Manchester’s economic growth is continuing apace and the nature of its economy means that this growth is unlikely to be reversed by Brexit. There are two main reasons for this, one is that Manchester’s economy is highly diversified and the other is that it is already very global.
Economic growth generally leads to population growth and this has certainly been the case in Manchester, however, even though home prices have risen noticeably over recent years, Manchester remains a very affordable place to live because the local authorities have worked closely with developers to ensure that there is appropriate and sustainable development to increase the stock of high-quality housing without damaging the local environment.
The Cartwright is a great example of how old, unused industrial buildings can be transformed into high-quality, modern, housing without losing their original character.
From industry to modern-day luxury
The Cartwright, Manchester started life as a textile workshop, a fact which might, perhaps, be guessed from its large and impressive windows, which formerly brought in plenty of light by which workers could see and which will soon be a highly attractive feature in the forthcoming development of one- and two-bedroom apartments, scheduled for completion in October 2019.
The original character of the building will be maintained as much as possible and, in this case, will include both the brickwork and the woodwork. The interior of the building will be sensitively restructured (and updated as required) to provide generously-sized and well-proportioned accommodation (689 square foot for the two-bed flats and 538 square feet for the one-bed flats), the interiors of which will meet the sort of design standards expected of modern, high-quality apartments.
Notwithstanding all of these attractions, units at The Cartwright will be priced very affordably, starting at only £199K and will offer an estimated rental yield of 5.1%.
A great location ensures high demand
The Cartwright is located where the NOMA regeneration area meets the popular New Cross District. In addition to having many essential facilities within easy walking distance and a wide range of leisure facilities in the surrounding neighbourhood (including Manchester Arena), it also benefits from Manchester’s great transport connections, in particular, it is very convenient for Manchester Victoria railway station.
As Manchester is in the heart of the UK in a very literal sense (as well as a figurative one), it has superb railway connections across the country, for example, the journey time to London is just two hours and this is set to be halved with the arrival of HS2, which is still very much on schedule (unlike Crossrail) raising the possibility that it will be quicker to travel between Manchester and London than to travel from one side of London to the other! Manchester also has its own airport, which serves many destinations around the world and hence offers a convenient option for international travel, be it for work or for leisure.
For more information on the Cartwright or other Manchester buy-to-let properties, please contact Hopwood House