MANCHESTER I UK
MANCHESTER I UK
Investment case01 Wilburn Wharf at a glance
03 The case for Manchester
05 Economic snapshot
07 Northern Powerhouse
08 Population growth
09 Manchester education
11 Global connectivity
12 National connectivity
13 Regeneration
Real estate market outlook19 Supply
21 Demand
23 Sales market
24 Rental market
Rivergate House25
27
35
44
Overview
Location map
Floor plans
Specification
Investment Property That Pays For Itself
2
INVESTMENTCASE
Hilton
Manchester Central
Great Northern
Metrolink
Deansgate Station
Piccadilly Gardens
Town Hall
Piccadilly Station
Regents Park
Sainsbury’s
Middlewood Locks
Old Granada Studios
Castlefield
Universities
MOSI
MediaCityUK, Salford Quays
Spinningfields
St. John’s
St. John’s
River IrwellRIVERGATEHOUSE
Wilburn Wharf
Built for livingA new luxury waterside residential community just minutes from Manchester’s central business district
WILBURN WHARFAT A GLANCE
WalkingdistancefromSpinningfields–the‘CanaryWharf of the North’
ClosetokeytransporthubsincludingDeansgate,CastlefieldandOxfordRoad
QuickaccesstoMediaCityUKandtheSalfordQuays business and leisure area
Well-positioned to leverage the growth and regeneration of Manchester city centre
KeypartofawiderplantoregenerateManchester’s waterways and provide much-needed new residential capacity in the heart of the city
Centrally located
Primed for growth
4
INVESTMENTCASE
Economic prosperity and a growing population are driving a strong case for investment in the UK’ssecondcity.AcasefurtherboostedbytheUKgovernment’sNorthernPowerhousestrategy,which puts Manchester at the heart of GBP7 billionofinvestmentininfrastructure,education,employmentandculture.
THE CASE FOR MANCHESTER
2009-14saw5.4%annualgrowthinprivatesectorofficejobs,aheadofLondon’s3.8%
57,000jobshavebeencreatedinCentralManchestersince 2011
110,000newjobswillbecreatedby2024,with36,000moreofficejobsexpectedinCentralManchesteroverthe next decade
Disposable income of Manchester residents is forecast togrowby28%overthenextdecade
Annual GVA growth - Greater Manchester Manchester’s employment outlook
Gross Value Added (GVA) is a measure ofthe value of goods and services produced in anarea,industryorsector.
GVA forecast togrow32%toGBP75.2billionby 2024
Annual GDP growthof3.5%,aheadoftheUKaverage(2.8%)
Business is booming throughout Manchester,whoseGVA(GrossValueAdded)nowsurpassesthatoftheNortheast(GBP42billion),WestYorkshire(GBP43billion)andMerseyside(GBP25billion).
ECONOMIC SNAPSHOT
INVESTMENTCASE
6
-4.0
-3.0
-2.0
-1.0
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
1992 1996 2000 2004 2008 2012 2016 2020 2024
% annual
1.15
1.20
1.25
1.30
1.35
1.40
1.45
1.50
1.55
1.60
1991 1995 1999 2003 2007 2011 2015 2019 2023
Source : GMFM
wo
rkin
g p
op
ulat
ion
(mill
ions
)
Manchester is a leading hub for a number of important industries:
GBP56 billion GVA per annum
Greater Manchesteraccounts for 40% ofeconomic activity in the Northwest
40%
1.39 million workers
1.39M
97,500 businesses
Strong labour market performance
3.5%32%
Citycentreemploymentwillsurpass400,000jobsby 2025
CentralManchester’spopulationisexpectedtogrowtoover560,000by2025
That’s50,000newresidentswhowillneedcitycentre housing in the next decade
The city centre is expanding outward to accommodate this demand
Growth across Greater Manchester City centre growthCurrentlyhometo2.73millionresidents
Expectedtoattractmorethan500,000newresidents by 2025
TheUK’slargestemploymentcatchmentareaoutside of London
Over 7 million residents within an hour’s drive
InvestingGBP6billionintheNorth’sroads,toreduce congestion and enhance connectivity
Already a world leader in research and now a new GBP235 million Sir Henry Royce Materials Research InstitutebasedinManchester,withcentresinLeeds,LiverpoolandSheffield
A devolution deal with Greater Manchester and theUK’sfirstmetro-wideelected mayor outside London from 2017
A Great Exhibition in the North to showcase thebestNorthernart,culture and design
GBP78 million funding for The Factory Manchester,anewtheatre and exhibition space
New modern trains and20%morecapacityto tackle overcrowding
Developing new high-speed rail links to reduce journey times from London to Birmingham and between Northern cities
Doubling the number of Northern cities tobenefitfromthegovernment’s superfast broadband programme
8
INVESTMENTCASE
NORTHERN POWERHOUSEIn2014,theUKChancelloroftheExchequerGeorge Osborne announced plans to invest GBP7billionintobusiness,cultureandinfrastructureintheNorthofEngland.TheNorthern Powerhouse scheme will focus on thecitiesofLiverpool,Leeds,SheffieldandNewcastle,withManchesteratitsheart.
