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UK Housing 
Manchester

FINAL APARTMENTS RELEASED AT HIGHLY SOUGHT AFTER MANCHESTER PERIOD CONVERSION PROJECT

Following the complete sell out of all available units within weeks of first launching off-plan, the final collection of homes have been released at Manchester’s iconic Spinning Mill. Set on the banks of the Rochdale Canal in the city’s popular Ancoats district, less than 10 apartments remain within the sympathetic restoration of a Grade II listed former flax mill, with prices starting from £169,950, available through LH1 Global.

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Spinning Mill has proven popular with purchasers from the New Islington neighbourhood and wider Manchester community due to its close proximity to the city centre, as well as international investors attracted by the potential rental yields on offer. Recently completed, the anticipated AST yields at Spinning Mill are 7% with Short Let yields expected to reach 17.5%. 

 

The last remaining one and two-bedroom apartments set within the bold red brick industrial building, with its towering chimney that has dominated the city's skyline for over 150 years, benefit from high ceilings and a tasteful blend of period features and modern touches. 

 

The interiors maintain many of the mill's original aspects with each apartment featuring exposed brickwork walls and ceilings, steel and wooden beams, original wood flooring and high ceilings that create an industrial chic character, with many benefitting from exceptional views across the city skyline.

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Rayna Hunter, CEO of LH1 Global commented: “Spinning Mill has been one of Manchester’s most popular and successful residential developments in recent history and the release of this final collection of completed apartments has been highly anticipated.

 

“The development has a lot of excellent selling points that has meant it has appealed to a wide range of buyers, with competitive entry prices and inner-city private parking enticing first time buyers and owner occupiers, whilst this also positively impacts rental values that are important for investors and buy to let landlords.”

Offering a premium standard of living, Spinning Mill is all about space and location. Well positioned in Manchester’s affectionately known ‘Little Amsterdam’, due to its collection of canals and waterway walks, the development has also appealed to young professionals coming to the city in search of good career prospects and a lower cost of living compared to London. 

 

Manchester has quickly emerged as one of the UK’s most sought-after city centre residential locations for investors and owner occupiers, due to its thriving business sector and tourism industry, with visitor numbers up 20.6% in the past 12 months.

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According to Lonely Planet, the city has recently been described as one of the must-visit destinations in the world, thanks to its truly eclectic slant as well as being dubbed one of the Top five Meeting Destinations in Europe by American Express Global Business Travel 2023, which is a major draw for investors targeting the short let market.

 

In terms of property value growth Manchester is one of the best performing locations in the UK, despite difficult market conditions across the country in recent years. The UK’s new ‘second city’ has dominated growth charts over the last 20 years and has surpassed every other major UK city.

Manchester’s housing market has continued to perform excellently with property prices increasing by 2% in 2023 and forecasts of a 4.5% value uplift by the end of 2024 remaining on track.

 

For further information on the final remaining apartments at Spinning Mill contact

LH1 Global on Tel: 0207 129 7900 or Email: info@LH1.Global or visit www.spinningmill.co.uk

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