Northern Quarter Apartments sold 11 months before completion
Muse Developments is pleased to announce that it has forward sold all 77 apartments at its One Smithfield Square scheme in Manchester.
The apartments are located in the award winning £120million Smithfield scheme in the heart of the cities Northern Quarter, and have been sold to GRE Investments.
Wes Erlam, senior development surveyor for Muse explains: “This is great news for the scheme and for Manchester. It’s a sign that the Manchester market is now recovering and proving an attractive option for investors.
“All of the homes at Smithfield are now sold a year before completion — a fantastic result for Muse, our development partner Manchester City Council, and funding partner the Homes and Communities Agency (HCA). We still have 6,000 sq ft of ground floor commercial space available and look forward to complementing the scheme with a selection of retail and restaurant options.”
Andrew Lock, development director at GRE Assets, added: “We’re delighted to have completed the purchase of One Smithfield Square. This represents our first investment in Manchester, a city we firmly believe contains all the ingredients we’re looking for - a strong economy, excellent transport links and world class university.”
One Smithfield Square is a mix of one, two and three-bedroom apartments. GRE will now rent the apartments at the scheme to the local market.
Hollie Reynolds, residential sales and marketing manager for Muse said: “There has been a fantastic interest in One Smithfield Square, and it’s great that the homes at the scheme will now be available to rent. For those customers who are still interested in buying in the city, we have plenty of options available including our award winning Islington Wharf scheme and Vimto Gardens.”
As part of the Smithfield scheme — Muse has also received planning permission for an initial stage of shell restoration and refurbishment of the grade 2-listed building known locally as the Mackie Mayor owned by Manchester City Council.
The planning approval will allow Muse to carry out the remedial works necessary to then market it appropriately to potential end users.
For further information the our residential schemes in Manchester please visit http://www.urban-cityliving.co.uk/index.php