XI The Plaza a hit in the buy-to-let sector
RECORD numbers of buy-to-let investors have been queueing up for properties at the coming XI The Plaza in Manchester’s Ancoats and New Islington area.
Knight Knox says 196 apartments have been sold since the launch of the development on October 20, the highest number it ever offloaded in such a short time frame.
Comprising a variety of one, two- and three-bedroom apartments, in addition to seven three-bedroom townhouses, the £32m development will begin construction in January 2016, with completion expected in autumn 2017.
Amenities for the 152,573sq ft scheme 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.
Michael Fenlon, sales director at Knight Knox, said: “Such successful sales of apartments in X1 The Plaza is a reflection of the confidence people have in Manchester as a place to invest.
“The Ancoats area in particular is set to undergo impressive regeneration and expansion over the next five years – and beyond – as the city’s population continues to rise.
“X1 The Plaza is a truly exciting, modern development in a great location, which will appeal to Manchester’s new and existing residents looking to get the most of what the city has to offer.”
The development will be let and managed in its entirety by X1 Lettings, while Forrest Construction will act as contractor for the scheme. Other successful schemes in collaboration with X1 include X1 Media City – a four-phase development in the heart of MediaCityUK – and X1 Eastbank, a scheme comprising of 111 apartments located adjacent to X1 The Plaza. Both sites are currently under construction.
Melissa Green at X1 said: “100% occupancy rates consistently across all X1 Manchester developments demonstrates the popularity of luxury accommodation, featuring state-of-the-art furnishings which are located just a stone’s throw away from the hustle and bustle of the city.”
