WESTPOINT a NEW RESIDENTIAL APARTMENT BLOCK IN Manchester's most exciting growth area
WESTPOINT WestPoint is the latest development from Manchester’s leading residential developer, Beech Holdings. Located in one of the city’s most up and coming areas, expected to see significant price growth as prices in surrounding areas have risen significantly. Combining high quality contemporary finishings and cutting edge low-carbon technology, Beech developments' properties are in huge demand from tenants and investors, with the company having won local and national awards for their innovative approach to creating homes that the modern tenant wants to live in. Located in Old Trafford, WestPoint is a 3-minute walking distance from Trafford Bar metrolink stop which is two stops away from Deansgate Castlefield metro and train station. The location is highly accessible for professionals working in Manchester city centre but cannot afford to pay prime city centre rents. The property is being redeveloped in to 336 high quality residential units, with market-leading communal facilities for tenants, including a gym, a roof garden, a landscaped Japanese garden area, parking, communal lounge and a coffee bar. Modern low-carbon technology means that the building will be one of the city’s most energy efficient, with a benefit to investors of an enhanced rental yield and future-proof investment. Unrivalled NET yields of between 7.5% & 8%, assured for 3 years by one of the city’s leading letting agencies, with rents personally guaranteed by Stephen Beech, owner of Beech Holdings, offering ultimate security to investors.
STEPHEN BEECH Stephen Beech is Manchester born and bred. He was already passionate about Business as a child, selling Vimto lollies when he was 7 years-old and running his own car wash by the time he was 13. His hard work eventually paid off when he became a young entrepreneur of the year finalist. In 2001, at the age of 24, he bought his first investment property with his hard-earned cash, renovating it himself to rent it out to 4 students. By 2013, he had established his own property business with a portfolio of over 100 properties. Since then, he has turned his attention to Manchester city centre with the acquisition of unloved, forgotten buildings in prime locations. His aim is to create affordable, environmentally sustainable and efficiently designed apartments for the increasing number of young professionals living in the city centre. Today, he runs one of the most successful property portfolios in the UK and employs over 100 people, hiring new talent on a weekly basis.
young entrepreneur of the year Finalist
Student portfolio of over 100 properties Award-winning landlord
Invests £1m in brand new Oxford street offices, opened by Sir Howard Bernstein
Develops city centre portfolio Acquires 90 Princess Street, first city centre building, on track for outstanding BREEAM ENERGY RATING Heavy investment in recruiting talent for the business
2016-
Runs a car wash business in his early teenage years
Buys and renovates his first property and Rents it out to 4 students
2013-2016
Starts his first business at 7 years-old, selling Vimto lollies
2001-2013
Early Years
A brief timeline
Employs over 100 people Owns 20 city centre buildings Wins 2016 Local Business Accelerators Award Over £150m GDV and £50m stock EXPANSION BEYOND CITY CENTRE
THE DEVELOPER: BEECH HOLDINGS To ensure that the Beech specifications are met to a high standard, all the company's construction projects are undertaken by Beech Construction, Beech Holdings' in-house contractor. Beech Construction is headed by a team of highly skilled construction professionals who have developed over 600 properties over the last few years and specialise in creating the low-carbon, high quality properties that are being delivered at WestPoint. All management and lettings are controlled in-house by Beech Holdings' professional and highly dedicated team, branded as Beech Properties.
51 King Street
The current portfolio that Beech Holdings manage has been consistently fully let for a number of years.
25 Cross Street
THE DEVELOPER: BEECH Holdings Beech Holdings transform old office buildings across Manchester into modern energy efficient, low-carbon emitting apartment blocks. The developer has huge experience in the conversion of low-carbon properties. Stephen Beech owns and operates a portfolio of 500 bedrooms within Manchester. Being a significant property owner in their own right, Beech do things differently from most other developers. Beech buildings are designed with great thought being given to the long term durability and efficiency - key things for an investor to consider if they intend to own the property for many years. Their 15 years of experience as a landlord dealing with tenants on a daily basis means that their properties are designed with all materials specifically chosen for their hard wearing properties and also ease of cleaning, reducing long-term running costs for the landlord. For example, all flooring is in Amtico Vinyl for ease of cleaning. The properties will exclude washing machines in the apartments which is often one of the biggest maintenance costs a landlord has to face. These will be contained in separate laundry rooms and maintained regularly by the property manager.
