THE first Government-backed Private Rented Sector (PRS) 'Build for Rent' apartments in Manchester will be available from next month.
The big difference to any other schemes currently in Manchester is that they will be owned and retained by one single company
Ironic really that they are three former council blocks in the east of the city. Nothing much changes. Public money funds affordable living space for people who can’t/don’t want to buy. Except this time the £7.9m from the government is a loan to help lever the extra private funding needed; while the rents - competitive in a strong market at £750 for a two bed - aren’t really that affordable if you are on minimum wage.
On the plus side here are three tower blocks that have stood empty for the last fifteen years now providing 192 new homes on the edge of the city centre. They've been finished to a high spec too. The fit-out and the attention to detail is impressive, add in space and light with each flat occupying a corner of the twelve storey blocks (except the mini one beds) giving great views. These will be great places to live.
And so Rodney, Saltford and Chippenham Court have been re-born as Tribe Apartments; the big difference to any other schemes currently in Manchester is that they will be owned and retained by one single company.
Tribe Apartments (photo credit: Matthew Dalrymple, Skyscrapercity.com)Nigel Rawlings from Tribe Apartments Limited led the project from the ground and took his marker from some of the better block managed apartments in the US and Europe.
He said: “Everyone is chanting the PRS mantra right now but we already have a private rented sector, ask the tens of thousands of people who rent in Manchester. What people actually mean by PRS is whole block ownership. Ownership which means that quality and management, both short and long term, can be controlled and which allows us to put in Cat5 cabling so tenants have instant broadband and satellite TV and a biomass boiler in the basement so each block can generate its own power.
“It also means security of tenure and intensive management with a 24-hour-help service.”
The first two blocks to be completed are in New Islington, with the third member of the Tribe to open on Oldham Road this summer. Architectural firm Pozzoni have overseen the refurb and designed large glass pods that are being bolted on to provide a much more impressive, safer and well-lit entrance.
While the exteriors have been re-clad to provide better insulation and distinctive colour coding, the interiors have also been transformed. It’s a very clever upgrade, managing to be both functional enough to withstand the rigours of rental but feeling like top end spec.
The kitchen is stuffed with Grade A appliances, bags of storage and a neat breakfast bar while the work surface is super tough acrylic. Bathrooms in the one beds have great walk-in showers while the two beds have bath and shower above; both have sophisticated tiling and acrylic (again) for the sink tops. There's no en-suites which maximises living space but may put off sharers.
Doors are good quality and on the floor carpet tiles mean stains can easily be replaced. It’s a good mix of practical and pretty and all the work of Nigel’s wife, Joy. Apartments come unfurnished or kitted out with some very good, non-standard pieces (again chosen by Joy). No black faux-leather sofas to be seen.
But the best thing about these converted tower blocks is that they feel so solid and quiet; and by incorporating full height glazing into what was a balcony gives masses of light.
Urban Splash did the same with the Three Sisters towers up the road and it works well there too. Urban Splash did own the Tribe trio as well but were overcome by the market before they could start work and relinquished ownership two years ago when the City Council stepped in and asked for them back.
Stockport-based Rawlinson Construction won the tender to refurb, secured the first Build to Rent funding in the country through the Homes and Communities Agency and then knocked on doors in the city to tempt institutional investments managed by Cabot Square Capital.
Nigel said: “It took a while. We went round all the private equity firms that focus on real estate in London but in 2012 nobody was interested in Manchester, they saw it as a development risk and we could not get bank funding.
“But Cabot Square Capital saw the potential and the fact that the blocks were 85% there and their faith has been justified. The development risk is more difficult here because of values and while the institutional investors would like to own residential rental blocks and a lot of funds are now approaching me, nobody has built them yet. Somebody has to take on that development risk.
“Our aim at Tribe is to elevate and set the bar in the private rent market in Manchester. Renting in many other European cities and US cities is a positive, desirable lifestyle choice, because for years the service offering has been top-notch.
“Customers will enjoy high quality homes, offering as standard many desirable high-end design features which you’d normally associate with much pricier, luxury apartments. Our aim is to deliver a friendly, hassle-free and reliable service, which makes life easier for our customers.”
Note the repeated use of the word 'customer'. 'Tenant' is banned, so too 'furniture pack'. They ideally want these to go out furnished as it saves all the too-ing and fro-ing and potential damage to lifts and communal walls as people lug their furniture into place. And why would you not when the standard offered is so good and you get a choice.
Who manages Tribe is key with the job going to Plumlife, the Manchester-based sales and letting arm of housing association Great Places.
Rental prices are £500 for the small one bed, which works if you want a crash pad or don’t have much clobber (the cheapesat Abito apartment by comparison is currently £550 a mont)h. Bigger one beds will go for up to £750. Two beds start at £725 and increase the higher you go to £875. Limited car parking is available to rent and there are also promising realistic deposits and admin fees.
Nigel said: “We are not offering swimming pools or cinema rooms but we are offering the first bespoke rental building in Manchester and we think it will attract people who are working in the Northern Quarter or the Arndale, key workers or young professionals just out of University.
“The blocks are only ten minutes from the city centre and provide quality accommodation at a price people can afford.”
Keith Maddin, of Cabot Square Capital added: “We’re delighted to be involved in what is a first of its kind Build To Rent residential project in Manchester. Tribe is an important part of the wider regeneration of the whole area, which will help create better communities, jobs and greater affluence for local people.
“We believe this model will provide a blueprint for the future of private renting in the UK.”
Marie Hodgson, Head of Area for Greater Manchester at the HCA, said: “The burgeoning city fringe has become one of the most exciting and fastest growing areas of Manchester in recent years, and is a key location in the context of the HCA and Manchester City Council’s Manchester Place initiative.
“The transformation of the Tribe buildings marks the next major step for the area’s residential growth, providing workers, young families and graduates, among others, a vibrant, affordable place to rent on the doorstep of the city centre.”
More info: www.tribeapartments.com
