THE LAST REMAINING REGENERATION THIS CLOSE TO MANCHESTER CITYT Manchester Waters scheme will regenerate a former 26 acre dockland site located between the residential neighbourhood of Castlefield and Salford Quays
The scheme forms a key part of the Northern Powerhouse and has a formal masterplan approved and adopted by both Trafford and Manchester City Councils’ with the capability to develop over 2,500 new residential homes.
The regeneration plans for Manchester Waters and the adjoining Cornbrook Hub will create a new destination which includes city – living style residential apartments up to 20-storeys in height along with multi-tenure development opportunities for young professionals and families alike.
Located on the north-eastern gateway to Trafford – with a close proximity to the regions most successful and fastest growing business and employment location Manchester Waters holds a significant strategic role in the Cities’ growth.
X1 Manchester Waters is the first phase for the transformational Pomona Island development, delivering 742 homes for private market rent across five residential towers. It is the 20th X1 scheme to be delivered in Manchester.
Creating sustainable environments where people and businesses can flourish
Located at seven sites across the UK, Peel L&P’s Strategic Waters initiative brings unique investment opportunities across the UK’s docklands.
Peel L&P have a vision to regenerate and transform these former industrial sites to create unique new destinations where people can live, work and socialise.
We are delighted to be playing a part in four phases of the Strategic Waters masterplan at ;Trafford Waters, MediaCityUK , Chatham Waters and Manchester Waters.
Aside from being one of the leading cities in the Northern Powerhouse – Manchester’s local buy-to-let market is leading the way in UK Property Investment and was revealed as the UK’s best buy –to- let – destination by LendInvest in December 2017.
As the 6th largest city of the UK with a population of over 530,000 , Manchester has the second largest economy in the UK with the population continuing to grow as young working professionals look to move away from London and to the UK’s second city for work and pleasure.
Over the past 10 years alone, some of the leading international companies such as BBC, Deloitte, Kellogg’s , Barclays and Siemens have moved their offices in and around Manchester with an increasing number bringing their regional offices to Manchester, including Technology giant Huawei who have just opened their first office in Media City, Manchester.
According to Salford’s City Mayor, the digital tech industry alone has turned over £4.98 billion in the North West and greater Manchester has the largest number of digital workers in the UK outside of London, which looks to continue its upwards growth.
It is expected that the pace and level of job creation in Manchester could outnumber that of Berlin, Tokyo and Paris between 2015 and 2020.
With the population continuing its upward growth, Manchester City Council has estimated that the population will exceed three million by 2030 – with Manchester’s population in particular estimated to top half a million.
Further insights from Manchester City Council demonstrate that the city centre is experiencing population growth 15 times faster than the rate at which new homes are being built.
Research from Savills has shown that although there are 7000 new homes in the pipeline for Manchester over the next two years, to meet housing needs, a further 11,254 would need to be delivered per year to keep up with demand.
Residential Propery values in Manchester have risen 5.1% year on year in the last 12 months according to the latest data from Zoopla and Hometrack confirms that Manchester remains the fastest growing City. By 2022, it is predicted that house priced will grow by 15.3% and rents will rise by 13.6% (4)
Research from Knight Frank has confirmed the above through its indication that rental income looks to continue its growth with an overall rise of 14% by 2022.
The same research continues with its predictions with regards to the private rented sector announcing that 25% of households in the UK will rent privately by the end of 2021.
Previously dubbed as Manchesters ‘hidden Island’ and laying untouched for years, we are delighted to be helping to breathe life back in to Pomona Island with the delivery of our 5 phase development – X1 Manchester Waters.
The island, which was once home to the Royal Pomona Palace and Botanical Gardens later, became docklands to serve the Manchester Ship Canal.
X1 Manchester Waters is a key element – and the first being delivered – as part of a 10 year master plan for the area.
Occupying the south portion of Peel L&P’s wider 26-acre Manchester Scheme, each tower will bring stunning waterfront apartments to the Island located between Castlefield and MediaCityUK.
The location is truly unique and will offer residents stunning waterfront views along with excellent travel links to Greater Manchester with the Pomona Island tram stop located just two minutes walk from the development.
During one of his first outings as PM, Boris Johnson has pledged to ‘unleash the productive power of the Northern Powerhouse’ and visited Pomona Island as part of a visit for the new Trafford Centre Metrolink extension.
The new 5.5km line will extend the current Eccles line to the Trafford Centre, including 6 new stops with £350m of funding from the Government.
PAYM E NT ST R UC TU R E
1. Reserve your property from just £5000
2. 25% of the total purchase price + 50% of the furniture price payable within 21 days
3. 10% stage payment + 50% of furniture pack payable 6 months after exchange date
4. Final balance payable on completion