Delph Property Group sold 15% of the 145 apartments at the Hallmark building in Manchester’s Green Quarter over its launch weekend, the developer has announced.
Richard Forman, head of sales and marketing, said: “The demand we received during the first weekend of sales is a clear sign that experienced investors are seeing the opportunities that exist outside the capital. However, we also credit the demand to our 10% deposit offering, which has opened up access to the booming Manchester property market to first time investors.
“The virtual reality headsets we are using at the sales events are proving to be highly effective in generating sales and are a much welcomed leap forward in presenting off-plan development to the public.”
Work started on-site to construct the building, designed by Broadway Malyan, in January, with completion scheduled for 2019.
Sales events are to be held on a monthly basis. Although the scheme is investor-focused, Delph reported interest from owner-occupiers.
Delph bought the development plot with full consent from Fortis Developments for £25m in July 2016, simultaneously announcing the acquisition of Orleans House in Liverpool, where Bruntwood had previously secured a consent for 71 flats, for £9.6m. Delph told Place North West that 40% of the flats in the building have now been reserved.