54869032 Albion Wharf, Trafford Street

54869032 Albion Wharf, Trafford Street

€  538500.00

General Info

Price € 538500.00

Location

Condition

Posting date 18, Jun 2020

  • 3 Bedrooms
  • For_sale
  • $538500.00

Description

SummaryAn investment within a new statement building for ManchesterAn iconic building providing luxury residential accommodationUninterrupted views over Manchester and beyondHigh quality specificationLuxury 3 bedroom-apartment on the 15th floor£538,500 (£5,468 per sq m / £508 per sq ft)Let at £2,000 per month. Overall gross initial yield 4.5%Price supported by recent sales within Axis TowerAvailable for immediate online purchase by clicktopurchase®The property is sold with the benefit of a rent guarantee to ensure an investor has no issues receiving income in light of the Coronavirus Act 2020 Part 1 Section 82LocationManchester is located approximately 338 km (210 miles) northwest of London, 56 km (35 miles) east of Liverpool, 64 km (40 miles) south west of Leeds and 137 km (85 miles) north of Birmingham.Manchester benefits from first class road communications with more than a quarter of the national motorway network running through the city. The M60 Motorway provides direct access throughout Greater Manchester to the national motorway network including the M6 Motorway to the south and the M62 motorway to the north as well as the M61, M66, M67 and M56 Motorways.In addition, the city has two mainline train stations, Manchester Piccadilly and Manchester Victoria, as well as the city centre stations including Deansgate, Oxford Road and Salford Central. These stations connect Manchester to the rest of the country with several services an hour to London Euston within approximately 2 hours, Liverpool within approximately 34 minutes, Leeds within approximately 50 minutes and Birmingham within approximately 1 hour and 30 minutes.In addition, the arrival of the proposed HS2 rail link will significant reduce journey times between the major northern and southern economic centres of the United Kingdom. The new railway line connecting London to Birmingham, Manchester and Leeds will triple the capacity of trains across the entire route. A new HS2 station would be built next to Manchester Piccadilly and is expected to open between 2035-2040. Manchester to London journeys would take 1 hour 7 minutes (down from approximately 2 hours).Manchester Airport is situated approximately 16 km (10 miles) south of the city centre and is the United Kingdom’s third largest airport handling over 22 million passengers a year using more than 60 airlines flying to over 200 destinations.The city is also served by the largest tram system in the country, known as The Metrolink. Stretching from Bury, Oldham Road and Rochdale to the north, Salford and Eccles to west, Manchester Airport and Altrincham to the south and Ashton-under-Lyme to the east.Manchester is the largest economy in the United Kingdom, outside London.The city is recognised as a world-class location in a plethora of sectors including business, financial, employment, retail, leisure, sport, tourism, culture, learning and resident population. The region has an economy bigger than that of Wales or Northern Ireland with the Greater Manchester boroughs having a gva of £62.8 billion. Attracting more foreign investment in the past decade than any other city outside of London, Manchester is home to over 2,000 foreign owned companies including Kellogg’s, pz Cussons, Siemens, bny Mellon and Google. (Source: Invest in Manchester)The city is a major retail and tourist destination. Shopping centres such as Manchester Arndale and into Trafford Centre as well as high street destinations such as Exchange Square and Market Street offer a huge selection of international brands combined with department stores including John Lewis, Selfridges and Marks & Spencer.Manchester also has one of the largest student campuses in Europe with four universities. According to the 2019 Academic Ranking of World Universities, Manchester is the 33rd best university in the world, the eight best in Europe and the sixth best in the UK.Manchester is an established global sporting and cultural city with two world class football teams in Manchester City and Manchester United, a test cricket ground at Old Trafford, the Manchester Arena which is visited by over one million people a year at music and sporting events, the bbc Philharmonic, The Halle Orchestra as well as various museums and galleries.SituationAxis Tower is situated within the heart of Manchester city centre, at the junction of Whitworth Street (B6469) and Albion Street (A5103). The property is adjacent to the Metrolink tram and train station, just minutes from the M62 and the city centre. Deansgate Station is within a three minute walk and Manchester Airport is just 30 minutes away, with daily international flights to the world’s most important destinations.The property is a short walk from all Manchester has to offer. Landmarks nearby include Manchester Arena, China Town, The Bridgewater Hall international concert venue, as well as the city’s extensive retail and leisure amenities. The site sits on a busy, bustling transport exchange in a vibrant, evolving quarter of Manchester.DescriptionAxis Tower comprises a new, iconic and luxury development built over 27 storeys providing a total of 170 apartments. The development provides 14 car spaces.With its own exclusive footbridge, axis has an unmatched sense of arrival. The double height reception adds to the statement entrance, with a natural contrast between the luxury finishes and projecting concrete columns that run to the penthouse and effortlessly support the building. Axis is elegant in style and solid in structure.With its beautifully detailed reception and 24 hour concierge, axis offers Manchester a new level of prestige living. The development comprises a range of three-bed, two-bed and one-bed apartments.Axis Tower was recently “Highly commended” under the category “Apartment Development of the Year” at the Insider’s 2020 North West Residential Property Awards.The investment for sale is Apartment 15.06 positioned on the 15th floor. The apartment occupies a corner position