Deansgate Square, Manchester: live the high life in the UK's fastest growing city
With Manchester property values rising almost 7 percent in the last year, investors are snapping up desirable properties.
With London's property markets slowing down to just 1.6 percent annual growth, large regional cities are picking up the pace – particularly Manchester.
The Hometrack UK Cities House Price Index reveals that Manchester property prices increased by 6.92 percent in the 12 months to July 2017, well above the 5.14 percent UK average. With a total real estate value of £133 billion, this makes Manchester the third most valuable UK property market after London and Birmingham. It's also the fastest-growing, according to Jones Lang LaSalle (JLL), which forecasts price growth of more than 22 percent and rental growth of 15 percent over the next four years.
The rising demand for Manchester property has led to a surge in residential developments in prime city centre locations. One appealing project that's just entered the market is Deansgate Square, a collection of luxury apartments from local developer Renaker that combines an idyllic location, premium facilities and a competitive starting price for overseas property investors.
The Northern Powerhouse
The beating heart of the North of England, Manchester is the largest and fastest-growing economy outside the capital and its secondary financial hub. More than five million people go to work within a 30-mile radius of Manchester, while the city itself is home to some 350,000 employers, including 80 FTSE 100 companies.
Manchester has been named the best place in the UK to establish a new headquarters, with global firms such as the Bank of New York Mellon having set up shop in the city. Rising prices in London are also seeing more UK firms decentralize their operations and relocate to the more affordable city that's just two hours away by train, notably the BBC.
With over £3 billion committed to real estate infrastructure, and further investment in transport and other areas through the British Government's Northern Powerhouse initiative, Manchester will become ever more attractive to businesses and entrepreneurs in the years ahead.
The UK's most livable city
Manchester has more to offer than business and investment prospects. Named the most livable city in the United Kingdom by the Economist Intelligence Unit for six years running, Manchester appeals to people from all walks of life. Families with children are spoiled for choice with many highly-rated schools and colleges and no less than five universities in the city region, while the large student population maintains Manchester's decades-long reputation as a capital of nightlife, art and culture in Europe.
A long-established multicultural population means there's plenty of diversity in Manchester's dining scene too, including one of Europe's largest Chinatowns. You'll never be stuck for shopping options either, from the independent boutiques of the Northern Quarter to the big brands of the Arndale Centre, the UK's largest inner city shopping mall.
With intricate tram, bus and train networks linking the city and five railway stations connecting to destinations all over the UK, Manchester couldn't be better connected. Deansgate Castlefield Station is just two minutes' walk from Deansgate Square and it's less than 20 minutes' drive to Manchester Airport, which serves more international destinations than any other UK airport.
A new local landmark
With its four distinctive towers housing a total of 1,508 spacious apartments over 2.3 million square feet, Deansgate Square is set to become an icon of high-end living in Manchester city centre. Residents can look forward to the highest standard of quality furnishings and finishes, bespoke kitchen and bathroom fittings and hi-tech security features.
Add to this an unprecedented suite of on-site amenities that take luxury living to the next level, including a private swimming pool and sauna, fully-equipped gym and sports court, yoga studio, spa treatment rooms, business center, cinema and rooftop garden. A concierge is also on hand 24/7 to take care of anything residents need.
Apartments are now available in Deansgate Square's 66-story South Tower starting from £199,950 (HK$2.19 million). South Tower is scheduled to open its doors to residents in the second quarter of 2020.