£32m buy-to-let scheme to start in January

CONSTRUCTION of a £32m buy-to-let residential scheme in Ancoats and New Islington, Manchester will start in January.

The project by Knight Knox and X1 follows the X1’s Eastbank development, which sold out and is still under construction.

X1 The Plaza will comprise 194 units, with a variety of one, two and three-bedroom apartments in addition to seven three-bedroom townhouses. The scheme is due to be completed in autumn 2017.

Amenities for the 152,573 sq ft development are to include secure bicycle storage, an on-site gym and private parking. Externally, residents will be able to enjoy a private landscaped courtyard, winter gardens, private balconies and garden terraces.

Andy Phillips, commercial director at Knight Knox, said: “Manchester is now viewed as one of the country’s top buy-to-let hotspots and as we witness the city develop at such a rapid pace, it’s easy to see why. With unrivalled international transport links, thriving arts culture, legendary sporting heritage and booming economy, the city offers an extremely attractive prospect to potential investors.

“We’re delighted to be providing the area with even more premium residential property whilst enhancing our reputation in the market with such a unique scheme.”

The development will be let and managed in its entirety by X1 Lettings, while Bolton-based Forrest Construction will act as contractor for the multi-million pound scheme.

Melissa Green at X1, said: “X1 The Plaza is an exciting development situated in the perfect city centre location. Apartments and townhouses benefit from luxury modern design and facilities, just a stone’s throw away from the hustle and bustle of the city.

“We’re sure this will be another ground-breaking and award-winning development.”