is also reserved for owner occupiers.
Adam Higgins, co-founder of CAPITAL&CENTRIC said: “For us, banning investors has always been about creating a proper owner occupier community, where you can set down roots and get to know your neighbours. That desire to be part of a community has never been stronger as we’ve all come together in the face of coronavirus.
“Since lockdown we’ve seen loads of interest from people, especially first-time buyers, who want to live alongside other owner occupiers.
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“This research shows that many other would be buyers are still missing out to investors who are often buying up flats they’ll never visit, seeing them as investments rather than homes and either being an absent landlord or leaving them pristine and empty until the time comes to sell.
“Locals living in these flats, have bugger all chance of getting to know their neighbours, if they have any at all!”
CAPITAL&CENTRIC
Phoenix residents will be the first to move into the emerging Piccadilly East neighbourhood – recently named by The Times as one of the next greatest places to live – when the development completes in August.
The one and two bed apartments, designed by shedkm, are on average 35% larger than other properties in Manchester – another feature that has attracted buyers during lockdown.
Over half will have spacious balconies, with residents being able to access roof gardens and a dog-friendly green courtyard with fire pits and barbecues.
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Adam continued: “Most of us have had a lot more time at home over the last few months and buyers just won’t put up with poky, identikit apartments anymore.
“They want bigger rooms and outdoor space in a place that feels like home.”
PHOENIX is available with Help to Buy with prices starting at £195,000.
To find out more or book a viewing at PHOENIX, head over to the official website.
Property
Derelict Manchester office block to become ‘vital’ accommodation for homeless families
Emily Sergeant
A derelict former office block in Manchester is set to become vital accommodation for homeless families in the region.
Manchester City Council has announced that, subject to planning approval, new temporary accommodation for dozens of homeless families will be created on the site of a derelict former office block in south Manchester, off Nell Lane in Chorlton.
The Council acquired the 1.1 acre site last month with the support of the Government’s Local Authority Housing Fund.
The initiative – which is part of wider plans to boost the city’s stock of quality temporary accommodation – will see self-contained two-bedroom accommodation created for around 55 homeless families built where former NHS offices, Mauldeth House, currently stand.
Mauldeth House has been empty for several years now at this point, and had become somewhat of a ‘blight’ on the neighbourhood, attracting anti-social behaviour along the way and being targeted by squatters – but with the plans for the new accommodation, this could change for the better.
The site, and therefore the new accommodation, is said to be ‘ideally located’ for families, as it’s close to shops, schools, public transport, leisure facilities, and Chorlton Park.
The new accommodation will see families supported by a specialist team based on site to help them move on as quickly as possible into permanent settled tenancies, which is, of course, the long-term goal for many.
The Mauldeth House initiative is cited as being one example of the Council’s drive to increase its temporary accommodation stock across the city to reduce the number of out-of-area placements.
Other successful examples of this initiative include Mariana House in Whalley Range, and The Poplars in Rusholme.
It also comes after it was announced last month that homeless children in Greater Manchester, particularly those who are placed in temporary accommodation out of area for their school, will now get free bus travel to and from school.
“Mauldeth House is a great example of how we can put derelict properties to good use to benefit those experiencing homelessness, as well as making our neighbourhood look better,” explained Deputy Council Leader, Cllr Joanna Midgley.
“We are tackling homelessness on many fronts, the most important one being prevention, but we also need an increased supply of good quality temporary accommodation within the city so that if people do become homeless they are not uprooted from their social support networks.
“One of the ways we are doing this is through the innovative use of existing sites whether they are council owned or we are able to acquire them, as in the case of Mauldeth House.”
Featured Image – Manchester City Council
Property
The plans to build 107 new homes in Manchester city centre – including affordable housing
Daisy Jackson
A new community of homes – including affordable housing – is on the way to Manchester city centre.
Fresh new images have been unveiled of Ferrous, a brand-new 107-home rental scheme that will be built in Piccadilly East later this year.
The new development from Capital&Centric will include 15% affordable housing, as well as a new pocket park.
The new scheme is partly thanks to a £1.6m investment from the Greater Manchester Combined Authority, which will see a previously underused brownfield site regenerated.
The site near Manchester Piccadilly was previously owned by Transport for Greater Manchester.
Although the planning consent didn’t require an affordable housing, Capital&Centric has committed to delivering around 15% of the new homes as affordable.
Alongside the pocket park, there’ll be a small kiosk designed as a launchpad for an independent food or drink operator.
Piccadilly East was named by The Sunday Times as one of the UK’s most up-and-coming places to live, thanks to developments like Crusader Mill and Neptune Mill, plus the landmark ‘Jenga’ Leonardo Hotel.
Tom Wilmot, Joint Managing Director at Capital&Centric, said: “The GMCA funding is helping unlock new homes on a challenging city centre site while allowing us to deliver affordable homes as part of the scheme.
“We’ve also carved out space for greenery and an independent operator because small pockets of public space make a massive difference. In a post-industrial city you have to go big on planting. Kampus showed that and we want to create a mini version here.”
Construction on Ferrous is expected to start later this year with completion anticipated in 2028.
The Manc -
14th July 2020 
