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
‘Own a landmark, create a legacy’ – Historic chimney goes on sale for £300k in Bolton
Emily Sergeant
How would you like to live in a big chimney?
I know that might sound like an odd question, and in some respects, it is… but we’re being 100% genuine, as over in Bolton there is currently a historic local landmark on the market with planning permission to make it into your new home, and it’ll only set you back £300,000.
‘Only’ is a bit of a stretch, but when you consider the magnitude of this property, it’s surprising that you’re able to get your hands on it for such a reasonable price.
This is Barrow Bridge Chimney.
Rising above the tranquil stone cottages and wooded valley of the stunning model village that is Barrow Bridge, this striking Victorian chimney stands as a lone sentinel of Bolton’s proud industrial past – and now, with full planning permission secured, estate agents say it offers an ‘extraordinary opportunity’ to reimagine history as a truly one-of-a-kind home.
A historic chimney has gone on sale for £300k in Bolton / Credit: Miller Metcalfe
Originally built in the early 19th century as part of the ‘ambitious’ Dean Mills complex, the chimney once crowned a thriving cotton-spinning hub founded by Thomas Bazley, who was one of the Industrial Revolution’s great innovators.
Long after the mills fell silent though, the chimney endured and remained a local landmark in Smithills visible for miles, and today this relic of the steam age is ready for its next chapter.
Approved plans for the chimney are described as being a ‘bold’ residential conversion that will honour its industrial heritage, while still creating a dramatic modern dwelling like no other in the town.
The planning permission is in place for a two-storey residence of approximately 3,939 sq ft, with a striking contemporary design blended seamlessly with practical living.
The planning permission is in place for a ‘striking’ two-storey residence / Credit: Miller Metcalfe
The approved plans include three spacious bedrooms (two with en-suites), a family bathroom, a downstairs cloakroom, and a study that can easily adapted to a four-bedroom, four-bathroom layout to suit modern family life.
What makes this an even more attractive prospect for future buyers is that the chimney is well-connected to both amenities and nature – with both independent businesses, good local schools, and convenient transport links on the doorstep, as well as parks and tree-lined walks.
“This is your chance to own more than bricks and mortar,” estate agents Miller Metcalfe said.
“It’s a chance to live inside a landmark, to shape its story for future generations, and to call a piece of Bolton’s proud industrial heritage your own. Enquire now to discover how you can transform this iconic chimney into a legacy home that will stand for generations to come.”
Fancy it then? Take a look at the property on Rightmove here.
Featured Image – Miller Metcalfe
Property
Manchester furniture outlet LOFT is hosting a major closing-down sale with up to 70% off
Emily Sergeant
Manchester furniture outlet LOFT is hosting a major closing-down sale with up to 70% off.
Okay, so it’s not technically closing down per se, but the current LOFT premises off Hyde Road near Piccadilly will officially close doors on 30 September, as the business consolidates its operations and relocates to its newly completed headquarters over at Trafford Park.
Unlike a typical closing-down sale, the stock isn’t old or unwanted. Instead, it’s a live snapshot of LOFT’s day-to-day business, and everything must go.
LOFT is known for furnishing properties across the build-to-rent, student accommodation, co-living, private rented, and social housing sectors, and that constant turnover naturally generates surplus – whether it be project overstock, end-of-line pieces or discontinued items making way for new collections.
The move over to Trafford Park is said to be a moment to clear the warehouse ‘completely’ and start the new chapter with a clean slate.
Manchester furniture outlet LOFT is hosting a major closing-down sale with up to 70% off / Credit: Supplied
This means that everything, from sofas and beds, to dining sets, armchairs, and home accessories, must go before the move, with prices already reduced by 50 to 70% below RRP.
Benjamin Hall, who is the Founder and CEO of LOFT, says this is the ‘biggest and best value’ sale the company has ever offered.
He explained: “As we settle into our new home at Trafford Park, we want a completely clean slate. Whether you’re a homeowner after a one-off bargain, or a landlord, agent or developer furnishing multiple units on a budget, there has never been a better time to visit.”
The Manc -
14th July 2020 