COMPLETED DEVELOPMENTS 90 Princess Street, our first Manchester city centre development saw the conversion of an unloved and unused 20,000 square foot building that had been derelict for over 10 years, into 35 contemporary low carbon apartments, constructed using environmentally friendly materials and products. The project was completed in July 2015 and has been fully occupied since. All investors have been receiving their guaranteed rents since completion, and the building is on track to achieve an outstanding rating by BREEAM, the best a building can be awarded. 25 Cross Street, our most recent completed project, was finished in May 2016. It is an iconic building in the heart of the retail and leisure district in Manchester city centre, which was turned into 27 environmentally friendly apartments, which were fully let within a matter of weeks. The demand from young professionals has been so high that it is now 70 times oversubscribed.
90 Princess Street
Beech Holdings has a proven track record of completing financially successful residential development projects in the heart of Manchester city centre. These were highly lucrative for the investors involved.
90 Princess Street
25 Cross Street
25 Cross Street
November 2016, a successful Time for Beech HOldings Beech Holdings received two prestigious awards in November 2016: Manchester Evening News Business of the Year award 2016. EN North West Entrepreneur of the Year Award 2016. It was an honour to be awarded by respected names such as PWC, who gave us their stamp of approval.
welcome to manchester Manchester, the second city of the UK and centre of the economic “Northern Powerhouse”, is a thriving cosmopolitan city, built upon an industrious legacy. HS2 - Manchester
Manchester is a city with many impressive statistics to its name.
• First industrialised city in the world • Home to the first public library • Birthplace of the world’s first computer • Has the world’s oldest railway station • Birthplace of Graphene - the world’s thinnest material
"the world’s first industrialised city"
a global city Manchester’s rise to be a world leading modern economy has seen Oxford economists predict that employment growth in the city over the next five years will exceed many international capitals including Paris, Berlin and Tokyo. Significant investment is being made across Greater Manchester into all sectors of the economy. Notable infrastructure spending shall make Manchester one of Europe’s best integrated cities with seamless transport solutions for its citizens.
HS2 £40.6bn planned high speed rail link with travel time to London of only 1h8m - construction due to start in the next two years
Upgrade works to provide a new “second city crossing” line and direct connection to the Trafford Centre
Airport £1bn being spent over the next 10 years
"Manchester airport is the largest Uk airport outside of london with flights to more destinations than any other airport in the UK"
an investment hub Further private and public sector investment across the city from both domestic and international investors is testament to the city’s economic vitality and its status as a world class business and investment location.
£650m Media City
200-acre business hub for media, digital and creative industries. The new home of the BBC.
£800m Noma
20 acre mixed use city centre regeneration scheme led by two UK institutional investors Co-op and Hermes.
£1.35bn St John's
15 acres bounded by the River Irwell, the Castlefield conservation area and Manchester city centre to the east. Located at a crossroads connected to Spinningfields, Deansgate, the Museum of Science and Industry and beyond.
£1.5bn Manchester Life
Manchester City Council and Sheik Mansours ADUG’s £1bn 10 year agreement to build 6000 homes in the city’s fringe areas.
£800m MAG
A joint venture with Beijing Construction Engineering Group, this is an £800m investment to transform the airport and surrounding area for rapid expansion of business, aviation, science, and biotechnology industries.
£600m New Bailey
Situated next to Spinningfields, New Bailey is an exciting new extension to Manchester's Central Business District comprising of 2.2 million sq ft new grade A offices and leisure space. The first phase completed Q1 2015.