POPULATION GROWTHThe UK’s fastest growing city
TheCityofManchestersaw17.8%populationgrowthbetween2003and2013–morethandoublethenationalaverageoverthesameperiod.
GBP7 BILLIONfurther investment in the North
2011
490
510
530
550
570
2012 2013
Source: ONS, Crown copyright; Oxford Economics, copyright
Manchester City Population Growth Forecast (2012 Greater Manchester Forecasting Model)
Gro
wth
In t
hous
and
s
2014 2015 2016 2017 2018 2019 2020 2021
An urban population explosion
MANCHESTER EDUCATIONManchester has grown into a prestigious globalcentreforeducation,withover100,000students enrolled at the city’s four major universities.
Attracting international studentsInternationalstudentsattheUniversityofManchestermakeup23%ofthetotalstudent population
More and more overseas students are choosing to stay in the city after graduation
ChinesestudentnumbersinManchestergrew45%overthepastfiveyears
Investing in educationGBP500 million of forthcoming capital investment
Active Building Schools for the Future and Academies programmes
Rebuilding,refurbishingorreplacing33schools across Greater Manchester
Brain gainStudents are increasingly remaining in the city after graduation
The city is targeting investment in business sectors that create graduate opportunities
Morethan70%ofManchesterMetropolitanUniversitygraduatesstayintheNorthwestafter graduation
40%growthinManchester’s20-25year-olddemographic since 2001
INVESTMENTCASE
10
Manchester
SingaporeDubai
Hong Kong
GenevaNew York
Beijing
GLOBAL CONNECTIVITYLarge-scale investment has seen Manchester develop into a hub for global travel
NATIONAL CONNECTIVITY
INTEGRATED PUBLIC TRANSPORT
The GBP1 billion regeneration of Manchester Airport is set to deliverfivemillionsquarefeetofdevelopmentopportunitiesforoffices,hotels,advancedmanufacturingandlogisticsbusinesses,creatingsome16,000jobs.
FromJune2016,anewHainanAirlinesroutefromBeijingtoManchesterAirportwillbethefirstdirectconnectionfromChinatoaUKdestinationoutsideofLondon.TherouteisforecasttoprovideaGBP50millionboosttoManchester’seconomy.
TheGBP130million‘ChinaCluster’projectatManchesterwillprovideacommercialbaseforChinesebusinessesenteringtheUK.TheclusterwillbelocatedattheAirport’sproposedGBP800millionbusinesshub,AirportCity.
Excellent rail services have been a key factor drivingManchester’sprosperity,andareset to further improve with the arrival of thenewproposedHighSpeed2(HS2)andTransNorthroutesin2017and2019.
Most of Manchester’s population use the city’s excellent tram and bus network for both commuting and getting around intheirleisuretime.Thenetworkissocomprehensive,Manchester is ranked in the top ten cities in Europe for transportconnectivitybytheEuropeanCitiesMonitor.
WilburnWharfisclosetoDeansgate,akeyMetrolinkinterchangestation,throughwhichfiveofManchester’ssixmajortramlinespass.
- SirHowardBernstein,ManchesterCityCouncil
We’ve had to tailor the infrastructure to that which young people demand – they’re more interested in lifestylechoices, making choices about wherethey want to live as well as wherethey want to work.
