CASE STUDY | Vision, Manchester
Manchester has proven itself to be among the UK’s strongest residential property markets for many years, and the past 12 months have solidified its status with record-breaking growth, writes Ronald Garrett of Alliance Investments.
According to the latest Quarterly Manchester Market Report from Alliance City Living, there are just 561 vacant homes for let in Manchester, which is 1,526 fewer than at the same time in 2021 – a fall of approximately 75%.
This lack of supply has had a substantial impact on the rental market, pushing asking rents up 5.1% within a quarter, and marking the 13th consecutive month in which they have risen. It is always tough to predict how the rest of the year will go, and 2022 is no exception – however, the outlook remains largely positive for those investing in Manchester property.
Our latest Manchester residential scheme is Vision, which will be one of the city’s most prestigious new luxury buildings. It comprises 37 storeys of prime residential apartments in the heart of the city centre on Whitworth Street West, directly opposite AXIS and Deansgate-Castlefield tram station.
Demand may be high in Manchester, but that does not mean developers can skimp on amenities. Future tenants demand gorgeous living spaces as well as a variety of amenities. There is a push for companies like us to stay ahead of the curve in terms of offering something different from competitors.
That’s why we are focusing on creating a lifestyle for residents. In addition to offering 327 stunning homes, Vision will have a hotel-style entrance, with a two-storey glass atrium, mezzanine coffee shop and juice bar and a reception area with a concierge ready to assist residents as needed.
Vision also offers residents a chance to work on their fitness with a gymnasium and separate yoga and spin studio. There are opportunities to relax and unwind in the building’s cinema room and residents’ lounge, too.
Covid changed the way residents treat their living spaces as well. More people than ever are working from home, which has changed how we approach our communal spaces. Vision has a large, dedicated co-working space for this reason. There are also private meeting rooms.
We felt it was important to cater for new hybrid working patterns, from providing dedicated work space within the building right down to the details of painting the walls a soft, neutral colour to allow for ease of personalisation. With much of the workforce spending more time working from home, their surroundings become a lot more important. High ceilings, expansive windows and panoramic views all make a difference.
Successful developments like Vision are structured in such a way that residents do not have to leave their home. But this does not mean developers can ignore the importance of a location.
With Vision, we knew one of its key benefits was offering residents a M1 postcode with putting excellent transport links so that all the city has to offer is right on their doorstep. Accordingly, Oxford Road and Deansgate train stations, as well as all of Manchester’s major bus corridors, are within walking distance.
While public transit is important, it would be a mistake to ignore the car. Vision will give easy access to the city’s inner ring road which connects directly to the national motorway network. The nearest junction of the A57(M) is just a few hundred metres to the south of Vision and, from here, all regional destinations are within an easy drive.
Demand for apartments in the city may be at its highest, but it is not an invitation for laziness. Residents are looking for more than a place to sleep when they shop for a flat. They want a place where they can live, play and work. They want, in short, Vision.
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- Ronald Garrett is managing director at Alliance Investments
To find out more about the development, visit: www.alliance-investments.com/vision
All apartments will be available for sale through Alliance Investments, with properties available from £170,000.