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.
Two of those were CAPITAL&CENTRIC’s CRUSADER and PHOENIX on Chapeltown Street in Piccadilly East.
CAPITAL&CENTRIC previously made headlines for creating an owner-occupier community and banning investors when it launched Crusader Mill in 2017.
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.
“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!”
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.
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.
Outdated Manchester building could become new ‘innovation hub’ as part of £1.7bn transformation plans
An outdated Manchester building could be “reactivated” into a brand-new innovation hub as part of ambitious transformation plans.
The Renold Building – which dates back to 1962, and was the first of its kind UK at the time – will take on a new lease of life, and become a home for “forward-thinking entrepreneurs and SMEs” to develop new ideas and solutions that will help tackle some of the world’s biggest challenges.
ID Manchester is an “ambitious” plan to transform the University’s former North Campus into a “welcoming and accessible” new £1.7 billion innovation district.
According to UoM, the new vision for the Renold Building will celebrate its history as an educational hub by hosting the next wave of science and technology innovators, and building an inclusive and purpose-driven community.
The city centre building will provide a range of coworking, office, and meeting facilities to accommodate and support collaboration between researchers, entrepreneurs, businesses, and partner organisations.
On top of this, new events and exhibition spaces – including lecture theatres, and a community cafe – will be accessible to local businesses, community groups, and arts and culture organisations as part of the project, so that they have the chance to host and participate in a wide range of engaging events and activities.
“The Renold Building will be an invaluable place to bring together like-minded organisations and partners to collaborate, develop, and test new ideas,” commented John Holden, who is the Associate Vice-President for Major Special Projects at UoM.
“We’re building our innovation ecosystem from the ground up, and the Renold Building will be a place that not only accelerates the growth of our city’s most promising entrepreneurs, SMEs and university spin-outs, but also provides the spaces and opportunities to allow our local communities to participate, experience and benefit from innovation too.”
An application to convert the building from educational to commercial use has been submitted to Manchester City Council, UoM and Bruntwood SciTech have confirmed.
Pending application approval, the building is set to open in late 2024.
Featured Image – UoM
A look at the plans to turn historic Ancoats mill with rich musical heritage into new apartment complex
Hodder + Partners have just revealed new CGIs and a more detailed look at the plans for their redevelopment of the longstanding Brunswick Mill in Ancoats which is set to become a brand-new apartment complex.
The proposals to turn the once creative space with decades of musical heritage into a new residential site were revealed back in 2021 and approved within just a few months, despite having been met with plenty of resistance given its history and cultural significance.
Nevertheless, Northern company Big Red Construction recently kicked off the £50+ million renovation on behalf of developer Arrowsmith Investments and the apartments are projected to be finished in 2026.
With that in mind, the architectural designers Hodder have just released a new look at what Brunswick Mill is set to look like once completed:
The short trailer gives a glimpse at the history of the Brunswick Mill space and what it’s set to become.
Set to transform the historic industrial mill-turned-creative space and music studios on the edge of New Islington into 153 new apartments, ranging from one, two and three-bedroom residences, the redevelopment will be spread across two phases.
In line with designs by Hodder + Partners, the initial phase involves converting the existing mill building and the construction of new four and seven-storey elements to accommodate the remaining 127 homes on the Bradford Road plot in Ancoats.
Big Red Construction, who are also working on the Peelers Yard building for CERT Property and Myprotein founder Oliver Cookson, are expected to complete phase one by the first quarter of 2026.
Here’s another look at what living space people are already buying up:
The bathroom plans.‘New with the old’ bedroom-designs.A first look inside the Brunswick Mill flats. (Credit: Supplied)
Along with Hodder + Partners as architects, the project team also consists of HW Consultancy who are covering structural aspects, Manchester firm Clancy for mechanical and electrical considerations, as well as AM Pyro as fire engineers.
With property company Orlando Reid serving as estate agents for the project, 42 out of the 153 apartments have already been sold off-plan, with managing director Baljit Arora describing it as “an exciting period for all parties involved and for the city of Manchester”.
This is just the latest chapter in the continued regeneration of the Ancoats and the New Islington areas, which remain two of the most heavily re-developed areas in the city centre and Greater Manchester as a whole. You can see other hot properties in and around the region HERE.