MARINERS W HARF
bridging the gap between manchester and salford
J U S T A 2 5 % D E P O S I T, F R O M AS LITTLE AS £37,311 DOWN
One Of The Last True Salford Quays Opportunities Mariners Wharf is the new development from Fortis Developments in Greater Manchester, close to both Manchester and Salford city centres. Comprising of just 158 apartments spread over twenty storeys, the development is a premium opportunity for investors looking for their next property. The one bedroom, two bedroom and three bedroom residential apartments at Mariners Wharf are sure to prove popular in Salford Quays which is suffering from an ongoing shortage of high quality rental accommodation. Each apartment will be completed with contemporary fixtures and fittings which will raise the bar when it comes to modern living in this busy location. Many of the elevated apartments will overlook Salford Quays and Manchester, providing the sort of views which are in high demand.
Mariners Wharf is the perfect home for people looking to live close to both Manchester city centre and the picturesque Salford Quays waterfront, which includes MediaCityUK. Both are only a short distance from the development, as are all of the restaurants, shops, bars and public transport options that anyone could ask for. When on-site amenities are taken into account – such as residents roof garden, private gymnasium, secure cycle storage, and parking on selected units including electric charging points – it is clear that Mariners Wharf is an outstanding opportunity for investors.
Apartments like these don’t become available very often, so make sure n o t t o m i s s o u t.
WELCOME TO A BILLION POUND PROPERTY BOOM: MANCHESTER
WHY INVEST IN GREATER MANCHESTER? Manchester continues to outperform the national average in terms of rental yields, n e a r ly d o u b l i n g t h at o f L o n d o n . M o r e a f f o r d a b l e p r o p e r t y, a n d consistent tenant demand, means lower capital entry and high m o n t h ly r e n ta l c o s t s – a w i n - w i n for investors. 2 0 2 1 i s a n i d e a l t i m e t o i n v e s t, the city is forecasted to have both the highest sales price (17.1%) & rental growth (16.5%) of any UK city over the next five years. There is no doubt that the UK property market is going from strength to strength. The number of people renting in the UK is at a modern day high, particularly in key Northern cities like Salford and Manchester where a combination of progressive local culture, a growing population, and a strong business community
have resulted in the perfect environment for property investment. Developments like Mariners Wharf which sit on the border of these two cities are perfectly located to take advantage of everything on offer in one of the UK’s most exciting areas. Buy-tolet property investment continues to look ever more attractive to investors looking to put their money into one of the most historically reliable asset classes, bricks and mortar.
P E R F E C T LY P L A C E D B E T W E E N MANCHESTER AND SALFORD AWARD-WINNING DEVELOPER WITH AN EXCELLENT TRACK RECORD
Priced 10% Below Local Comparables
SALFORD & THE QUAYS S a l f o r d i s a c i t y t h at i s q u i c k ly establishing itself as one of the fastest growing in the UK thanks to its status as a vibrant home for business, r e c r e at i o n a n d c u lt u r e . With a population that is forecast to grow 10% by 2020, Salford is a city that is going through big changes. As a result of its growing popularity there are huge levels of investment planned for the area, with improvements to local infrastructure being undertaken to cater for the many people wishing to call Salford their home. Dubbed ‘the start-up city’, Salford is home to the iconic MediaCityUK development which has drawn in broadcasting giants to the area, including ITV and the BBC. With more and more businesses looking to use Salford as a base, in the last five years the total number of businesses in the city has increased by 20% and the economy has grown by 15%. The number of media companies calling MediaCityUK home is only set to grow, with plans to expand the business hub by 455% over the
next decade. Holding the accolade of the best business start-up city in the UK (outranking London) there is no doubting Salford’s economic strength and it is no surprise that so many young people are eager to move to the area. However, Salford isn’t all about business and the city boasts numerous recreation and leisure facilities. Home to renowned facilities like the Lowry Theatre, the Imperial War Museum North and more, there is always something to do. Now second only to the eighbouring city of Manchester in the region, Salford is expected to rival the UK’s second city in the years to come, with economic growth of a further 86% expected as well as the creation of a further 24,000 jobs in the next ten years. There really has never been a better time to invest in Salford as economic growth and a rapidly increasing population continue to drive up property prices, yields and rental demand.
