Citysuites brochure miras

All quotes and statistics used in this document are taken from third-party reports in the public domain and are listed below. Should further information be required please contact Select Property Group and we shall endeavour to provide you with the appropriate report

i

ii

vi

LSL Buy-to-Let Index September 2014

vii Knight Frank – the Rental Revolution

http://content.knightfrank.com/research/587 /documents/en/2014-1726.pdf

http://www.lslps.co.uk/documents/buy_to_let _index_sep14.pdf iii

English Housing Survey 2012-2013

http://pdf.euro.savills.co.uk/residential---oth er/12-cities-h2-2014.pdf ix

Nationwide House Price Index Q4 2013 http://www.nationwide.co.uk/~/media/MainSi te/documents/about/house-price-index/q4-2 013.pdf

What Tenants Really Want http://pdf.euro.savills.co.uk/residential---other /yougov-survey.pdf

What Tenants Really Want http://pdf.euro.savills.co.uk/residential---othe r/yougov-survey.pdf

v

http://content.knightfrank.com/research/587 /documents/en/2014-1726.pdf viii 12 Cities

https://www.gov.uk/government/uploads/syst em/uploads/attachment_data/file/284648/En glish_Housing_Survey_Headline_Report_2012 -13.pdf iv

Knight Frank – the Rental Revolution

Knight Frank global house price index Q2 2014 http://content.knightfrank.com/research/84/d ocuments/en/q2-2014-2331.pdf

x

What Tenants Really Want http://pdf.euro.savills.co.uk/residential---other /yougov-survey.pdf

If you would like to discuss whether this investment is suitable for you, please contact our team on +44 (0) 207 123 4000.

Select Property Group The Box, Horseshoe Lane Alderley Edge, Cheshire SK9 7QP United Kingdom

Contact T +44 (0) 207 123 4000 F +44 (0) 161 332 7718 E info@selectproperty.com

selectproperty.com Offices in Manchester, London, Dubai, Singapore and Toronto

Information in this document has been produced with great care and is believed to be accurate at the time of distribution. This is intended to be a summary of CitySuites products and services only and should be read in conjunction with other information we have made available for further consideration. Some details about specific CitySuites developments may be subject to change from time to time in accordance with final designs and approvals. We endeavour to ensure that any statistics, forecasts and market opinions are accurate and well researched however we do not warrant the accuracy of this information and should therefore not be assumed to be liable for any reliance you may make on it.

L I VE I N S TY L E

CitySuites | Live in style

CitySuites | Live in style

CITYSUITES

Aligning a residential property offering with the needs of an under-served end user, CitySuites is a flagship private rented sector brand. Its unique approach is capable of driving desirability and loyalty, ultimately aspiring to higher occupancy than other city centre development.

CitySuites addresses the undersupply of high-quality accommodation in prime city centre locations.

There is a clear market of city centre tenants that has previously been dispersed across non descript residential blocks, hotels and serviced apartments – all of which hold a limited appeal, but require some level of compromise on the part of the resident. This newly recognised market incorporates the £140 billion transient business accommodation industry and longer term urban tenants in search of luxury and convenience.

Careful consideration of this end user lifestyle enables CitySuites to deliver a combination of compelling lifestyle factors to the city centre residential market for the first time.

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A Select Property Group Brand

THERE IS AN OPPORTUNITY FOR DEVELOPERS TO CREATE A BRAND IN THE PRIVATE RENTED SECTOR, SO THAT TENANTS RECOGNISE THAT THE UNITS WILL ALWAYS BE OF THE HIGHEST STANDARD, AS WILL THE MANAGEMENT OF THE BLOCK KNIGHT FRANK, THE RENTAL REVOLUTION

A Select Property Group Brand

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CitySuites | Live in style

CitySuites | Live in style

KEY DRIVERS OF OCCUPANCY – WHY CITYSUITES WILL BE THE MOST DESIRABLE ADDRESS IN MANCHESTER

4

A LOCATION IN DEMAND

FULLY EQUIPPED

A CHOICE OF TENURE

SPACIOUS ROOMS

CitySuites’ prime location provides the foundation of its appeal, it is a celebrated address with neighbours that include Harvey Nicholls, Louis Vuitton, Selfridges and over 7,000 other businesses.

CitySuites offers recognisable reliability with high-quality, sought-after goods from the likes of Smeg, Vitra, Vado and Samsung, including 40-inch 4K TVs and cutting edge-appliances.

A unique ability to rent for one-month, three-month and a year appeals to city centre residents and is not available in the UK residential market, despite its proven track record in the US.