with views to the north and west over the city centre.Note: The images and Virtual Tour are in respect of apartment 19.06 which is the show apartment. Apartment 19.06 and 15.06 are the same in size and layout, with 19.06 demonstrating the finish. Therefore, please be aware that the specific furniture and finishes in the photographs do not form part of the sale in respect of apartment 15.06.The apartment is sold furnished with the benefit of the “Garwood” furniture package. Details of the package can be accessed from the Download section.The apartment owners benefit from a Premier ten-year New Build Warranty. Appliances have usual manufacturer warranties whilst the furniture package has a twelve-month manufacturer warranty.AccommodationApartment 15.06 provides the following accommodation:Living / Dining Area / Kitchen 4.32m x 7.84m 33.87 sq mBedroom 1 5.74m x 3.37m 19.34 sq mBedroom 2 4.28m x 4.77m 20.42 sq mBathroom 2.10m x 2.00m 4.20 sq mBedroom 3 5.02m x 2.64m 13.25 sq mEn-suite Bathroom 2.00m x 2.14m 4.28 sq mCloakroom 1.95m x 1.60m 3.12 sq mNote that the above dimensions are indicative, prior to measurement on completion.The total floor area measured post completion is93.18 sq m(1,003 sq ft)The three-bedroom apartments at Axis Tower are large and luxurious with a high level of natural light and stylish, contemporary design.SpecificationThe specifications provided by the development are as follows:Shell & coreConcrete frame with concrete floorsConcrete lift and stair coresAluminium window framesCurtain walling to entranceMetal cladding systemEntrance lobbyImmediate contemporary impactLarge format porcelain floor tiles from leading European design housesPlaster wall details and timber trimsRecessed anti-glare LED lighting with illuminated shadow gapdetails and feature illuminated centrepieceCommunal areas and liftSpacious, practical lift lobbiesDesign in keeping with the architectural themeApartment specificationRange of 1-, 2- and 3-bedroom apartments, with a variety of en-suite and family bathroom configurationsAll have co-ordinated ambience for modern living, including open plan galley kitchen, living room and en-suite bedroomsKitchensContemporary bespoke designed kitchens with quartzworktop & glass splashbackQuooker instant hot water tapStainless steel under slung fitted sinkFitted washer/dryerAppliances from high quality European manufacturersincluding Neff, Bosch and ZanussiBathroomsContemporary tiling designs inspired by Mosa porcelainrangesTiles sourced from Porcelanosa and other European tilemanufacturersDesigns incorporate a combination of co-ordinated largeformat floor and wall tilesRecessed mirrors with feature overhead lighting and sanitaryware, sourced from leading brands such as Duravit, Vitra and Villeroy and Boch, and Swiss manufacturer LaufenBrassware from leading brands such as HansgroheFlooringWide plank oak veneered engineered flooring manufacturedto the highest qualitySourced from leading brands such as Junkers, Ted Todd andHavwoodsCarpets from leading British brands – 80% wool / 20% nylonfor durable hardwearing surfaces in vibrant, contemporarycoloursInterior designThe interior design throughout has been carefully considered to flow through the internal finishes, providing a contemporary, stylish feel that’s still welcoming and relaxing.Ceilings have anti-glare LED lighting with feature lighting points for owners to choose their own pendants and fittings for a more personal mood and ambience. Wall finishes feature crisp plastered surfaces painted with white vinyl matt emulsion to provide owners with a blank canvas for their own colour choices, or as a final finish in itself.Solid wood veneer doors will feature complimentary architraves and skirting boards, completed with satin stainless steel ironmongery.Council TaxThe apartment has been assessed for Council Tax within Band A, generating an annual charge currently of £1,097. Note that this is paid by the tenant.TenureApartment 15.06 is held leasehold for a term of 125 years from February 2020. The ground rent is 0.1% of the value of the apartment.TenancyApartment 15.06 has been let at £2,000 per month for 15 months from 27th June 2019. A £2,000 rent deposit is held. The Assured Shorthold Tenancy can be found in the data room.Should you wish the investment to be managed, we recommend Alliance City Living. Further information available on request.Service ChargeThe service charge budget is £3,973 (equating to £3.96 per sq ft). Full details of the service charge costs are within the data room.The property is currently managed by Alliance City Living.VATPlease note that Value Added Tax (VAT) is not payable.Recent Sales within Axis TowerApartment Floor Bedrooms AreaSq M / Sq Ft Sale Price Sale PricePer Sq M / Sq Ft12.06 12th 3 93.18 / 1,003 £468,625 £5,029 / £46714.06 14th 3 93.18 / 1,003 £505,074 £5,420 / £50418.06 18th 3 95.50 / 1,028 £518,880 £5,433 / £50524.06 24th 3 95.50 / 1,028 £557,735 £5,840 / £543Note that these apartments are the same layout as the apartment for sale, 15.06. These sales completed between February and March 2020.ProposalWe are instructed to seek offers in the region of £538,500 (Five Hundred and Thirty Eight Thousand, Five Hundred Pounds), subject to contract.A purchase at this level represents a gross initial yield to a purchaser of 4.5% and a capital value of £5,468 per square metre / £508 per sq ft.Investment ConsiderationsAn opportunity to acquire a new residential investment within an iconic tower in Manchester city centre;A highly specified three-bedroom apartment;The property is let at £2,000 per month;The asking price is supported by recent transactions within Axis Tower;A purchase at the asking price is reflects a gross yield of 4.5% and a capital value of £5,468 per square metre / £508 per sq ft;Available for immediate online purchase.The property is sold with the benefit of a rent guarantee to ensure an investor has no issues receiving income in light of the Coronavirus Act 2020 Part 1 Section 82For full details please visit our website or view PDF brochure below* Sizes listed are approximations. Please contact the agent to verify actual sizes.

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