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X1 Michigan Tower, Manchester From £175,995 Est. 5% yield

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INVESTMENT OVERVIEW

Residential Investment:

Luxury Quayside Living

Stunning apartments in the heart of MediaCityUK, Salford Quays

X1 Michigan Towers is a buy-to-let dream, in one of the most sought after locations for residents, it sits in the heart of MediaCityUK in the iconic Salford Quays, Manchester.

This luxury residential development boasts four architecturally stunning towers which comprise one, two and three bedroom apartments and townhouses – all finished to a high specification.

X1 Michigan Towers offers tranquil quayside living, with a range of onsite facilities including: a gymnasium, a residents cinema room, a management office, security and a bike store.

Market Overview

Manchester

Sales price growth

Est. 17.1% in next 5 years

Average Rent

£1,145 per month

Rental growth

Est. 16.5% in next 5 years

Job Increase

84% increase 2002 – 2020

 

 

2.73m people in Greater Manchester is making it the UK’s fastest growing economy, with expected GVA of £23billion by 2030.

Manchester boasts the largest student population in Europe with over 100,000 students.  And thanks to the city’s constant investment and regeneration, it has the largest gain in graduates of all UK cities (with the exception of London) with career progression being the main factor.

It’s home to two of the largest shopping centres in the UK.  With an extensive transportation network connecting Manchester with Salford and surrounding areas.  HS2 is a planned high speed railway linking Manchester, London, Birmingham, the East Midlands and Leeds  – reducing the journey from London to Manchester to just one hour.

Project

A prime buy-to-let location in Manchester from just £175,995


Types
Apartment & townhouses
Bedrooms
One, two and three beds
Price
From £175,995
Completion
Q1 2023
Tenure
999 year Leasehold
Planning
Residential
Parking
£25,000 per space
Furniture
From £2,995
Facilities
Gymnasium, residents cinema room, onsite management, security & bike store

Investment

Great investment opportunity, with 5% annual yield and investor-friendly payment plan


Rental
Long term let
Return Est.
Est. 5% p.a.
Reservation Fee
£5,000
Exchange Deposit
25% - minus Res Fee
Stage Payment
10% - 6m after Exchange
Completion
Balance of 65%
Fully Managed
Yes
Ground Rent
£395 per unit
Service charge
£1,88 per SQFT or £20.19 per SQM per annum

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