Cheltenham Place, Manchester

CHELTENHAM PLACE
MANCHESTER

The project was launched last year and is being built by one of the larger developers here in the UK and by a developer we have worked with for a number of years. On all of their projects they have built a fantastic quality of apartment and have delivered on all their rental assurance obligations too.

In order to fulfil the current demand in Manchester amongst young professionals and students for small, affordable studio apartments, the developer will be building a project designed specifically to cater to this market. Having implemented a similar strategy on a block very close by that is currently 100% occupied, we feel they have created a blue print for success within this specific within this segment of the market.

Cheltenham Place, Manchester

Introducing the next project in a long list of successful ventures by an award-winning developer. We welcome you to Cheltenham Place. These luxury studio apartments are perfect for professionals, graduates and students, and come with all the amenities you need to make life easy. Residents will have access to a gym, laundry facilities and bike storage, as well as being just five minutes’ walk from Salford Crescent station.

And if that’s not enough, we’re also close to the incredible city of Manchester, either a short journey by train or car, or a leisurely walk. This development follows on from the hugely popular project across the road, now enjoying 100% occupancy. Cheltenham Place is eagerly awaited by investors and residents alike, bringing hundreds of luxury studio apartments to this thriving city. Cheltenham Place will provide 353 luxury studio apartments right next to Salford University. With a range of on-site facilities and excellent transport links, this development offers the perfect solution for contemporary living, developed just across the road from our existing X1 project.

Our new scheme takes our commitment to professionals a step further, creating a space for both those who are learning and those now earning. X1 Cheltenham Place will be the perfect place to transition from education to the workplace without having to move home.

Useful Information

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Development Facts

DEVELOPMENT NAME

Cheltenham Place

DEVELOPER

X1 (36 projects to date)

DEAL STRUCTURE

7% NET rental return for 10 years

COMPLETION

Q4 2024

LOCATION

Salford, Manchester

TENURE

Leasehold 999 years

GROUND RENT

Peppercorn (£ per annum)

SERVICE CHARGE

£2 / sqft per annum

PAYMENT PLAN

£5,000 reservation fee

50% on exchange

Balance on completion

FURNITURE PACK

£2,995

MANAGEMENT COMPANY

X1 Lettings

FACILITIES

Coffee Shops
Gymnasium
Bike Storage,
Rooftop Garden

NUMBER OF UNITS

353 Studio Apartments

PRICE

Studio (23sqm-24sqm)
£124,995 – £129,995

Investment Highlights

Prices from £119,995
7% net assured for 10 years
Built by an award-winning developer
5 minutes’ walk from Salford Crescent Station
Right next to Salford University
Mixed-use Scheme. Will be advertised as student accommodation (and getting student rent levels on the property) but can also be let to professionals as well.
104,000 students in the city
5 min walk to Salford University
20 min bus ride to Manchester University and Manchester Metropolitan University

Rental Financials

Prices taken from X1 The Campus current prices (when Cheltenham Place is completed, rents will potentially be higher)
Standard studio £170 per week (£8,840 per annum)
Large studio £183 per week (£9,516 per annum)

Opulent
Honest Opinion

X1 Cheltenham Place will be an iconic landmark development in Manchester. Following on from the success of Phase 1, which has already completed and is operational, we are expecting this project to be equally as popular amongst both students and young professionals. As a result void periods should be low which is testament to the developer providing a 10 year guarantee. It’s not often we come across rental assurances as long as this and that too from a developer who has paid out over £45m in assured rent obligations in the past.

With all of the regeneration taking place in Manchester at the moment we are seeing a stark rise in population figures which is leading to a greater demand for property to buy and rent. As such property prices in Manchester are rising above the national average rate and therefore Cheltenham place represents a good opportunity for capital appreciation in the mid to long terms lets say over the next 5 years or so.

The downside if there was one is that the project is off plan and therefore investors will have to wait some time before they see a return on their investments.

All things considered, however we think this will be a good mid to long-term investment and should deliver on both capital appreciation and rental yield. Providing one can afford to wait while the project is built to see a return, we feel it would make a good addition to your property portfolio.

This Property is
TPS Ready!

If you invest in this property, Opulent with its very own dedicated nationwide lettings and management company will help ensure you receive an effortless letting experience built on its thorough tenant management process, dedication to compliance, and expert market knowledge. We take the stress out of property maintenance by proactively overseeing repairs, renovations, and routine inspections. Our streamlined reporting system ensures you are always kept informed of how well your property investment is performing and help you achieve the claimed returns on your investments effortlessly. What’s more we will even help you dispose of your property to another investor when the time comes to exit.

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