Manchester’s Gdp growth is forecast at 3.5% per year from 2016-2019
beech Design concept Beech design apartments by keeping 100 % space utilisation in mind. Every room is optimised for maximum space efficiency to include the following: Underfloor heating to prevent the use of wall hung. Remote communal heating system for heating/hot water which removes the requirement for a boiler within the apartment. Communal laundry on every floor. Bespoke storage solutions throughout such as Ottoman storage beds and Custom-made fitted furniture to ensure space is utilised efficiently. These methods ensure all space within the apartments turns into usable functional space. This contrasts with a typical ‘standard apartment’ which usually contains wasted space.
beech Design concept
MANCHESTER PROPERTY MARKET Trafford, which is home to the Trafford Centre, Manchester United and Old Trafford cricket ground is seen as Greater Manchester’s next property hot spot. Greater Manchester will need at least 200,000 new homes by 2040 to support anticipated economic and population growth. With the growth in prices in Manchester and Salford over the last 3-4 years, Trafford has come into investors' focus as a next hotspot due to experience the significant capital growth witnessed in central Manchester. As a result of this, prices grew 9.1% in Trafford over the last 12 months, compared to 3.2% for Manchester as a whole, showing that the market is already waking up to the potential of Trafford as an exciting area for residential investment. A survey of average prices of two-bed properties around metrolink stops shows the differential between Manchester city centre and properties located along the Altrincham metrolink line in Trafford: 1. 2. 3. 4. 5. 6. 7. 8. 9.
Altrincham – £210,013 Navigation Road – £210,013 Timperley – £208,100 Brooklands – £181,845 Sale – £181,845 Dane Road – £181,845 Stretford – £128,526 Old Trafford – £142,159 Trafford Bar – £142,159
Manchester city centre average price of two-bed apartments: £190,000 average, £280,000 prime. It is evident that despite the close proximity to Manchester city centre, there is great scope for price growth in properties located in such an accessible location given the disparity in pricing.
Population growth in Manchester
20% growth over the last 10 years Forecast another 20% over the next 10 years
MANCHESTER PROPERTY MARKET A report by Savills estate agency suggests a strong link between the type of businesses that choose to set up in an area and a subsequent upturn in property prices. The three sectors that play a key role in an area’s economic fortunes are: professional, scientific and technical; information and communication and financial and insurance. The report states that in areas where that figure is higher, house prices out-perform the national average. And in areas with a lower proportion of businesses in the three sectors, house prices tend to under perform.
Manchester property market in numbers:
Trafford, praised for its ability to attract new business, has seen a 37pc increase in these three ‘golden sector’ businesses in the past five years. Trafford boasts the highest productivity per head in the region, at £5.8bn gross value added - and more than 11,000 businesses. Trafford is home to Trafford Park, a 4.7 square mile business park and industrial estate which was the first planned industrial estate in the world and remains the biggest industrial estate in Europe. There are ~1,500 companies located in Trafford Park, employing close to 40,000 people. The recent announcement in October 2016 of the £350m investment into a new Metrolink line through Trafford Park to the Trafford Centre will only help strengthen the investment case for the area and increase demand from tenants to live in locations easily accessible to the Metrolink network for access to Trafford Park as well as the city centre.
Rental growth projection: 2016: 5%, 2017: 4%, 2018: 3%, 2019: 3% Capital growth projection: 2016: 5.5%, 2017: 5.5%, 2018: 4.5%, 2019: 3.5% source Jones Lang Laselle
Location: Welcome to OLD TRAFFORD Old Trafford is a vibrant area which is world famous home to Manchester United FC and the historic Old Trafford cricket ground. It is located only a few minutes away from Manchester city centre, situated close to the city’s main attractions. Old Trafford is close to Media City, home of BBC TV and ITV studios as well as Trafford Centre, one of Europe’s biggest retail and leisure destinations. MediaCityUK is a 200-acre (81 ha) mixed-use property development site on the banks of the Manchester Ship Canal in Salford and Trafford, Greater Manchester. The project is being developed by Peel Media, and its principal tenants are The BBC, ITV studios and the Lowry.