Third-busiest national airport after Heathrow and Gatwick
Named Best UK Airport 2015 by the Globe Travel Awards
24% passenger growth since 2010
CITY ZONEMonsall
BURY
ABRAHAM MOSS
ShudehillALTRINCHAM
NewIslington
HoltTown
MarketStreet
CentralPark
QueensRoad
Deansgate-Castlefield
St Peter’sSquare
Trafford BarOldTrafford
Exchange Quay
Salford QuaysAnchorage
St Werburgh’sRoad
PiccadillyGardens
Stretford
MANCHESTERAIRPORT
EASTDIDSBURY
ROCHDALETOWNCENTRE
Firswood
Chorlton
Broadway
Langworthy
MEDIACITYUK
Cornbrook
LadywellECCLES
Weaste
Harbour City
Pomona
Victoria
PICCADILLY
ASHTON-UNDER-LYNE
P
PRochdaleRailwayStation
217P+R
P+R
100
302P+R
250P+R
No trams callat Victoria
Altrincham – Bury
Altrincham – Piccadilly
Bury – Abraham Moss
Eccles – Ashton-under-Lyne
Manchester Airport – Cornbrook
East Didsbury – Rochdale Town Centre
olink stop
Line interchange Rail interchange
Bus interchange Park + RideNumber of spaces available
Car ParkLimited spaces available
P+R
100
Cycle hubMembership required
P
MediaCityUK – Piccadilly
INVESTMENTCASE
12
Almost 100,000 tonnes of freight in 2013
A new direct route to Hong Kong was launched in December 2014
Pass through rate hit 22 million passengers in 2014
INVESTMENTCASE
Manchester has a strong history of successful regenerationactivity.Thislong-termprogrammeofregenerationcontinuestothisday.
WithGBP8.2billioninvestedinpropertyinthecityoverthepastdecade,ManchesterisrankedastheUK’snumberoneregionalcitybyCBRE.With the extensive infrastructure and public spaceinvestmentthathasgonealongsidethis,Manchestercontinuestobetransformed.
REGENERATION
ThesuccessofSpinningfieldshasinspiredfurthergrowthandregenerationincentralManchester.The neighbouring area of St John’s is now set for extensive redevelopment that will further transform thearea.Acreativevillagewillbeestablishedintheheartofthecity.
Strategically located at the Salford gateway to SpinningfieldsacrosstheRiverIrwell,MiddlewoodLockswilltransforma24-acrearea,creatinganewcentreforconnectivity,creativityandcultureintheheartofthecity.
Redevelopment of the former Granada Studios site
2.8millionsquarefeetofnewmixed-usespace
Willfeatureoffices,housing,eventsspace,revitalisedpublicrealm,riversideparks,hotels,artsvenues,independentshops,cafés,barsandrestaurants
Includes a GBP78 million government investment inTheFactoryManchester,auniquelyflexiblenewarts space
Intheearly2000s,workbegantocreateanewcentralbusinessdistrictforManchester.SincethenSpinningfieldshasemergedasoneofthecity’skeyemploymenthubs.ThecentreofManchester’sthrivingfinancialservicesindustry,Spinningfieldscontinuestogrowinbothsizeandinfluence.
Spinningfieldsaloneprovidesworkingspaceforover20,000employees
Recent years have seen the area develop further as a retail and leisure district
RevenuefromretailandleisureatSpinningfieldsincreased400%between2008and2014
Attractive modern waterside development centred around three canal basins
2,000newhomes,restaurants,apark,shops,agym,andahotel
500,000squarefeetofGradeAofficespace
SPINNINGFIELDSThe Canary Wharf of the North
MIDDLEWOOD LOCKS
ST JOHN’S
INVESTMENTCASE
St. John’s will turn the perceptions of city centre living on its head.
16
INVESTMENTCASE
The outlook for property investment across Manchesterisfundamentallystrong,andiswell-supported by local economic and population growthaswellassignificantincominginvestment.
LOCAL REAL ESTATE MARKET OUTLOOK
SUPPLYManchester’s housing market is primed for investment.Whiletheresidentialconstructionpipelineisgrowing,theeffectofyearsofundersupplywilltakemanyyearstoovercome.
With supply unlikely to catch up with demand for several decades,propertypriceswillcontinuetorisesignificantly,especiallyinthecitycentre.
