Offering luxury living with hotel-style amenities, W Residences brings something a little different to the Manchester investment scene, and it’s put the city on the map for a wider pool of property investors.
Manchester has become a firm favourite among many overseas investors in recent years as more and more buyers look to diversify away from London. But the latest offering in the form of W Residences is reported to have brought investment from foreign buyers who didn’t even know where Manchester was.
It’s not the only more upmarket development that’s changing the face of the North West city, with the likes of Nobu Manchester also contributing to the new trend of hotel and residences combining to add a touch of exclusivity for buyers.
W Residences will comprise 217 high-end apartments (with one, two or three bedrooms) between the 17th and 41st floors of the new £400m tower, with the hotel and numerous luxury facilities covering the lower floors, including a gym and yoga studio, on-site bars and eateries, and a pool and wellness lounge for the exclusive use of residents and guests.
The development is a three-way venture between the Marriott brand, Salboy, and the Relentless Group, with the land owned by former footballers Gary Neville and Ryan Giggs.
Scaling up the city
Manchester is a hive of opportunity for property investors seeking lower prices, stronger yields, and better prospects of capital gains than many other parts of the UK.
The city has consistently surpassed London for house price growth in recent years, while new businesses continue to move in and boost employment opportunities for Manchester’s growing population.
W Residences, alongside numerous other new developments that form a key part of the regeneration of the city centre, offers homes at a higher price point for investors looking for urban elegance. The units have sold quickly, which demonstrates a growing appetite for higher-end opportunities in Manchester.
These developments are also boosting the city’s prominence on the global stage, with overseas investors who had never considered Manchester getting in early on W Residences.
W Residences: location is key
The population of Manchester city centre is nearing 100,000 people and continues to surge, creating more opportunities for property investors looking to target high-demand areas.
Many of the locations being targeted for development are considered ‘underused’ parts of town, and are often part of wider masterplans to utilise and enhance every corner of the city to ensure a high standard of living for its growing number of residents.
W Residences is located on Jackson’s Row, in a highly coveted postcode area within walking distance of Manchester’s key landmarks, such as the city’s iconic Town Hall and Central Library, as well as the upmarket Spinningfields area.
The development’s central square will offer a retail and cafe culture thanks to the creation of a new public-use area with shops and eateries.
Next door in another new development will be nine floors of office space, covering 75,000 sq ft, and many international brands and companies have already signed up.
Manchester on the map
The hotel section of W Residences will be only the third W Hotel in the UK, following London and Edinburgh, which is testament to Manchester’s rising status as a target for luxury development.
Andrew Antoniades, head of lending at CBRE which has provided a loan for the completion of W Residences, said: “We were delighted to have worked on securing a loan from our partners for this pioneering scheme in the heart of Manchester. It typifies a truly mixed-use, future-proofed development that will benefit the local community through the provision of leisure, retail, residential and office space.”
W Residences is expected to complete in 2027.
If you’re interested in property investment in Manchester, register with BuyAssociation today to learn about our investment opportunities ahead of the market. You can also browse some of our current UK property investment opportunities here.