Salford, with an average house price of £173,311 and average rent prices of £1,052 per month, is the most profitable buy-to-let city for landlords CIA Landlord, 2020
Salford homes spend an av e r a g e o f 2 7 d ays o n t h e market before being sold Zoopla’s Fastest Selling Homes, 2021
GREATER MANCHESTER & THE NORTHERN POWERHOUSE Greater Manchester is a thriving region in the North of England and the UK’s property investment h o t s p o t. I n r e c e n t y e a r s i t h a s gone from strength to strength, with huge regeneration schemes powering rapid economic growth. With the support of the government’s Northern Powerhouse scheme, many parts of Greater Manchester have undergone significant change and have an interesting future ahead of them. The Northern Powerhouse initiative was spearheaded by the former Chancellor of the Exchequer, George Osborne, with the aim of rebalancing the economy away from London and giving the Northern regions a boost. As key players in the government scheme,
Manchester and Salford have grown impressively and begun to compete with London as top locations in the UK for investors. Greater Manchester now contributes approximately £56bn GVA to the economy annually and this is predicted to rise 2.8% each year until 2024. Economic growth in Greater Manchester is driving the buy-tolet market which is good news for investors. It has led to the housing boom in the region today, with Salford and Manchester becoming some of the most popular places to relocate to in the UK. Today, there are thousands of young people moving to the Greater Manchester region for the excellent employment opportunities and high-quality lifestyle on offer.
A6
UNIVERSITY OF SALFORD
Manchester Victoria
LOCATION
Trinity Way Shudehill Exchange Square NORTHERN QUARTER
Langworthy
MANCHESTER CITY CENTRE
M602
Market Street PICCADILLY Piccadilly Gardens
Trafford Rd
CHINA TOWN CASTLEFIELD St Peter’s Square
Broadway Anchorage
MEDIA CITY UK
Deansgate-Castlefield
Mariners Wharf
Harbour City
Manchester Piccadilly
Mariners Wharf enjoys an ideal position in Salford Quays overlooking the Quays, as well as being only a short journey from Manchester city centre and MediaCityUK. Residents will be within walking distance of some of the best recreation and leisure destinations in both cities.
MediaCityUK Chester Rd
Salford Quays
SALFORD QUAYS
A57 (M)
Greater Manchester Cornbrook Exchange Quay Princess Rd
A5081
UNIVERSITY OF MANCHESTER
Pomona OLD TRAFFORD FOOTBALL STADIUM
Salford Trafford Bar
A56
Manchester
64 – 1 BEDROOM APARTMENTS 81 – 2 BEDROOM APARTMENTS 13 – 3 BEDROOM APARTMENTS
Private Roof Garden Private Gymnasium Bike store / Parking
*All plans are based on concepts provided by the developer, are indicative only and are subject to change.
1 bed:unit 01 (58.3 sq.m / 627 sq.ft)
2 bed:unit 04 (69.6 sq.m / 749 sq.ft)
3 bed:unit 05 (98.6 sq.m / 1,060 sq.ft)
J U S T A 2 5 % D E P O S I T, F R O M AS LITTLE AS £37,311 DOWN
LOW MONEY DOWN Once you’ve selected your unit(s) with the help of your relationship manager, please complete the reservation agreement and return it with a copy of your passport. At this time you also need to pay a reservation deposit of £6000 by transfer, debit or credit card.
The easy steps to ownership in M A R I N E R S W H A R F. . . OPTION ONE: 1. £6000 Reservation Deposit (includes £1,000 Admin & Handling)
2. 25% Upon Exchange of Contracts (less £5000 paid on reservation)
3. 75% Balance Upon Practical Completion OPTION TWO: FREE FURNITURE 1. £6000 Reservation Deposit (includes £1,000 Admin & Handling)
2. 25% Upon Exchange of Contracts (less £5000 paid on reservation)
3. 10% STAGE PAYMENT Once your relationship manager has received your paperwork and deposit, our client care team will assist you through exchange and completion. You will need to instruct a solicitor. Your solicitor will advise you of the paperwork required from you – please return this promptly so the process moves as quickly as possible.