CitySuites properties are luxurious, large self-contained city centre homes offering more space than hotels to cook, relax and entertain.

55% of residents state a home close to work is the most important consideration – Knight Frank Tenant Survey 2014

In the areas around CitySuites Manchester, there is a 32% premium associated with furnished apartments – Countrywide Monthly Lettings Index

LUXURY LIVING

PLUG AND PLAY

Few city centre residences boast the luxury of their own gym, pool and Jacuzzi, so CitySuites places great emphasis on these and offers them to residents at no additional cost.

All apartments have utilities, Wi-Fi and Sky TV already connected and CitySuites makes it easy to budget with no addition charges or fees.

Pools and gyms are the top two value drivers among mid to high-income tenants – Savills, What Tenants Really Want

There is strong demand for amenity-driven services in the £40,000 to £80,000 income bracket – Savills, What Tenants Really Want

A Select Property Group Brand

In the specialised US corporate housing market, rents total $2.9 billion annually and most tenants choose to stay for monthly (19%) and three-month (34%) periods – Corporate Housing 2013 Annual Report

Mid- to high-income tenants are more likely to pay additional rent to have a larger property – Savills, What Tenants Really Want

CONCIERGE AND MANAGEMENT SERVICES Every day, CitySuites residents are welcomed home to a friendly community, familiar smile and their own homely comforts.

Poor management directly led to a quarter of the tenants leaving their last rental property, with many feeling it was hard to reach their landlord – Savills, What Tenants Really Want

It is this unique combination that distinguishes CitySuites as the most desirable address in Manchester and fills a clear void in the region’s proven city centre tenant market, providing strong foundations for high levels of occupancy.

A Select Property Group Brand

5

CitySuites | Live in style

CitySuites | Live in style

UK RESIDENTIAL PROPERTY

CLASSIC SURETY

Hundreds and thousands of property purchasers believe the UK’s residential market is an assured long-term asset, as sustained demand from buyers and tenants provides a strong platform for growth.

The UK is home to the world’s fifth highest performing property marketi and the average monthly rental payment is at a record high across England and Walesii.

Economic factors suggest the potential for growth will continue. The UK population has increased by five million since 2001, easily outpacing the supply of new homes. There is a structural undersupply of accommodation and consequently the UK’s private rented sector (PRS) has expanded from 2.4 million dwellings to 4.0 million – a rise of 73.9%iii.

While rising property values have presented a barrier to home ownership, there is also a more fundamental shift underway in the PRS: a quarter of all current tenants and 30% of more affluent renters now actively seek the flexibility rental accommodation providesiv.

This predisposition to transient tenure in a growing PRS is reshaping the traditional market and unveiling new opportunities.

4 million The number of private rented sector (PRS) dwellings currently in the UK market - a rise of 73.9%

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A Select Property Group Brand

A Select Property Group Brand

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CitySuites | Live in style

CitySuites | Live in style

MARKET OPPORTUNITY

CAREFULLY SELECTED

Amid record hotel occupancy levels, a rise in demand for serviced apartments, and an increasing crop of rigid and nondescript apartment blocks, the needs of the affluent and influential modern executive tenant have been discarded.

The demand for flexible tenancy is most evident in the beating heart of the city.

Both the demand for, and the subsequent performance of, existing city centre stock is fuelled by the £140 billion global business accommodation market and an increasingly transient workforce. However, without a recognisable and dedicated product the lucrative market is dispersed, scattered across the three existing city centre accommodation provisions – hotels, serviced apartments and residential blocks – all of which fail to fully align with the needs of modern professionals.

Serviced apartments fail to provide desirable locations and easily accessible booking capabilities. Residential schemes fail to offer corporate travel managers a practical alternative to block-booking 12-month tenancies. Expensive hotels fail to deliver the homely comforts that the month-long tenant market desires.

THE MAIN BARRIER TO INVESTORS IN THIS SECTOR IS THE LACK OF LARGE-SCALE PURPOSE-BUILT RENTAL STOCK AND OPERATIONAL PLATFORMS TO RUN THEM, NOT DEMAND. SAVILLS, WHAT DO TENANTS REALLY WANT? SPRING 2014

Therefore CitySuites utilises the expertise of Select Property Group to tailor residential property to serve a newly identified, but growing niche market within the prime city centre sector.

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A Select Property Group Brand

A Select Property Group Brand

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CitySuites | Live in style

CitySuites | Live in style

MANCHESTER

COMMERCIAL STRENGTH

With the London market reaching a ceiling, institutional buyers have already shifted their focus to regional UK property with an increased emphasis on income yieldsvi.

