Co-organised by The Standard and Sing Tao The Standard Overseas Property Online, the Overseas Property Facebook Live gathers insights from industry professionals and introduces outstanding property projects from top markets around the world.
In the latest episode of Overseas Property FB live held yesterday, Brian So, Senior Manager, International Residential Sales, CBRE Hong Kong, shared their views on Manchester’s property market and introduced X1 Platinum Tower. Samuel Chan, Founder of Britannia Studylink, shared his views on Manchester’s education scene.
Dubbed the “Capital of the North”, Manchester has, in recent years, emerged as a top international city, being increasingly recognized for its livability. A great place to live, work and play, Manchester is topping the list as more and more people and businesses are relocating to this thriving northern hub.
“Manchester is also reputed as one of England’s most cosmopolitan cities,” Brian So, Senior Manager, International Residential Sales, CBRE Hong Kong, remarked. “It is a vibrant cultural melting pot, with a colorful Chinatown - a large ethnic area in Manchester city center.”
In addition, Spinningfields, the core business district known as “the Canary Wharf of the North”, as well as Media City, is also located in Manchester. Forty percent of the top 500 companies in the northwest of the UK have set up their headquarters in Manchester, attracting many young professionals in both the finance and technology industries to live in this city.
Under the Northern Powerhouse initiative, Manchester is set to gain the greatest economic benefit with major investments in projects at a national level. HS2, for instance, is a £56-billion project to link Manchester International Airport with Piccadilly Station in the city center, shortening commute time between London and Manchester to merely 70 minutes. The project will bring as much as 834 million pounds of direct economic input for Manchester.
So pointed out that in the past five years, property prices in Manchester have increased by more than 35%, with the city center leading the way.
In this scenario, investors would do well to consider X1 Platinum Tower, a brand new iconic tower project at the very heart of the MediaCityUK that is well connected to all of Greater Manchester via the adjacent Metrolink tram stop. The development provides 365 exclusive luxury apartments with floor-to-ceiling glass windows to overlook the stunning views of the riverside docks, MediaCityUK and Manchester city.
X1 Platinum Tower will join a thriving community alongside a dedicated transport infrastructure, with easy access to the headquarters of many international companies, such as BBC, ITV, Ericsson, Bupa and Kellogg’s.
The tower is set within a modern landscaped public realm. The beautifully landscaped gardens will be at your doorstep, with bars and eateries, as well as shopping malls, including the Lowry Outlet Mall, only a minute away on foot. Hongkongers will be impressed with its wide range of amenities, such as the state-of-the-art gymnasium and cinema, as well as retail and leisure facilities located on-site.
Within a mere 4-minute walk, there are two Metrolink stations, Broadway and Harbor City. It takes only 12 minutes to drive to the City center. There are also bus stops at your doorstep, with four bus lines adjacent to X1 Platinum Tower, enabling easy access to the whole Greater Manchester.
Chan pointed out that low accommodation prices and tuition fees in Manchester make it an ideal base for foreign students to study in the UK. He suggests University Academy 92 in Manchester, which provides intriguing sports-related training courses aside from traditional courses such as Business Studies and Computer Science.
Chan reminded parents to pay attention to ISI reports if they are looking for private schools; they can check the Ofsted rating if they are browsing for state schools. The oversubscription situation mainly applies to ‘Outstanding’ schools in Manchester.
According to So, Manchester offers boundless employment opportunities, and there is a large pool of high-quality tenants, consisting of young professionals, college students and families. X1 Platinum Tower is therefore expecting a staggering 6% rental yield.
The starting prices for 1-bedroom apartments (419 sq ft) are £202,995, with a management fee of £2 per sq ft per annum. Ground rent is exempted, providing investors with a lower barrier to entry as well as greater flexibility for resale. The estimated completion of the new phase will be in Q2 2025.
Those who wish to obtain more information can visit the exhibition organized by CBRE Hong Kong on September 3&4 at Sheraton Hong Kong Hotel in Tsim Sha Tsui.
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X1 Platinum Tower Exhibition
Date: 3-4 September 2022 (Sat & Sun)
Time: 11am-6pm
Venue: 3/F, Sheraton Hong Kong Hotel & Towers, 20 Nathan Road, Tsim Sha Tsui
Contact: CBRE (852) 2820 6553/ ipm.hongkong@cbre.com.hk
