Manchester City Centre is home to around 20,000 residents but this number is growing rapidly.
Manchester is undergoing a massive building boom. Simply driving across the city and looking at the number of cranes and new buildings it is clear that there is serious investment flooding in to the city.
City Centre living in Manchester is mostly focused on apartments, which are either converted period properties such as old mill buildings or new modern developments.
Due to Manchester’s industrial past there is an abundance of factory buildings built between 1800-1900 which have now been converted into designer apartments. They often come with original features, very high ceilings, exposed beams and brickwork and are often seen as highly desirable and stylish.
You can also find a lot of modern and high-rise developments going up around the city. Deansgate Square at the southern edge of the city centre consists of 4 skyscrapers including Manchester’s tallest and the tallest in the UK outside of London.
St John’s is a £1 billion development going up in the West of the city centre which will include 2,500 new homes as well as modern working and leisure spaces.
A lot of new apartments have been built across the city centre in the past 20 years in areas such as New Islington, Spinningfields, Blackfriars, Northern Quarter, Green Quarter and Ancoats.
Demand remains very strong for both sales and rentals across the city centre and, this demand is felt strongest on the higher value range stock £300K-£1M +. The best yields are to found on the cheaper units (£150-£250K) but these are likely to perform worse on capital growth in the long run.