Old Trafford
Manchester Waters is one the last remaining large scale regeneration opportunities located close to the heart of the City Centre, benefiting from extensive waterfront views abutting the world renowned Manchester Ship Canal. The site has a formal masterplan approved and adopted by both Trafford and Manchester City Councils and includes the potential to develop over 2,500 new residential homes.
Deansgate
Media City
1
2
Media City Uk (Salford Quays)
Manchester United FC
3
Manchester Waters
4
5
Manchester University
Beetham Tower
6
7
Central Business 4 District
LOCATION MAP
St. John's Quarter
6
7 5
Selfridges
1
4
3
west point
2
National Football Museum
7
THE OPPORTUNITY WestPoint is offered as a complete hands-off investment opportunity with the whole project managed by Beech Holdings from build through to management of the completed apartments. The properties will be rented on a weekly, all bills inclusive basis. This results in a higher rental yield to the investor than would also be achievable due to the low cost of heating and running the apartments thanks to the low-carbon technology. This lower running cost means that the “net” rent received is higher than traditionally built apartments. Beech Holdings are offering investors a 3-year guaranteed net rental of between 7.5% & 8% p.a. paid monthly. This is a far higher net rent than any modern purpose-built properties in this location. Beech’s experience in managing properties means that they will handle every aspect of the letting and management process. Their success in maintaining the current Beech portfolio at 100% occupancy for over 9 years means that they can offer you this rental assurance with the utmost confidence in their ability to let the property. The development will be delivered as a “best in class” modern development, designed to meet the demands of today’s young professional tenants. All units are 250 year long-leaseholds.
Payment Plan : £ 2,500 reservation reserving the unit for 28 days - 50% on exchange (minus ££ 2500), balancing payment of 50% on completion (scheduled Q1 2018)
Highly experienced nominated UK solicitor available to represent investors at affordable rates Dedicated relationship manager allocated to assist purchasers from point of exchange through to ownership with full understanding of UK regulations and purchase processes
SPECIFICATIONS Heating System Air source heat pumps and under floor heating pipes Kitchen Inset sink with Monobloc tap. Worktops to be 40mm post formed with 100*15mm up-stand. 18mm colour coordinated carcass. Appliances 2 or 4 ring ceramic hob with chimney hood and stainless steel back panel, single under oven or multi-oven. Built in fridge-freezer, washer-dryer and dishwasher in certain apartments. All appliances CDA or similar. Electrical TV point to lounge, master bed, bed 2 & kitchen. BT points to lounge. Standard white power points and switches throughout. White enamel d/lighters to hallway, kitchen (to include kitchen/dinner), bathroom and en-suites. Communal Satellite System to be provided. Intercom door entry system. LED strip lighting with kitchen.
Sanitaryware White sanitary ware throughout. Roca range or similar. Chrome taps and wastes. Concealed wastes and feeds. Showers Thermostatic shower mixer. Pivot shower door. 800 x 800 shower tray as a minimum. Communal Areas All communal areas to be finished in approved material finish and colour scheme. All hallways and staircases to be finished in approved materials and finishes. All communal lighting to be suitably approved. Fire and smoke alarms to be approved. Woodwork Skirting to be moulded MDF skirting throughout, architrave to match (square plank). Staircases to be pre-finished with turned spindles and moulded hand rail.
Doors Internal doors to be flush prefinished white or veneered with brushed steel door furniture. External superior quality walnut external doors with glazed lighting or side panels. Furniture - Bedroom Ottoman (gas lift) leather bed c/w mattress, high Gloss head board (shelf), high gloss built in wardrobe Furniture - Lounge / Diner Sofa, dining table and chairs. Flooring The flooring proposed is from British manufacturer Amtico (Maracailbo). This flooring is 10mm (8mm HDF + 3mm LDF sound insulation) thick. Comes with a surface guarantee to resist wear and tear for 35 months.