A brand tailored to executive tenants will be welcomed in a city with growing corporate and tourism sectors, maximising occupancy in what is already one of the UK’s strongest property markets.

Manchester is the model city in which to launch CitySuites.

Primarily, it is one of the UK’s highest performing property markets. Figuresv from the end of 2013 show Manchester’s residential property generated capital growth of 21%, almost 1.5 times higher than London’s stock and three times the UK average of 7.1%.

STEPHEN HOGG, HEAD OF RESIDENTIAL AT JONES LANG LASALLE, SUCCINCTLY SUMMARISED MANCHESTER’S GROWTH POTENTIAL, STATING BUYERS CURRENTLY RECEIVING 4% GROSS YIELDS IN LONDON WILL GAIN NEARLY DOUBLE THAT IN MANCHESTER AND THE CITY HAS NOT EVEN STARTED ITS MAJOR CAPITAL GROWTH CURVE YET.

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A Select Property Group Brand

Across the prime UK markets of London, Birmingham, Manchester, Bristol, Leeds and Glasgow rental yields increased by 2.9%vii last year. The smallest rental increase was recorded in central London, 0.4%, while Manchester property offered yield growth of 5.27% – a pace 13 times faster than the capital.

Much of this rental demand is instigated by corporate location and relocationviii and with 50% of private tenants working within the financial and services sector, Manchester’s status as the primary tertiary employment hub outside of the south east shows the demand for a CitySuites offering in the city.

It’s a demand set to grow in the future.

Already the second largest major urban area in the UK, Manchester City Council hopes to attract a further 80,000 people to live in the city by 2027.

Residential capital growth in the UK: City

Annual capital growth

Manchester

21%

London

13%

Brighton

12%

Leicester

11%

Birmingham

10%

A Select Property Group Brand

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CitySuites | Live in style

CitySuites | Live in style

GREENGATE

CENTRALLY SITUATED Greengate master plan CGI

Located on the border of the exclusive cathedral-view Greengate development, CitySuites tenants only need to open their front door to experience the excitement of Manchester. It is a site selected for its unique ability to enhance customers’ lifestyles and provide investors with a prime residential asset in a new high-profile city centre development.

It is set to generate £400 million of private investment and create 5,200 jobs.

Anyone who calls CitySuites home will have exclusive access to a vibrant new neighbourhood in the heart of a regional centre that features workplaces, retail outlets, a 500-vehicle car park, and leisure facilities, while paying homage to Manchester’s illustrious and indomitable roots.

Central to the appeal of CitySuites is a central location – a site capable of fulfilling the needs of the end user.

Close enough to feel the vibrancy, but private enough to shut out the city lights, Greengate is the prime urban development in the north-west. The scheme joins the historical twin city centres of Manchester and Salford and encompasses a 13-hectare space just a few minutes’ walk from Manchester Cathedral.

The £13.3 million Greengate Square plays host to public events, concerts and markets within its iconic amphitheatre, while Greengate Park – the area’s largest proposed open space – provides a natural retreat from the pace of the city centre.

All of this redevelopment is in line with the area’s historic significance and heritage assets, including its distinctive railway architecture and listed buildings.

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A Select Property Group Brand

A Select Property Group Brand

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CitySuites | Live in style

CitySuites | Live in style

GREENGATE OVERVIEW VICTORIA STATION

NS

2 AR

ARNDALE CENTRE

SL EY O

ST RT LA N D

T

M

SS

ER

ES

FAIRFIEL D ST

ST TH OR

RD FO OX AD RO

K LOC HED

1

ST

8 AIRPORT CITY 10.5 MILES FROM CITY CENTRE

First Street OW Greengate NIN

3

Salford Central

4

Sportcity

5

Spinningfields

ST

D OA

BBC MEDIA CITY 3 MILES FROM CITY CENTRE

1 2

K OO BR

DR OR

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A Select Property Group Brand

