TWO months after Confidential highlighted (click here) the empty apartment block at Green Quarter, developers Lend Lease have decided to finish Cypress Place.
Although their decision to dump units when they shut up shop in Manchester three years ago may yet come back to haunt them. Valuers are likely to point out that two beds in Britton House next door were being bought for £120,000.
Work on the final fit out of the 215 apartments in the otherwise complete building will start immediately and they hope to have them ready for the end of August – just in time for the latest wave of students.
While they have always been pretty good on the quality of their kitchens and bathrooms this time they are going all out, installing Poggenpohl units and all manner of fancy kit.
Confirming that work to complete the tower was about to begin, marketing director Niki Turner said: “We believe Manchester is ready for some quality new apartments with top of the range fittings. We are on-site now to begin the fit-out and they will be ready in autumn.”
As far as prices go she said they would be looking at comparables at Milliners Wharf in Ancoats where a one bed is around £110,000 and two beds £140,000 but also at Salford Quays where things are slightly pricier with one beds at £120,000 and two beds more like £180,000.
Although their decision to dump units when they shut up shop in Manchester three years ago may yet come back to haunt them. Valuers are likely to point out that two beds in Britton House next door were being bought for £120,000. Ditto units in Potato Wharf.
Asking prices are unlikely to be revealed until the first completed units are released for sale in May.
And they say they have no desire to pre-sell units to buy-to-let investors believing that there will be enough individual demand for the mix of one, two and three beds.
