Mill Conversion to Residential – Bolton

Greater Manchester

Starting prices from £95,000
Reserve from under £5,000

• Period mill converted into 124 luxury apartments
• One, two and three bedroom properties available
• On site concierge
• Stunning basement leisure suite with swimming pool & exercise rooms
• Residents cinema
• Investors – 8.5% rental returns

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Property Overview

A Northern Powerhouse investment hotspot.

With its Manhattan style living areas featuring exposed brickwork, high ceilings and wide open spaces the development is set to be the most in demand address in the North West.

Basement leisure facilities including an indoor swimming pool and exercise rooms offering a range of group fitness sessions, yoga and wellness activities as well as a private residents cinema which can be booked for private screenings through the concierge service mean that the development offers a living location unlike anything in the region.

Its location, just a few minutes’ walk from the centre of Bolton’s bustling town centre, 250 metres from the train station with Manchester city centre’s Oxford Road station just 15 minutes’ ride away and metres from the junction on the M60 motorway with links to the Northern Powerhouse cities of Manchester and Liverpool means the development could not be better located.

Location, quality, styling and facilities are what will catch the eye, for investors however starting prices of just £95,000 and 5-year gross rental yields of 8.5% offer security of income and the prospect of high capital growth.

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UPTO 75% LTV Mortgages available

8.5% rental yields

Fully managed – armchair investment

Location Overview

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Location:
Greater Manchester, England

Population:
280,400 (+ 16,600 extra forecast by 2022)

Economy:
£4.6 billion (+ £2.9 billion extra forecast by 2034)

Employment:
106,900 jobs (a rise of 2% between 2010 and 2014)
15,500 new jobs forecast by 2034

Key Employment Sectors No. Jobs
Public Sector 27,900
Wholesale/Retail 19,800

 

Other Key Industries

  • Manufacturing
  • Healthcare
  • Logistics
  • Retail
  • Leisure
  • Education

Recent Developments

  • Aldi have recently opened a 5,600 square meter major logistics center in April 2016, the company’s largest regional distribution site in the UK.
  • MBDA – 9200m2 manufacturing facility and offices.
  • Joy Global – £10 million production and testing facility.
  • Exeter Property Group – 33,000m2 distribution facility.
  • Lidl – 177,000m2 site acquired to support ongoing expansion.

 

Key Facts

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Key Facts – The Development

  • A landmark building close to Bolton town centre
  • A former textile mill, originally built in 1884
  • Now being converted and extended to a high specification
  • Building will feature a gym, spa, swimming pool and cinema room
  • 124 top quality apartments to be created on six storeys
  • A mix of highly marketable one, two and three bedroom properties
  • Completion date July 2019

Key Facts – The Investment

  • Rental yields of 8.5%
  • Highly attractive pre-market prices
  • Reserve with a payment of only 5%
  • Excellent capital appreciation potential
  • Massive demand for Manhattan loft-style apartments
  • Set in an area of significant inward investment

Key Facts – Bolton

  • A major town in Greater Manchester
  • Property prices benefiting from the Manchester ripple effect
  • Receiving ‘Northern Powerhouse’ funding
  • Likely to benefit from new HS2 / HS3 rail links
  • A local economy worth £4.6 billion
  • Rising employment and a rising population
  • Over £1 billion of inward investment recently secured
  • £260 million recently invested in the town centre
  • A further £100m of projects due to begin in 2017

 

Development Overview

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According to Manchester Council’s Economic Factsheet, the single largest increase in employment occurred amongst corporate managers and directors, whose numbers grew by 4,000 between 2014 and 2015. Scientific and technical professionals represented another big growth market, increasing by 2,300 over the same period.

There seems little doubt that with so much local investment aimed at boosting high value, high skill industries, Bolton will see a steady escalation in demand for top quality accommodation aimed at the discerning professional market.

Recognizing this, the conversion scheme is seeking to create some of the most desirable new properties in the town. For residents, it will provide luxurious town center lodgings, while for investors, it promises ready demand, easy affordability and guaranteed yields of 8.5% for 5 years.

  • A convenient location, just 500m from the town centre
  • An exceptional specification
  • 124 Manhattan style apartments
  • One two and three bedroom properties available
  • Aimed at the profitable professional market
  • May be rented out as fully serviced apartments
  • Many sustainable design features, including biomass boiler
  • Exceptional rental demand
  • Demand set to rise further in the coming years

 

Flythrough Video

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