The modern building in the heart of Salford has terraced gardens and is intended to combine high quality, bespoke design with first-class amenities such as a workspace for residents, yoga studios, a gym and a cinema media room.
Baljit Arora, director of sales agent Orlando Reid, said, “There are very few developments in this area with this type of convenience; it’s not uncommon, but it’s definitely rare for Salford. “
“55 Queen Street is attracting great interest from buy-to-let investors who want high rental returns – around 7 percent for this development and excellent capital growth. We also receive a lot of inquiries from end users who want a central location with easy access to all that Manchester has to offer. “
Salford has brought thousands of quality jobs to the area, driving house prices and rental values soaring. At the heart of its transformation is MediaCityUK, Europe’s largest dedicated media center and home to the BBC, ITV and hundreds of other smaller, specialized technology and communications companies.
The latest TechNation industry report shows that investment in this sector in Greater Manchester has increased 277% since 2018.
Thanks to government investment, Salford’s renewal has spawned a thriving local arts and culture, innovation, business and leisure environment that includes the Lowry Theater, Imperial War Museum and Salford Museum & Art Gallery.
Arora adds, “To meet the growing demand and volume of people who want to work and live in the area, there are significant plans to develop local infrastructure and promote economic growth.”
“As a result, property prices and rental yields are rising, making Greater Manchester one of the UK’s top investment destinations.”
New affordable apartments for car depot in London planned
19 houses are planned for development on the site of a former breakdown and recovery depot in Bermondsey.
Featherstone Homes Ltd will develop the units – including six considered affordable homes – in Bermondsey in the thriving London Borough of Southwark.
The £ 5.4 million residential development on Lynton Road will include the demolition of the existing depot to make way for a new four-story block of flats.
The project includes the creation of one-, two- and three-room houses as well as a “green” roof terrace and a play area for families with young children.
Rowan Stewart, Director of Featherstone, commented, “This project is exciting and we believe it will be a great opportunity for first-time buyers or young professionals to acquire modern housing near central London.”
“Bermondsey itself is a growing, thriving and vibrant area near Surrey Quays and Canada Water with excellent transport links. For us it is another exciting project that we are involved in completing and that brings urgently needed, affordable apartments to the region. “
He adds: “The project will change the site of the old breakdown center and is another project in our portfolio that has a really positive impact on the area.”
“We are very excited about this project, which in our opinion strengthens our position as one of the leading, tailor-made real estate developers in the city.”
Shawbrook Bank is backing the venture with a £ 5.4 million development finance loan. The total debt of the project is 80% of the total cost (LTTC) and 65% of the land development value (GDV).
The Bermondsey site is the latest project by the team behind Featherstone Homes, which Shawbrook has recently supported, having previously had projects in Southfields (£ 16m GDV, consisting of 29 apartments and two commercial units) and Streatham (£ 12, 6 million GDV consisting of 30 apartments and two commercial units).
Restored 800 year old building to provide sheltered housing in County Durham. to accomplish
A £ 1.7 million redevelopment program in County Durham has transformed two 835 year old buildings into “high quality” serviced apartments.
The listed Thornley House and Shincliffe House buildings were renovated on the Sherburn House Charity Estate – the site of a former medieval hospital.
The project has delivered 14 self-contained apartments for over 55s, including 12 assisted accommodation and two general needs apartments that are offered at affordable rents.
A five-room house was also created, suitable for adults who could benefit from communal living with a homely atmosphere.
Pauline Bishop, General Manager of Sherburn House Charity, explains: “The transformation of the poor house properties is incredible and now fits perfectly with the high quality renovation of our care home.”
“We pride ourselves on bringing these modern homes to future generations of elderly people who live in Durham or have a Durham connection. It is wonderful to see how these properties are brought back to top condition and used again. The interest in the objects was very high and we assume that all units will be occupied by the end of the summer. “
The program was run by Esh Construction for the Sherburn House Charity and received £ 560,000 in grants from Homes England through the government’s Affordable Homes program.
The apartments, which were previously not rentable, now have a “luxurious” living room, a private shower room, an open living area and a kitchen. A communal dining and lounge area as well as an outdoor courtyard allow residents to relax in the company of others.
Colin Ford, Site Manager at Esh Construction, adds, “Esh has worked on the Sherburn House property for the past five years, doing the major transformation of Beddell House and then renovating Thornley House and Shincliffe House.”