500
Completed un-completed
Average
0
1,000
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
1,500
2,000
2,500
3,000
3,500
4,000
4,500
Manchester’s residential development pipelineManchesteraveragedjust4,500netcompletionsperannum between 2010 and 2015
Thisislessthanhalfthe9,654forecastasrequired,creatingacurrentannualshortfallofover5,000homes
Ontopofthis,thebacklogfromseveralyearsofundersupplyhasnowreachedover40,000homes,puttingfurther pressure on supply
AnticipatedCentralManchesterdeliveryin2016is2,175newunits,farbelowwhat’sneededdespitebeingunparalleledinanyotherUKregionalcity
Giventhecurrentpipeline,constructionisexpectedtofallwellshortofthetargetof55,000newhomesdeliveredby2027assetoutinthecity’sCoreStrategy
NET COMPLETIONS(2010-2015)
ANNUAL SHORTFALL
SHORT OF TARGETNEW UNITS IN 2016
4,500 5,000
55,0002,175
INVESTMENTCASE
20
1,132,800 1,155,100 1,178,900 1,203,100 1,226,500 1,249,300
2010 2011 2012
20132014
2015
DEMANDGreater Manchester’s expanding economy and growing populationwilldriveresidentialdemandoverthenextdecade.
GreaterManchester’spopulationisexpectedtogrowby128,000in the next 10 years
50,000newresidentsareforecastinthecitycentrealoneoverthesame period
110,000newjobstobecreatedinGreaterManchesterby2025
EmploymentgrowthinCentralManchesterwillseetheareasurpass400,000jobsoverthistime
Householdgrowthprojectedat6%overthenextfiveyears
Estimates put Manchester’s total new housing demand at around 10,000additionalhomesperannumoverthenextdecade
Healthy demographics
Workers are moving into higher wage brackets
A14,000decreaseinmanufacturingjobsanda31,200increaseinprofessional,scientificandtechnical services is forecast for the next decade
Disposableincomeisforecasttogrowby28%over the next decade
Housingdemandcontinuestosoar,drivenbyaninfluxofpeopleseekingabetterlifestyleandmorefortheirmoney.
In2015,theEconomistIntelligenceUnitagainnamedManchestertheUK’sbestcityinwhichtoliveas part of its annual Global Liveability Survey
Manchester is the seventh-cheapest place to live in theUK,despitebeingoneofitslargestcities
Household growth continues to soar
INVESTMENTCASE
22
SALES MARKET
0
200
1 beds 2 beds 3 beds
400
600
800
1000
1200
1400
Average price (Flats)
2012
2013
2014
2015
2016 Estimates
Average rental values in Manchester
Manchester apartment price growth
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50000
100000
150000
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250000
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RENTAL MARKETManchester’s robust and steadily growing sales market continuestoshowexcellentpriceandtransactiongrowth.
Manchester apartment pricesgrewby6%in the 12 months to December 2015
The average apartment in Manchester is just over a third of the price of a London apartment
Forecasts put price growthat20%overthe next three years
Apartment prices are 13.6%belowtheir pre-recession peak
20%
13.6%
6% Manchester has the highest average yields intheUK
Half of properties are let within only 5 days
50%
At28%,Manchester has a higher proportion of private renters than London (26%)
28%
63%ofcitycentrehouseholds are rented,whichis24%abovetheUKaverage
63%
Over a third of residents are young professionals,ahead of London (28%)andBirmingham (24.1%)
Over10%ofrenters are sharers,reflectingthe city’s young professional demographic
10%
1/3
6.02% 33.5%
INVESTMENTCASE
24
RIVERGATEHOUSE
Rivergate House at Wilburn Wharf is a stunning newdevelopmentthatwillredefinetheemergingresidential and commercial zone along the city centre stretchofManchester’sRiverIrwell.
This new-build waterfront residence is set to deliver someofthefirsthigh-qualityhomesinthisgrowingnewneighbourhood,andrepresentsexcellentinvestment value in the heart of this thriving twenty-firstcenturycity.
