3 bed Flat (for sale) Silvercroft Street, Manchester M15

£450,000
Add to Basket Basket Looks Interesting
agent logo
North Property Group Ltd
One Brewery Wharf, Waterloo Street, Leeds
0113 482 9929
First Published

10th Oct 2019

Last Published

11th Oct 2019

 

Features

  • Type: Flat
  • Bedrooms: 3
  • Listing status: sale
  • Country: England

Description

Overview Elizabeth Tower at Crown Street is one of the tallest residential buildings in the UK and forms part of an exciting new skyscraper district in the south-western part of Manchester city centre.

The 52 storey development made up of luxury apartments & penthouses is no doubt the most prestigious investment that you can make in the whole of the North of England and in return we anticipate the yields to be 7%, with 20% capital growth. Elizabeth Tower is ideally situated at the entrance of Manchester city centre – not only a city of unstoppable growth but the uk's number one investment city. With over 70,000 people now living in the city, Manchester has quickly become of the uk's biggest tenant market, offering yields 69% higher than in London.

As a landlord your tenants with benefit from outstanding onsite amenities, including one the highest swimming pools in the whole of Europe, situated on the 44th floor. Residents will be able to take advantage of the communal hub, state-of-the-art gymnasium, spectacular Royal Garden and residents lounge, meaning you will benefit from the highest possible rents that the city has to offer.

Elizabeth Tower is just a short 14 minute walk to Spinningfields and 7 minute drive to Media City. It will be surrounded by several public realm and green space areas, connected by new pedestrian and cycle pathways. In addition there will be Podium level restaurants, coffee shops and retail outlets which will establish Crown Street as one of Manchester's most exciting new leisure hotspots.

Why invest in manchester? Manchester has a strong market with average yields that are better in Manchester than in London having grown by 6.02% on average since 2010 – compared to only 4.71% for the highest yielding borough in London.

An undersupply of accomodation Such a massive population boom can cause issues with lack of accommodation, but as Manchester already has one of the lowest levels of housing stock in the UK the city's undersupply is especially great.

New properties are being built in Manchester, though despite this it is still predicted that by 2026 there will still be 1,500 more households than homes.

This creates a twofold opportunity for investors. In the short-term yields and capital growth are rising as ever more people fight over places to live. In the long-term there is a massive opportunity to invest in new products and sectors for Manchester's booming population.

A growing city Manchester's population is growing by three times the UK average, increasing by 10% between 2001 and 2011. This should really be no surprise, considering it's one of the most desirable cities in the country to live – in fact, it was named the best city in the UK to live by the 2015 Global Liveability Survey.

Market-leading global businesses are also flocking to Manchester, including bbc and hsbc. They have brought with them excellent job opportunities and Manchester now has one of the fastest job creation rates in the country – in April 2015 the city saw an increase of 47% in job openings, whereas London had 42%.

All of these jobs are bringing even more people to the city, but that comes with its own problems.

Forecasted economic growth Thanks to being at the heart of the government's Northern Powerhouse Scheme and benefitting from massive investment and projects such as HS2, Manchester's economy is predicted to go from strength-to-strength.

In the decade between 2016 and 2026 70,000 more jobs are expected to be created in the city and the population is forecasted to grow by over 125,000. Manchester Airport will expand to double its capacity and become a global transport hub in a £1billion project.

It is likely that this will cause property prices in Manchester to increase, so many investors are adding assets to their portfolios now to ensure the best returns.

An increasing young population Manchester is hugely desirable for young people who either remain in the city after graduation from one of the region's five universities or are drawn by the large number of job opportunities and excellent culture and nightlife. People aged between 25 and 29 years old now make up over 60% of Manchester's growing population, a large proportion of whom desire city-centre rental accommodation.

This creates a great opportunity to invest in high-quality, city-centre accommodation for this sector of Manchester's workforce.

 

Local info for M15

 

Property Value Data/Graphs for M15

Property Type % Avg. current value Avg. # beds Avg. # bathrooms
Flat 93.9% £261,010 1.7 1.4
Studio 3.4% £121,812 0 1
Terraced house 0.6% £207,475 3.5 2
Semi-detached house 0.6% £172,475 2.5 1.5
Other 0.3% £195,000 0 0
End terrace house 0.3% £180,000 3 1
Mews house 0.3% £475,000 3 3
Maisonette 0.3% £235,000 2 2
Town house 0.3% £425,000 3 3

Area Information

Average Price Paid

£184,654

Sales

2196

Current Average Value

£256,085

Value Change

£71,431 38.7%

 

Current Asking Prices in M15 Average: £256,085

Property Type 1 Bed 2 Beds 3 Beds 4 Beds 5 Beds
Houses - £164,950 (1) £285,000 (5) £249,950 (1) -
Flats £208,300 (110) £280,623 (180) £396,168 (17) £205,000 (1) -
All £208,300 (110) £279,984 (181) £370,902 (22) £227,475 (2) -

Nearby Properties

3 bed Terraced house () Beech Road, Hale, Altrincham WA15 £520,000
4 bed Detached house () The Coppice, Hale Barns, Altrincham WA15 £1,295,000
4 bed End terrace house () Hale Road, Hale, Altrincham WA15 £695,000
5 bed Semi-detached house () Acacia Avenue, Hale, Altrincham WA15 £675,000
4 bed Detached house () Grove Lane, Hale, Altrincham WA15 £800,000
Property information powered by Zoopla