Meet the Built-to-Rent Super Landlords Taking Over the Manchester Property Market

This article has been updated. An early version of this post was published  in September 2020 that contained factual errors and didn’t reflect the message we intended to convey. 

Greater Manchester is seeing a property boom in the construction and take-up of property developments, especially build-to-rent schemes. Build-to-rent developments involve whole apartment blocks being built strictly for the rental market. 

Many of the large build-to-rent schemes in Manchester and Salford have bought by institutional investors and pension funds. Due to the continued high levels of occupancy and growing rental incomes in the city. Demand for owner-occupied homes, not just rental properties, is also increasing in Manchester. Especially the case in the city centre, where the population expected to increase by 100,000 by 2025. 

Meet the developments that are ‘raising the bar’ in the city

Institutional investors and funds are purchasing build-to-rent schemes in Greater Manchester. Have genuinely raised the standard and expectations of the average renter in the city. Many developments offer a massive range of amenity, including swimming pools, gyms, sports facilities, cinema rooms and bars.

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For example, Legal & General recently purchased Deansgate Square’s North Tower, now marketed as West Tower Residences, through its UK Property Fund and Managed Fund. 

Dandara, a company that delivers build-to-rent developments all over England, has sold three of its residential developments to the German institutional investor, ECE. A 995-unit scheme in Chapel Wharf was included in the deal.

These kinds of investments and developments in Manchester don’t stop there. Moda Living and Apache Capital have a joint venture to develop and deliver a build-to-rent portfolio across the UK, including Angels Gardens located in Manchester. Moda Living is the largest privately funded build-to-rent platform in the UK and attracts investment from institutional investors.

These are premium developments offering a level of living typically only available in a 5-star hotel.
Not typically available to individual investors or own-occupiers on the market, until now.

Hotel level amenity at home

Salboy, having developed with this in m an emphasis on lifestyle, quality of amenity is a big part of Salboy’s developments with gyms, swimming pools, laundrettes, and cafes and workplaces on offer. Offering Built-to-rent level amenity to individual investors and owner-occupiers, in premium developments in high demand locations. 

Our developments are home to a balanced mix of investors and owner-occupiers, blending rentals with sales. Creating a diverse mixture of residents can continue to enjoy the high level of amenity and facilities they have come to expect. 

If you are interested in buying a new-build property as an owner-occupier in Greater Manchester, check out the property developments we are proud to have delivered. Please contact us for more information.

 

Posted on 21st September 2020