PROMOTION
IT'S been six years since the property crash of ‘08 but it would seem that buy-to-let is back. Big time.
“It makes sense for people who do have savings to look at property as a long term investment plan.”
Investors wanting a better return than the banks can offer are once again piling in to property with developers promising a queue of tenants and guaranteed yields.
Hopefully they are asking more questions and doing more homework about which developers and which schemes than six years ago.
Knight Knox International has been selling investment properties for a decade or more. They began life back in the day in an office in Worsley, selling overseas property as investments.
Since then they have launched more than 45 developments across the North West and now have a sales team of 40 based in Salford Quays, including two Mandarin speakers.
A fair number of those developments, sixteen in fact, have been by Liverpool based X1 Developments. It has delivered projects in Liverpool and Manchester and more recently in Salford. where it picked up sites which had hit trouble, such as Saltra, and is building out the development with phase one tenanted and phases two and three under construction.
It is currently converting the Town Hall on Chapel Street and recently completed X1 Chapel Street, a student accomodation block, with X1 Eastbank on the cards for Manchester.
Its latest development, X1 Media City, is a biggie –1,036 apartments in four 26 storey towers at Salford Quays.
The towers are a mix of one, two, and three bedroom apartments with some commercial space on the ground floor potentially for a residents gym and cinema and two floors of underground car parking.
Since launching sales last month they have sold 90 of the apartments to investors both in the UK and abroad.
Vermont has just been appointed contractor. Building work is scheduled to begin in February with an eighteen month build time for the first tower and car parking, and subsequent towers taking a year each to complete.
Samantha Jones is head of marketing at Knight Knox. She said, “Investors are much more savvy now and look for developers with a proven track record and agents who can help them through every process of the sale.
“X1 Media City is the biggest development in the North West and it ticks all the boxes which will ensure the apartments are always in demand – great transport links with the tram to the city and the proposed new line to the Trafford Centre, close to the motorway, on the waterfront, at the heart of Media City and close to Manchester city centre.
“Investors also want to have confidence and they are reassured that we have delivered every development we have said we were going to deliver, and everything has been launched when we said it would.
“Buyers have to have that trust.
“We have our regular clients who regularly invest so we are not surprised by the reaction so far. X1 Media City meets all their requirements and the price point is very affordable.
“We know there will be huge demand for very high spec apartments in this location and will assure a 6% yield for the first year.
“X1 have their own management arm so investors and tenants can be assured that the scheme will be managed and maintained to the very highest standards which are in the best interests of everyone.
“It’s an exciting time in the property world right now and it makes sense for people who do have savings to look at property as a long term investment plan.”
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