RIVERGATE HOUSE
/ Four-block development around the historic Wilburn Street Basin
/ Range of spacious and stylish 1/2/3-bedroom apartments
/Carparkingavailableformanyunits
/Conciergeforresidentsonsite
/2,464squarefeetofgroundfloorcommercial space for retail amenities
/Phase1completionSeptember2016
/Upto75%LTVfinancingavailable
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RIVERGATEHOUSE
28
15 mins
A 57
A6
A62
A6
UPPER B
ROO
K ST
A56
RT
FA
OF
D
RR
D
A57
A60 42
3
PR
INC
ESS
RD
Piccadilly
Victoria
SalfordCentral
Oxford RoadDeansgate
SalfordCrescent
M602
SALFORD
SALFORDQUAY
MediaCityUK
RIVERGATEHOUSE
Regents Park
Old Trafford
ManchesterAquatics Centre
ManchesterUniversity
Castlefield
University of Salford
Spinningfields
China Town
Hilton
Central Shopping District
NorthernQuarter
Manchester Arena
To ManchesterAirport
MANCHESTER
10 mins
Railway
Railway station
Metrolink
Metrolink stop
10 minute walk radius
15 minute walk radius
30
RIVERGATEHOUSE
30
LIVING/DINING
Images shown are indicative artist’s impressions and for representation purposes only
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RIVERGATEHOUSE
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LIVING/DINING
Images shown are indicative artist’s impressions and for representation purposes only
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RIVERGATEHOUSE
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A16.03A16.07
BEDROOMANDBATHROOM
Images shown are indicative artist’s impressions and for representation purposes only
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STEP UPENTRANCE LOBBY
POSTBOXES
TANK ROOMBIN STORE
CAR PARKING
FIRE FIGHTINGSHAFT
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FIRE FIGHTINGSHAFT
VOID TOENTRANCE
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1 bed 2 bed 3 bed
381 bed 2 bed 3 bed
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401 bed 2 bed 3 bed
A12.01
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421 bed 2 bed 3 bed
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Internal finishesWalnut veneer apartment entrance and internal doors
Chromeironmongery
Satinwoodfinishtointernalskirtingsandarchitraves
White emulsion to walls with feature wall in living areas and bedrooms
FlooringWalnut laminate to hallways and living areas
Carpetstobedrooms
Tiling to bathrooms and en-suites
Carpettoupperlevellivingareasandstairsinduplexpenthouses
KitchensPorcelanosafittedkitchensinarangeoffinishes
Handleless door and drawer fronts
Square-edgedworksurfaceswithmatching,full-heightsplash-backs
Integratedelectricoven,ceramichobandconcealedhood
Integrated fridge-freezer and automatic dishwasher
Stainless steel 11/2 bowl sink unit with Hansgrohe mixer tap
Underunitlighting
Bathrooms and en-suitesVilleroyandBochsanitarywarewithconcealedcisternWCs
Kaldeweisteelbaths
Hansgrohe brassware
Rainhead shower to en-suites
Glazed shower screens
Tiled walls incorporating feature wall
Full height/width mirror above vanity shelves
Electrical and communicationLEDdownlightstohallways,livingareas,bathroomsanden-suites
Pendantlightfittingstobedrooms
ProvisionforBT,SkyHDandVirginMediatolivingareasandbed-rooms(notBT)
DedicatedHyperoptic,fibre-opticinternetprovision
Brushed nickel sockets and switches
HeatingAdax Neo slim-line electric panel heaters with central timer
Chrometowelrailstobathroomsanden-suites
Safety and securitySecure residents’ entrances
Automated door entry system
Smoke detectors to kitchens and entrance halls
Sprinkler system
Conciergefacilities24/7
ExternalDouble glazed windows
Doubleglazeddoorstoprivateroofterraces(Penthousesonly)
Allocatedcarparkingspaces(optional)
1 bed 2 bed 3 bed
A18.01
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FIRE FIGHTINGSHAFT
20/F
SubjecttovariationsinaccordancewiththeContractTerms.SeeIdentificationPlancontainedintheDisclosureDocumentsforarea(s).Thedevelopmentisnotcompletedandduetoavarietyofcircumstances,somefinishesandinclusionsmaynotbeofferedinsomeunits.Subjecttoprecisetermsofcontractandassociateddocumentation,finishesandinclusionssubjecttochangewithoutnotice.
For further information please contact Colordarcy Investment
Telephone: +44 (0) 207 100 2393
Email: [email protected]
HEAD OFFICE
Colordarcy Investment Ltd,
30th Floor, 40 Bank Street, Canary Wharf,
London, E14 5NR, United Kingdom
Website: www.colordarcy.com
THE LEGAL STUFF
The material contained within this document has been prepared for information purposes only. Information contained herein is not to be relied upon as a basis of any contract or commitment.he
The information is not to be construed as an offer, invitation or solicitation to invest and opinions expressed are subject to change without prior notice. Information contained herein is believed to be correct, but cannot be guaranteed.ch
In case of queries or doubt you should consult an independent investment adviser. No personal recommendation is being made to you and the past is not necessarily a guide to the future.
All images used are for illustrative purposes only.
RIVERGATE HOUSE
AT WILBURN WHARF