Overview

  • Status Off Plan
  • Area Up to 94 m2
  • Location Manchester
  • Type Residential
  • Yield7% for 2 Years
  • Lease250 Years
  • Price From£154,613
Fully Managed | Full Deposit Protection

Carnaby Place,
Manchester

- Genuine 20% Below Market Value From £135,000

- Up to 10% Projected Net Yields | Short-Term Lets Approved

- 1, 2 and 3 Bedroom Luxury Apartments | Onsite Gym, Residents Lounge and 24-7 Concierge

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JLL 2020 MARKET ANALYSIS

"Manchester is forecast to see both the highest sales price and rental growth of any UK city over the next five years"

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Price Growth Forecast Next 5 Years
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Rental Growth Forecast Next 5 Years
overview

Carnaby Place

In a city full of exciting new developments and long-term growth forecasts, Carnaby Place stands out as one of the most attractive opportunities for property investors in Manchester. The development’s projected return on investment and robust security structure, including full deposit protection, makes Carnaby Place a great proposition.

  • 20% Below Market Value
  • 10% Projected Net Yield
  • Short Term Let Approved
  • 3% Interest On Deposit
  • From Only £135,000

Why Invest In This Property?

Carnaby Place is a new residential development in a prime location on the emerging Regent Road, minutes from Manchester City Centre.

The developments consists of 96 units, including one, two and three-bed apartments, as well as three-bed duplexes. The development offers contemporary living space in a modern residential community with an on-site gym, communal gardens, 24-hour concierge and residents lounge.

The property has a projected completion date of Q2 2022. In the meantime, investors now have the chance to lock in the current prices and benefit from growth during the construction period, as well as interest on deposited funds.

One of the core aspects of our business is sourcing. This means identifying and accessing secure property investments which represent fantastic value. Carnaby Place fits the bill perfectly.It is a significantly cheaper investment in comparison to other developments in Manchester’s city centre. Investors not only benefit from purchasing off-plan at the discounted rate, but, in this particular case, it is also clear that Carnaby Place is a lower entry-level investment in comparison to alternative off-plan schemes.

Furthermore, security is always a big concern with property investment, particularly with new builds. Carnaby Place offers full deposit protection (deposits are 30%), which is provided by an FCA Regulated trustee. This means you can proceed with peace of mind, knowing your funds are completely protected.

Given the prices of Manchester city-centre in 2020, the net yields have decreased in comparison to recent years. You can now expect a 4.5% to 5.5% genuine net return after running costs on most new apartments when letting through a traditional 12-month tenancy.

Carnaby Place is unique in the sense it allows for investors to operate their apartment under the serviced accommodation model, meaning a premium can be charged. Whilst the property will be fully managed on your behalf, having this short-term letting ability enables you to boost the rental yields up to a 10% realistic net return.

It’s very rare to find brand new developments that allow for such a structure.

You still have the flexibility to let on a traditional tenancy agreement, but for those investors looking to maximise income, the short term let model is a fantastic opportunity to achieve an above average rental yield.

Manchester was recently named by JLL as the most attractive residential city-centre investment location in the UK. This was reiterated in their most recent residential market forecast, in which, Manchester is projected to have both the highest rental price increase and average property value increases in the whole of the UK over the next 5 years. 

In addition to this, the regional growth looks promising on the whole with Savills projecting 24% regional growth from 2020 to 2024 in their latest residential market forecasts. 

Manchester boasts the largest student population in Europe, with over 100,000 students, of which 8,000 come from overseas. Moreover, there are a number of large corporate employers.

Combined, this makes Manchester the perfect buy-to-let environment, targeted to mature students and young professionals.

Furthermore, there is a critical under-supply of property. JLL report that 2,500 homes are needed in Manchester each year to meet demand, yet the average supply over the past 10 years is 1,150 per annum.

Located in the emerging creative quarter, Carnaby Place is creating a new contemporary living space for Manchester’s ever-increasing young, professional and residential community. Nestled in-between MediaCityUK and the edge of the city-centre, Carnaby Place has the opportunity to attract professional tenants and mature students working and studying nearby.

In addition, the volume of business visitors, family members and those visiting Manchester for tourist and leisure purposes means the short term let market is an attractive opportunity.

The rail lines between Manchester and London are well established – trains run regularly each day with a journey time of just less than two hours. This makes the capital, it’s airports, and a host of other locations, all easily accessible from Manchester. Furthermore, the plans for the new high speed railway, HS2, will cut the journey times by half, meaning a one hour commute. Workers could technically live in Manchester and work in London to avoid the high rental prices of the capital.

Furthermore, Manchester’s extensive tram network opens up the surrounding areas and beyond, with a further range of Northern Hub rail investments proposed for the near future to provide better links between major Northern cities.

Carnaby Place
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We pride ourselves on our extensive due diligence process. Use the button below to request a free investment brochure, including floor plans, images, pricing, developer information, legal documentation and financial illustrations. 

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Market Data & Analysis

The demand for quality residential property in Manchester is significant, recent statistics show that 2,500 new homes are needed each year over the next 10 years. This demand is driven by employment growth, which is forecast at a +1.3% annual increase, and population growth, which is expected to be +1.1% from 2020 to 2024. In short, Manchester is growing rapidly.

Both past performance and the future forecast growth in the city are exceptional. The average property value in Manchester is £257,000, as of 2020, and the average rental price sits at £1,145 per month.

Finally, Manchester has the highest forecasted property value growth and rental price increase over the next 5 years of any UK city – at +17.1% for capital growth and +16.5% for rental growth.

Source: JLL & Oxford Economics. 

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Location

Address

Regent Rd, Manchester, M5 3GY

M5 Postcode – Dec 2013 to Dec 2019 – average 35% increase in selling prices according to home.co.uk

Local Information

  • Uk’s largest regional airport

  • Some of the largest UK shopping centres – Selfridges, Harvey Nichols, Louis Vuitton etc

  • Europes largest student population of over 100,000

  • 65 of the FTSE 100 companies have a presence in Manchester

  • Amazon, Google, BBC and ITV all see Manchester as a key employment location

Data and Statistics

Expert Market Insights​

JLL UK City Centre Forecast – UK Living Research 2020

  • “The appeal of living in Manchester’s city centre continues to increase strongly as the local economy and population grows.

  • The five year sales price forecast is notably higher than the UK average and the highest forecast of any UK city.

  • The delivery of private for sale units will slow over the next three years, providing support for higher sales prices.

  • We expect rents to rise strongly over the next five years, reflecting both heightened demand and better quality stock.

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directors insight

What does Nick, our Founder and Director, think of Carnaby Place?

“With a strong network within the UK property investment sector, our company is consistently offered stock to present to investors. After conducting due diligence on Carnaby Place I was pleased to be able to present it to our existing and prospective investors.

The price range is simply unmatched for comparable developments in Manchester, plus the short-term let status means investors can drive up yields.

Add to that the deposit protection, interest on deposits, and very reasonable running costs which enables buyers to leverage with finance, and overall it’s clear the experienced developer has presented investors with a product which is significantly more attractive compared to the competition”.

Nick Hyland, Director

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 Our role is to advise, educate and present the most suitable property opportunities to investors. If you would like to discuss your options with the team you can call us on +44(0)203 627 3987, email us on [email protected] or send us a message below.

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Track Capital is designed to help new and experienced property investors navigate the market by providing unique investments, free of charge.

Company No: 11053957. TPO Membership: T02475. Track Capital is not authorised or regulated by the Financial Conduct Authority, we recommend investors seek advice from a qualified professional. Images are for marketing purposes/illustration only.