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A 70m buy to let development is set to be built in Manchester city centre


10-08-2014

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It will have 344 properties and other amenities including a two-level gym, roof garden and a pair of electric Smart cars people living there will be able to hire

 

A £70m buy-to-let development is set to be built in Manchester city centre.

Developer Pinnacle MC Global, which has bases in Wilmslow and Manchester, has released details of its Angelgate scheme.

It is on Dantzic Street, near to the city’s Northern Quarter and The Co-operative Group’s NOMA scheme.

Pinnacle has specialised in creating student accommodation but Angelgate is its first foray into the mainstream residential sector.

It will have 344 properties and other amenities including a two-level gym, roof garden and a pair of electric Smart cars people living there will be able to hire.

Pinnacle says the apartments are open to anyone to buy but is anticipating most interest from buy-to-let investors, with the firm having strong connections in the Far East. Work is set to start on the development in December, with completion due in February 2016.

Director Julie Harvey said: “Manchester is unequivocally one of the UK’s success stories.

“We see a thriving city with fantastic education, infrastructure, and employment, and only see this improving.”

A living area within the development

It comes as Cheshire-headquartered Select Property Group was granted residential planning permission for its City Suites development, on Chapel Street.

The 17-storey block will have 260 apartments, made up of studios, one, two and three bedroomed properties. People living there will benefit from a spa pool, gym and dedicated concierge service.

City Suites will offer short-term tenancy agreements, from as little as one month, while also delivering a range of luxury services usually associated with a hotel stay.

The scheme is aimed at young professionals and executives.

The building is part of the Greengate regeneration project, close to Manchester Cathedral, and will be finished in 2016.

The apartments will be sold through Select Property Group to investors from around the world before being rented out on their behalf by the company’s management team.

Select chief executive Mark Stott said: “Our new concept in rented living is ideal for the growing number of professionals who want city centreliving.”

www.manchestereveningnews.co.uk

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