“Together with the customer, the team of consultants, the subcontractors and the suppliers, we have renovated these listed buildings in order to offer fantastic accommodation for people in later life. As a local contractor, we are proud to have played our part. “
The latest development is part of a five-year renovation program at the Sherburn House Estate, with the renovation of Beddell House, a 55-bed residential home, completing in 2020 – institutional design that removes the stigma associated with nursing homes.
Family townhouses unveiled for the next phase of the Manchester program
Middlewood Locks has announced the next phase of residential development following the sale of all 1,117 homes in phases one and two.
For the first time, a selection of new townhouses for family life will be available for purchase in the 25 acre residential area that connects downtown Salford and Manchester.
Middlewood Locks is a thriving new neighborhood with 571 new homes with over 750 residents and an additional 546 new homes ready to move into this summer.
Seven Bro7hers Beer House and Co-op support the growing community in an “established oasis” of green spaces and an attractive public area along the canal side.
‘The Railings’ includes another 189 new homes, including a number of three- and four-bedroom townhouses and three-story waterfront homes, as well as a mix of one- to three-bedroom apartments in two 10- and 12-story buildings across the canal to the phases one and two.
Almost all apartments have a private outdoor area with a balcony, terrace or garden, while a “generous” communal platform garden is created for the benefit of the residents. As part of The Railings, secure underground parking spaces, bicycle parking spaces, a double-height resident atrium with lounge, post office and charging stations for electric cars are offered.
The next phase will also include 5,150 m² of commercial / retail space on the ground floor and an additional 4,970 m² of offices.
Middlewood Locks is a joint venture between Scarborough International Properties, the Hualing Group, based in Urumqi, Xinjiang, China, and Metro Holdings Limited, a Singapore-listed property development and investment group.
Upon completion, it will offer a total of 2,215 new apartments and 900,000 m² of commercial space, including offices, hotels, shops, restaurants, bars and a parking garage. The project will be developed around three major basins in the Manchester, Bolton and Bury canals connected to the River Irwell.
Overall, the site has a gross development value of £ 1 billion and is expected to create more than 7,000 jobs for the area.
Sales and Marketing Director Nicola Wallis explains: “Our goal was to give residents the opportunity to buy their home in Middlewood Locks, and we are very proud that to this day a large number of our homes have been sold to owner-occupiers, some of them many are first-time buyers through the government-sponsored Help to Buy initiative. “
“We have an increasing number of families living in Middlewood Locks and we are seeing increasing demand for single family homes near the thriving city center. With this in mind, we at Middlewood Locks introduced contemporary townhouses for the first time. “
Invited bids for the development site in Huntingdonshire prior to planning permission
National real estate consultancy Carter Jonas has opened a major development opportunity in Bury, Huntingdonshire.
Due to the speed of the local market, promotion of the site started before building permit and has already received offers.
The building permit was granted last week (Monday 21 June) and potential bidders have a little more than two weeks to submit their bids.
Planning permission granted by the Huntingdonshire County Council on June 25th provides for the development of 87 units, associated parking and landscaping on this 8.9 acre green field site.
The site is in the popular village of Bury, 7 miles northeast of Huntingdon and 14 miles south of Peterborough. Of the 87 units, 40% are shown as affordable housing, which includes both affordable rent and co-ownership.
Mathew Forster of Carter Jonas, who acted on behalf of The Abbey Group, comments, “Property values in Huntingdonshire are moving at an almost unprecedented rate and we are seeing bids over 50% off the asking price. For this reason we have decided not to set any asking price for this coveted development location. “
Carl Sutton, Managing Director of The Abbey Group, adds: “The fact that this property has already received several offers underlines the attractiveness of this village location, which also benefits from good transport links. It is also an indication that the very vibrant local market is attracting buyers from London and elsewhere, with many national home builders recently opening regional offices here. “
The property is unconditionally offered for sale through an informal invitation to tender. A microsite with planning, legal and technical documentation was created and access data is available from Carter Jonas.
The closing date for applications is Wednesday, July 7th, 2021, 12 noon. The preferred bidder and the heads of terms are to be agreed in mid-July, the exchange of contracts is planned for September 2021.
It is expected that the successful bidder will submit a reservation application within three to four months of completion, so that construction on site can begin in spring 2022.
