Opportunities to invest in Manchester through Herreshoff Apartments
Manchester is one of the UK's prime regional economies, and one of the biggest property markets outside London including some of the highest yields around. With significant amounts of redevelopment underway and the Northern Powerhouse leading to the launch of new growth initiatives and the influx of large volumes of investment over the next few years, competition for investment in some of Manchester's most popular areas can be fierce indeed. Now, a limited number of opportunities have arisen in what has grown to become one of the city's most desirable areas, in the form of the 54 units of Herreshoff Apartments.
The development is located within Salford Quays, which has been one of Manchester's most up-and-coming postcode areas over the course of recent development initiatives and has risen to a place among the most popular locations to live or to invest. It is intended to become the first of five development projects, which collectively make up Fortis Quay – a major initiative to create new and up-to-date developments in the Salford Quays area which have also been designed to preserve and pay homage to the industrial heritage of the district.
Herreshoff Apartments will be a complex of 54 residential units of various sizes, including studios, one bedroom, and two bedroom apartments as well as two bedroom townhouses. The completed units will offer tenants luxurious living standards with quality, up-to-date fixtures and fittings. Tenants will also have the benefit of a great location in a popular area, close to local employment centres such as Mediacity, and with easy nearby access to both local and national transport links.
Units in the complex are already up for sale, offering investors a fantastic opportunity for property investment in Manchester within its high-performing property market. The high quality of accommodation on offer and the excellent location will not only benefit tenants but also investors; these factors are likely to drive high demand for the units and be key in attracting tenants. The Salford Quays area has already become one of Manchester's most popular postcodes, and with more and more businesses relocating to the nearby MediacityUK demand for longer-term rented accommodation is likely to increase as time goes by. Furthermore, as the Northern Powerhouse initiative steams ahead and Manchester's fast-growing population continues to get bigger, demand levels and property values throughout the city are expected to climb.
Prices for Herreshoff units start from just £124,995 for a studio apartment. Buyers will pay 25% of the property’s value upon exchange of contracts, minus a deposit which is charged when first reserving an apartment, followed by a further 25% six months after construction has started. The remaining 50% will not be due until development on Herreshoff Apartments has been completed.
For more information about Herreshoff Apartments, please contact Hopwood House.
