Agents appointed at exclusive city centre residential development

Carnaby Place

Alesco Investment Properties has been appointed as exclusive agents on Carnaby Place, a new luxury residential development of 96 units on the emerging Regent Road, minutes from Manchester city centre and with expected yields of up to 10%.

Founded in 2016 by property investment experts with more than 20 years of experience in the field, the appointment of Alesco ensures homes within Carnaby Place are only sold via a handful of trusted, highly-skilled agents.

Developers say Carnaby Place represents an excellent opportunity for any investor’s portfolio, with apartments being sold at 20% below market value, together with the recent stamp duty cuts. Carnaby Place offers a professional management service allowing investors to rent out the homes as short-term lets and serviced accommodation.

Serviced accommodation is the fastest growing asset class in Europe, and the returns generated from a serviced apartment let on a short-term basis outweigh those of a traditional buy-to-let purchase, with earnings average between 30-35% based on 75% occupancy levels.

These projections mean investors could expect to double their returns in comparison to a traditional long-term let, while the increased demand for serviced apartments would make the apartment simple to sell should an investor wish to do so.

The site will provide a vibrant living space for Manchester’s young, professional community, offering 96 one- to three-bedroom apartments and a limited range of three-bedroom townhouses, arranged around a centralised landscaped communal garden with seating and social areas available for residents to enjoy.

Its location provides upscale city centre living, under 10 minutes’ walk from Manchester’s shopping district.

The apartments will provide a sought-after lifestyle, with a 24/7 concierge service, gymnasium and secured residents parking, setting a new standard in urban living.

The apartments themselves benefit from a high specification, with keyless and CCTV-monitored entry to all buildings and luxury furniture packages available starting from £2,499 for a one-bedroom apartment.

These include comfortable soft furnishings, chrome ironmongery and walnut laminate flooring.

The bedrooms include desks, chests of drawers, curtains, roller blinds and recessed dimmable spotlights.

Carnaby Place bedroom design

The kitchens also include high-quality integrated appliances, such as an oven, dishwasher, fridge/freezer, glass splashbacks and stainless steel finished sinks.

Consistently recognised as one of the prime locations of the Northern Powerhouse, Manchester has regularly outperformed most other cities in the UK when it comes to property prices and the trend has only been accelerated by COVID-19 and the decreased need to be within the nation’s capital.

Matthew Fawl, managing director at Alesco Investment Properties, said: “We believe Manchester will be at the forefront of the economic recovery post-COVID-19 and we proud to be the exclusive agents on such an impressive scheme right in the centre of the city.

“Carnaby Place is the ideal purchase for any young professional looking for key amenities and stylish city centre apartments, at a fraction of the price of London. Additionally, it’s the ideal purchase for a savvy investor looking to achieve attractive returns.”