Westpoint Track Record
Westpoint residential apartments are now completed in central Manchester, generating high returns and strong capital growth for its investors from an initially low-priced investment.
Westpoint’s successful redevelopment into 346 residential units was accompanied by the construction of a state-of-the-art gym, communal lounge, coffee bar and several garden areas including a roof garden and a landscaped Japanese garden. Located in the major central Manchester regeneration zone of Old Trafford, this project also sees high-quality finishes meet cutting-edge low-carbon technology. The development sold out in just over a year’s time. Construction commenced in June 2017 and was completed by January 2019.
An Up and Coming Area of Manchester
Manchester is a quickly growing city considered one of the most poignant for key economy sectors around the world. However, the immediate location of Westpoint has proven particularly successful for buy to let investment. The quickly emerging area of Old Trafford is an established regeneration zone just 4 minutes away from Castlefield at the start of Manchester city centre. The residential accommodation is now 100% tenanted with tenants settling in well to their new Manchester residence.
The Westpoint development is just one example of a successfully completed and tenanted property within our portfolio at RWinvest.
Timeline from Release Date to Completion
Planning Permission is Approved - Westpoint gained planning permission at the end of 2016 when the developer - Beech Holdings’ vision for a new Manchester apartment block started to really come to life.
Construction Begins - After various investigations took place throughout the existing building, construction could begin at one of Manchester’s most exciting refurbished developments.
Design of Scheme Complete The detailed design of the scheme was completed, and the studio show flat was presented to the Board of Directors for approval. The concept was agreed, and the specification could then be implemented across the entire building.
Full Project Completion - Despite minor delays due to the adverse weather conditions, Westpoint achieved official legal completion in January 2019. The development was finished to an amazing standard.
An Informative Construction Process
RWinvest’s regular construction updates kept investors in Westpoint apartments up to date with all the latest construction throughout the development process. Despite the building already being in place, there were extensive refurbishment works to be carried out, and the updates helped to provide a concise and easy to understand construction summary so that investors felt part of the journey every step of the way. Our dedicated Client Relations team were also on hand in between construction updates to assist with any queries from investors in the Westpoint development.
Onsite Management and Lettings
The management company on Westpoint is Manchester Apartment. They still to this day assist in the onsite management of the apartments post completion and the processing of the 8% net rental returns investors were assured. Wherever investors are in the world, they can rest assured that their property and the entire building is being well maintained and looked after. The security throughout the site is also at its optimum. Meanwhile, Beech Properties handled the lettings at Westpoint, 100% tenanting the development in record time using their expert marketing techniques and knowledge of the Manchester area.
Investor Feedback on Westpoint
Numerous months have passed since the completion of Westpoint in Manchester, and investors remain happy with the performance of this investment. All apartments were completed to a high quality and standard of finish, delivering a luxury furniture pack as promised. Investors have been receiving their assured net rental returns to produce high rental income each quarter. In addition, prices have risen in the area by up to 15%, with capital appreciation continuing to build in Manchester to present a healthy-looking exit strategy for the future.
A Development Fit for the Future
Westpoint goes above and beyond standard property developments by introducing modern, low-carbon technologies to its apartments. The inclusion of these features deems the development one of the most energy efficient in Manchester. Technologies include underfloor heating which dismisses the need for high energy using wall heaters, and remote hot water communal heating systems which remove the need for boilers.
The low-carbon aspect of the apartments has enhanced the rental returns available to investors in Westpoint. Due to a higher demand for greener properties, especially from young renters, apartments with newer and lower-energy technologies are considered more desirable on the market and can therefore rent out for more. Westpoint apartments are fit for the future and will provide high rental yields for years to come.
About the Developer
Beech Holdings is an award-winning property developer based in Manchester that has successfully developed and tenanted over 600 properties to date. Efficiency and long-term durability are at the centre of every project they develop, appealing to those investors looking to own property for a number of years whilst making high rental yields and maximum capital appreciation. With a focus on Manchester property, they have completed numerous building conversions and off plan developments. Beech have built up their portfolio over the years and have acquired a proven track record of completing financially successful residential development schemes.
They have won multiple highly esteemed national awards for their pioneering approach to creating homes fit for the 21st-century tenant. Beech are renowned for doing things differently but effectively, lowering the running costs of the average property development to a significantly greener level via the use of low-carbon technologies. The developer also has over 15 years landlord experience, learning exactly what tenants want and need from their rental accommodation. An inhouse contractor is employed to perform the construction of Beech Holdings projects and management and lettings are also controlled by the professional Beech Properties team.
Manchester City Centre
- - 4min by car
- - 10min by Metrolink
Trafford Bar Metrolink
- - 1min by car
- - 6min by foot
- - 23min by car