4. 65% BALANCE UPON PRACTICAL COMPLETION
CHERRY PICK THE BEST UNITS
Manchester’s property prices keep moving on up Financial Times, 2021
CONNECTIVITY IN GREATER MANCHESTER Greater Manchester is one of the most well-connected places in the UK, with residents able to access other areas of the r e g i o n e a s i ly v i a t h e M e t r o l i n k tram network and regular bus services which run throughout t h e d ay. M a n c h e s t e r P i c c a d i l ly and Manchester Victoria are two major train stations in Manchester which provide direct access to many key cities in the c o u n t r y.
a massive transformation in a £1bn project which will see the addition of the ‘Super Terminal’.
The announcement of HS2 is another huge boost to Manchester’s economy and will significantly reduce the journey time between Manchester and other key cities such as Birmingham and London. As the UK’s global gateway from the North, Manchester Airport has over 200 direct flights to destinations worldwide and handles around 22 million passengers every year. The airport is currently undergoing
MANCHESTER AIRPORT
HS2 RAILWAY NETWORK It is estimated that there will be total fare revenues of up to £34bn over 60 years – BBC, 2017 JOURNEY TIME WITH HS2: LONDON: 1 hr 8 mins BIRMINGHAM: 41 mins
Manchester Airport is one of the largest employers in the North West with over 25,000 people employed on site. – Manchester Airport, 2019 DIRECT FLIGHTS FROM MANCHESTER AIRPORT AMSTERDAM: 1 hr 20 mins PARIS: 1 HR 25 mins
FREQUENTLY ASKED QUESTIONS WHEN IS THE COMPLETION DATE? Q1 2024 WHEN WILL CONSTRUCTION START? Q1 2022 WHAT IS THE PAYMENT PLAN? Just 25% on exchange of contracts, with the balance due on completion. CAN I GET A DISCOUNT? Yes, if you buy in pre-launch or multiple units IS THE SALE HANDLED BY UK LAWYERS? Yes. A team of solicitors experienced in the property investment sector can be used. Ask for more details. HOW MUCH IS THE GROUND RENT? 0.1% of the purchase price. HOW MUCH DOES MY GROUND RENT INCREASE? The ground rent is linked to RPI and so will be reviewed every 10 years in line with inflation.
HOW LONG WILL IT TAKE TO EXCHANGE CONTRACTS? The developer will allow the standard 28 days to exchange contracts. HOW CAN I RENT MY PROPERTY? Quality property in Manchester is in high demand, you can choose from over 100 letting agents in Manchester City Centre. However, we have spoken with Qube Residential and they will offer preferential rates for all clients. Ask your broker for more details. AS A NON-UK RESIDENT AM I TAXED ON RENTAL INCOME? If you are a UK resident, then yes you will be subject to tax. If you are a ‘non- resident’ in the UK, then you are classed as an overseas landlord and may apply to HMRC in the UK for exemption. You would need to file a NRL1 orm with the HMRC. More information is available on their website: https://www.gov. uk/government/publications/
nonresident-landlord-applicationtohave-us-rental-incomewithoutdeduction-of-uk-taxindividuals-nrl1.
DOES THE DEVELOPER OWN THE LAND? Yes, the land is owned by the developer.
WHO IS THE DEVELOPERS SOLICITOR? Gordons LLP. https://www. gordonsllp.com.
DOES MARINERS WHARF HAVE PLANNING PERMISSION? Yes, planning has been granted - you can request this document from your broker at any time.
IS THERE A BUILD WARRANTY? Yes, 10 years. IS THERE PARKING AVAILABLE? 11, and exclusive to penthouse units HOW DO I MAKE A RESERVATION? Very simple, speak with your broker, choose the best unit and pay a £6,000 deposit (inc £1,000 admin). £5,000 is deductible from the 25% deposit on exchange IS FURNITURE INCLUDED IN THE PRICE? No, this is a separate cost. £3,900 + VAT - 1 bed, £4,700 + VAT - 2 bed £5,500 + VAT - 3 bed You can also choose to buy your own furniture from anywhere you decide.
HOW MUCH IS THE SERVICE CHARGE? Service charge is approximately £1.60 per square foot. As your broker for the service charge budget CAN I SELL MY UNIT/S AT ANY TIME? Investors are permitted to sell at any time after exchange of contracts although we always recommend that you should hold property long term to really reap the rewards. ARE FINANCING OPTIONS AVAILABLE? 65% LTV mortgages on completion. Like with any property purchase, mortgages are not guaranteed and are subject to status. You should consult an independent mortgage advisor.