ER

F OX

NIAN W AY

P UP

MANCU

14

PICCADILLY STATION

D

NC

W

ROA

I PR

LO

PO

ST

ITW WH

WHITWORTH ST

AD RO

SS

ST RD FO OX

MANCHESTER CENTRAL

CE

ST

R ST

R TE ES CH

SPORTCITY 2.5 MILES FROM CITY CENTRE

PICCADILLY GARDENS

N DO LON

PETE

POO L RO AD

4

ST

DA LE

PR IN

QUA Y ST

LIVE R

ST

ST

T

5

AN CO AT S

T EE STR Y IL D

T

9

A CC PI

LS EL W IR

BAIL EY S

G RE AT

AD RO

EY

NEW

RKE T

CR OS

SALFORD CENTRAL

MA

SS

T

ST. ANN’S SQUARE DEA NSG ATE

3

OL

ST

CHAPEL ST

M

A DH

ST

PEL

CHA

SR D

6 RS T

HIGH

AC KF RI

CO RPO RA TIO

BL

MI LL E

T

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M O SL

I

IN

TR

TY

D

GS

6

NOMA

7

MediaCity UK

8

Airport City

9

Manchester Life

T

A Select Property Group Brand

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CitySuites | Live in style

CitySuites | Live in style

CITYSUITES MANCHESTER

CLASS & STATUS

Building on the foundations of Manchester and Greengate is CitySuites Manchester – a development designed to maximise all the advantages of city centre living.

From the historic Cathedral Approach – the primary access route to Greengate – everybody will see a striking 17-storey glass residence. It possesses 260 apartments and the kind of high-end features seldom seen in residential blocks or even city centre hotels.

Outside the triple-height glazed entrance residents will find the Embankment – a pedestrianised area offering outdoor dining and views of the local waterways. The noise and excitement of the city quickly gives way to calm familiarity as the dedicated concierge service welcomes tenants home for the evening.

Inside, and in keeping with a desire to deliver a pioneering brand, CitySuites features several high-end facilities for residents to enjoy at their leisure. People can choose to let off steam in the spa bath, start the morning with a full workout in the on-site gym, swim a few lengths of CitySuites’ tranquil pool or enjoy a meal in the ground-floor restaurant.

CitySuites Manchester is exquisitely designed

by Flanagan Lawrence to be an important new landmark on the city’s skyline.

Great architecture dictates that structures echo and respond to their surroundings and the CitySuites building is a fine example, brilliantly tapered to reach out into the heart of Manchester and offer views across Greengate’s fountains to the 135ft spire of the gothic cathedral.

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A Select Property Group Brand

A Select Property Group Brand

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CitySuites | Live in style

CitySuites | Live in style

HOME COMFORT, HOTEL STYLE

COMFORT & STYLE

Anyone staying at CitySuites, whether they live there for a month or a year will have all the comforts of home combined with the luxuries of a hotel because in addition to the first-class communal facilities, CitySuites also sets new standards in city centre living.

Each studio, one-bed and two-bed apartment offers living spaces that are far more expansive and luxurious than city centre averages. Starting from ÂŁ169,265, purchasers will find properties come fully furnished with high-end luxury fittings and fixtures.

Crucially and unlike even the most opulent hotels, CitySuites allows residents to retain their independence, providing the comfort, privacy and freedom that is needed for people to relax in style. Whether it is a home-cooked three course meal for two or a night with friends watching sport or the latest box set, CitySuites truly delivers a notion of home.

All residents can enjoy complete kitchen facilities and a full cooking experience, access to Sky’s range of subscription TV channels, and comprehensive cleaning services.

FITTINGS INCLUDE

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A Select Property Group Brand

A Select Property Group Brand

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CitySuites | Live in style

CitySuites | Live in style

CITY SUITES A

20

STUDIO 34 SqM / 361 SqFt

A Select Property Group Brand

B

ONE BEDROOM 45 SqM / 487 SqFt

C

TWO BEDROOM 66.5 SqM / 716 SqFt

A Select Property Group Brand

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CitySuites | Live in style

CitySuites | Live in style

UK RESIDENTIAL PROPERTY PAYMENT PLAN MANCHESTER

COSTS & SERVICES

Based on a studio starting at £169,265 Only £55,700 to pay this year.

1 2

CITYSUITES MANCHESTER INCLUDES STUDIO, ONE-BEDROOM AND TWO-BEDROOM APARTMENTS. PURCHASERS WILL FIND THAT BUYING ANY OF THE PROPERTIES IS A SIMPLE AND STRAIGHTFORWARD PROCESS. 22

A Select Property Group Brand

3 4 5 6 *Estimated fees

Starting Prices - Studios from £169,265 - One-bedroom apartments from £199,668 - Two-bedroom apartments from £329,360

Additional purchase fees*

£5,000 to reserve property

Pay

£25,350 on exchange of contracts – 30 days after reservation

Pay

£25,350 in October 2015

PAY NOTHING ELSE UNTIL NEXT YEAR

Pay

£25,300 in March 2016

Pay balance on completion in November 2016

- £495 administration fee - £425 + VAT solicitor fee, depending on - choice of solicitor - £90 engrossment fee - Approximately £100-£200 Land Search fee - with the solicitors - Stamp duty. Current UK stamp duty rates are - 1% for properties worth between £125,001 – - £250,000 and 3% for properties worth - between £250,001 – £500,000.

