JLL reports strong interest in Royal Mills
Jones Lang LaSalle said it sold 20 apartments in the first week after releasing apartments for sale at Royal Mills on the edge of Manchester city centre.
The initial release of 40 newly converted one, two and three bedroom apartments, at the grade 2-listed development, between Northern Quarter and Ancoats, saw the purchase of 20 within seven days achieving circa £240/sq ft.
Two further release phases are planned for apartments at the 120-unit development. The refurbishment of the mills was started by ING Real Estate which sold the site to Renaker Build earlier this year.
Anthony Stankard, director of Jones Lang LaSalle, said: "Royal Mills reflects Manchester's continued evolution, with new design juxtaposing industrial heritage.
"We're planning two further release phases of the apartments but the development's initial popularity is proof high quality design will always be of interest to both local buyers and long term investors. While demand still outstrips supply, Manchester's stock of good quality property is helping to bolster the city centre residential market."
Apartments at the development range from over 500 sq ft to upwards of 1,400 sq ft with prices starting at £119,950.
