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
Inside the most expensive apartment for rent in Manchester that looks like a five-star hotel
Daisy Jackson
A new apartment has gone on the rental market in Manchester that’s immediately become the most expensive in the city.
The luxurious penthouse has three bedrooms, its own cinema room, and access to an 18m swimming pool, jacuzzi and steam room.
Its fixtures and fittings are so lavish, it looks like a five-star hotel – and for good reason, because this apartment actually belongs to the residential arm of a premium aparthotel brand.
Coming in at a mere £15,000 per month (the ‘mere’ was sarcastic), this swish home is part of CitySuites II in Embankment West.
It’s actually so expensive, it comes in a whopping £2,500 a month more expensive than the next most-expensive apartment, which is one of the Deansgate Square penthouses.
The new Embankment West neighbourhood is in Salford, just across the river from Deansgate and Spinningfields.
And while CitySuites is maybe best-known for its aparthotel, short-stay offering, they also have a number of long-term residences – like this particular fancy SuperSuites penthouse.
The poolThe open-plan living space at the penthouseA huge bathroomThe dining area
It includes an open-plan living space with a fully equipped designer kitchen, a dining area, and a plush lounge and cinema room, with views of Manchester Cathedral from one of two balconies.
There are three bedrooms, each with hotel-quality king-size beds, a spa-inspired bathroom with rainfall shower, smart technology, high-speed Wi-Fi, flat-screen TV, and plenty more.
And it gets the future tenant access to CitySuites II’s premium facilities, like an 18m swimming pool, jacuzzi and steam room, a 24-hour state-of-the-art gym, and a 24 hour concierge.
The apartment also comes with private car parking, and private lift access.
Plans officially submitted for ‘vibrant’ new food hall in Wythenshawe
Emily Sergeant
Are you feeling hungry? Good, because a new food hall is on the horizon.
That’s right – plans to transform Wythenshawe Civic have taken another exciting leap forward this week, as Manchester City Council and placemaker Muse have submitted a planning application to bring a brand-new food hall to the town.
Set to be housed within the three units next to the former Peacocks store – which has now been demolished – the new food hall will become a ‘vibrant’ destination for independent and local food vendors to attract people with ‘delicious and diverse’ offerings.
Developers also hope the new food hall will keep the suburban Manchester town’s centre ‘bustling’ throughout the day and into the evening.
The announcement that the new food hall is in the works comes as part of the already-announced plans for Wythenshawe Civic – with work to soon begin on everything from the public realm, and outside space, to the vacant office space above the existing Iceland-store, which will also be transformed into modern new workspace to support local start-ups and bring new jobs into the town centre.
Developers also recently submitted three separate applications to create 422 new affordable homes for social rent across three locations in the town centre.
“Listening to local people over the last year and more, we know that Wythenshawe residents want more from their town centre – more things to do, opportunities to spend time in Civic and night time attractions that give the area a lift and attract visitors,” commented Cllr Bev Craig, who is the Leader of Manchester City Council.
“This is the drive behind the Culture Hub. A place for local people with an interest in the arts to take part in creative activities, see a show or enjoy the cinema space – right in the heart of their community.
“This is another exciting chapter in the transformation of Wythenshawe Town Centre.”
Joel Chandler, who is the Senior Development Manager at Muse, added that developers are ‘moving at pace’ with plans to give the town centre the ‘regeneration it deserves’.
“The food hall will be a hive for a range of local outlets and will provide new spaces for the community to spend time in and give the town’s nighttime economy a major boost.”
The Manc -
14th July 2020 
