X1 Media City
Salford Quays, United Kingdom
- Residential Development
- Tower A
- Net 6% Yield (Assured)
- 209 Studio, One, Two & Three Bed Units
- Completion August 2016
- From £197 per sqft
X1 Media City has already broken records, noted as the largest residential development in Manchester, with over 1,036 apartments spanning over four bespoke luxury towers in the heart of the burgeoning area of MediaCityUK.
X1 Developments, responsible for such successful Manchester developments as X1 Salford Quays and X1 Town Hall, are well-versed in the local area, and will ensure that luxury and high quality will be retained throughout the development as shown in all our previous developments.
Housing a stunning mix of 1, 2 and 3-bed apartments, our unique X1 Media City development, situated right in the heart of MediaCity’s second phase, will truly revolutionise the residential landscape in the area.
How It Works
Investing in new developments is no different to buying a flat or apartment – because that’s exactly what you’ll be doing. The only difference is that the unit has not yet been built or developed. Each investor buys one or more units prior to or during development with the developer using the proceeds to help fund the project. Once you buy a unit you become the legal owner and can do whatever you like with the property once complete – rent it out, sell it or even live in it!
With 1,036 apartments covering an area of approx. 544,820sqf, X1 Media City is the largest residential development in the Northwest. The development itself consists of four iconic towers, each containing a mixture of studios, 1, 2 and 3 bedroom apartments. With spectacular views over the city and MediaCityUK, the apartments are available fully furnished in a high-end, elegant flair.
In addition to the luxury of the apartments, residents of this £200million development will benefit from further exceptional features. These include: underground residents parking, a private gymnasium and an on-site cinema. Furthermore, the first two floors in each building, a total of 22,700sqft of the development, are set aside fo commercial ventures, creating an intimate and at the same time vibrant way of living for residents of X1 Media City.
The location at MediaCityUK, found in the heart of Salford Quays, truly contributes to the cosmopolitan vibe of the development, as it is increasingly becoming the place-to-be for creative and digital businesses.
The development will be block managed and let by X1 Lettings who are assuring a NET 6% return for the first year after completion.
Salford, part of Greater Manchester, was crowned by The Guardian in 2014 as the “UK’s Property Hotspot,” due to its property values having risen faster than anywhere else in the country. In July 2014, Salford even out-did the capital by nearly 4%, showing an annual growth rate as high as 12%. This large rise has been attributed largely to the relocation of British broadcasters such as the BBC and ITV to the MediaCityUK development.
MediaCityUK is the first purpose-built hub for creative and digital industries in Europe. Located along the Salford Quays waterfront, it benefits from one of the best direct city centre connections in all of the UK, through numerous tram and bus stops. Today, MediaCityUK is flourishing like never before, with already more people now working at the Quays than back in its prime as a major seaport.
With the ever-growing media attention, MediaCityUK is increasingly becoming the world’s new “go-to-destination” – and this is just the beginning: The reputation and value of MediaCityUK are only going to improve over time, with development plans worth £20million currently submitted, to expand the site through further hotels, offices and film studios.
Meet The Team
Developer: X1 Developments
Architect: AHR Global
Sales & Marketing: Property Seed Ltd
PRICE & COMPARISON
- Studio: £94,950
- One Bed: £119,950
- Two Bed: £Sold Out
- Three Bed: £Sold Out (Penthouse available, POA)
- X1 Media City price per square foot: £197
- Local area (M50) price per square foot: £
- Manchester price per square foot: £ (Data provided by Zoopla)
- Step 1: Reservation form and £5k deposit payable
- Step 2: Solicitor instructed, legals and sales pack sent out
- Step 3: Exchange of contracts with the balance of 50%
- Step 4: Remaining balance due upon completion (50%)
Gross Development Value (Block A)