Service Charges Annual service charges are needed to maintain the highest standard of quality across all properties within CitySuites Manchester.

STANDARD SERVICE

ADDITIONAL SERVICE COSTS

Includes service charge, council tax, ground rent and insurance

Includes utilities, internet, IT and communications, Sky TV and weekly cleaning

CitySuites properties can also be purchased as part of a collective investment scheme. In accordance with FCA rules only high-net worth and sophisticated investors can be offered information relating to this investment opportunity. If you would like to discuss whether this investment is suitable for you, please contact our team on +44 (0) 207 123 4000.

A Select Property Group Brand

23

CitySuites | Live in style

COMPLETE SOLUTION

CitySuites | Live in style

A handpicked management team will attend to CitySuites Manchester residents. This full service removes the traditional time and resource demands associated with the residential market.

Traditional buyers purchasing residential blocks in the city can face a host of problems.

Without specific knowledge of a location or market, the risks of void periods can be high.

Even if an owner pays an agent to let their property, there is no assurance of longevity – nearly half of tenants state they left their last home in search of better quality.

The customer insight that has informed and inspired the brand is utilised by the dedicated team of hospitality professionals to let and manage the properties.

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A Select Property Group Brand

This ongoing attention to detail will maintain CitySuites’ status as one of the most desirable addresses in Manchester, and allow the service to continually evolve to reflect the changing requirements of the customer.

Ultimately, all the expertise that has identified a market opportunity and furnished an ideal building in a perfect location to appeal to this under-served segment is inherently presented to CitySuites buyers free from the time and resource demands associated with any management obligations.

A Select Property Group Brand

25

All quotes and statistics used in this document are taken from third-party reports in the public domain and are listed below. Should further information be required please contact Select Property Group and we shall endeavour to provide you with the appropriate report

i

ii

vi

LSL Buy-to-Let Index September 2014

vii Knight Frank – the Rental Revolution

http://content.knightfrank.com/research/587 /documents/en/2014-1726.pdf

http://www.lslps.co.uk/documents/buy_to_let _index_sep14.pdf iii

English Housing Survey 2012-2013

http://pdf.euro.savills.co.uk/residential---oth er/12-cities-h2-2014.pdf ix

Nationwide House Price Index Q4 2013 http://www.nationwide.co.uk/~/media/MainSi te/documents/about/house-price-index/q4-2 013.pdf

What Tenants Really Want http://pdf.euro.savills.co.uk/residential---other /yougov-survey.pdf

What Tenants Really Want http://pdf.euro.savills.co.uk/residential---othe r/yougov-survey.pdf

v

http://content.knightfrank.com/research/587 /documents/en/2014-1726.pdf viii 12 Cities

https://www.gov.uk/government/uploads/syst em/uploads/attachment_data/file/284648/En glish_Housing_Survey_Headline_Report_2012 -13.pdf iv

Knight Frank – the Rental Revolution

Knight Frank global house price index Q2 2014 http://content.knightfrank.com/research/84/d ocuments/en/q2-2014-2331.pdf

x

What Tenants Really Want http://pdf.euro.savills.co.uk/residential---other /yougov-survey.pdf

If you would like to discuss whether this investment is suitable for you, please contact our team on +44 (0) 207 123 4000.

Select Property Group Box, Horseshoe Lane + 994 50 522 00The99 Alderley Edge, Cheshire SK9 7QP United Kingdom

Contact T +44 (0) 207 123 4000 F +44 (0) 161 332 7718 E info@selectproperty.com

mirasproperty@gmail.com selectproperty.com Offices in Manchester, London, Dubai, Singapore and Toronto

Information in this document has been produced with great care and is believed to be accurate at the time of distribution. This is intended to be a summary of CitySuites products and services only and should be read in conjunction with other information we have made available for further consideration. Some details about specific CitySuites developments may be subject to change from time to time in accordance with final designs and approvals. We endeavour to ensure that any statistics, forecasts and market opinions are accurate and well researched however we do not warrant the accuracy of this information and should therefore not be assumed to be liable for any reliance you may make on it.

L I VE I N S TY L E