A redevelopment proposal worth £300 million is leading the way for residential success in Manchester. The UK city’s most recent plans for an expansive accommodation project have established a new, prime location for investors in buy to let property.
The refurbishment will transform a Grade II listed building into a sophisticated apartment block over multiple levels. The former car park will undergo a makeover like no other as it plans to house young and savvy tenants in place of their cars – and investors are getting excited about the opportunities for investments in the area and beyond.
Proposals for a number of apartments on Great Northern Square and Deansgate Terrace include enviable onsite features such as gyms, casinos, roof extensions, plus a winter garden and atrium which will overlook a newly pedestrianised retail street in Deansgate. The amenities will join a cinema and bowling alley which are already in place on the ground floor of the building. In an attempt to get the most out of such an iconic Manchester structure, developers want to squeeze all they can out of the regeneration site and make it more than just a place to park.
Additionally, just south of the project is a railway bridge which will boast a communal garden if the scheme goes ahead. The green space will add colour and life to the currently dull and grey public area of the city which is described as becoming a vibrant but relaxed urban oasis. The surrounding public vicinity will also benefit from the multi-million investment which enhanced pedestrian access amongst new shops and cafes at the core of the incentive.
Previously a Victorian warehouse, the facelift which intends to create hundreds of high-quality apartments in a historical building plays into Manchester’s impressive ability to take old structures and make them new again in a unique property revolution. Celebrating heritage is important to Manchester’s regeneration and fellow districts of the city are following similar renovation trends such as in Ancoats where old textile mills are being turned into trendy apartments for young professionals.
In a positive multiplier effect spanning a wider location, plans have also been outlined for an adjacent tower and additional leisure development which will contribute to the city centre’s status as a magnet for investment.
The Great Northern plans will be split up into phases, and bit by bit, they will play a large part in helping to secure the future of the site as a residential hotspot, and property investment firms are getting ahead of the game and sourcing the best developments in close proximity to key Manchester site. RWinvest offer a whole host of Manchester properties close to the development zone.
The Great Northern and Deansgate neighbourhoods are serving to raise Manchester’s profile as a residential hotspot for investors. The project which will be delivered over the next ten years could open doors for property with the rich regeneration investments adding value to apartments in the area.