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When you hear the word ‘Manhattan’, your mind probably conjures up a few images.
Parties.
Glitz.
Glamour.
But, the next big property trend?
Yes, a Manhattan is more than just the name of a city (or a drink/fancy nightclub) – it’s also a term for a particular brand of apartment.
What is a Manhattan-style apartment?
Well, in this guide, you’ll learn all there is you need to know – from a Manhattan-style apartment definition to all its benefits.
So, let’s just jump right into it:
Essentially, a Manhattan-style apartment is a studio with a secluded bedroom. Manhattan apartments function as a kind of mix between traditional studio flats and one-bedroom apartments.
In the world of property investment, there is almost nothing as important as keeping up to date with the latest trends.
Whether you are just getting started with property investment or looking for the best place to invest in the UK, knowing your tenant’s needs is an essential piece of knowledge that separates wasted investments from the more lucrative ones.
Now, you’re probably wondering: what makes Manhattan apartments better than typical studio flats?
Well, what separates the Manhattan from a studio apartment is the privacy.
With most studio apartments, it’s easy for your guests’ eyes to wander toward your bedroom simply because it’s right there in the front room next to your kitchen.
With an entire apartment on show, there isn’t much you can hide – it’s probably one of the main concerns people have about spacious open-plan living areas.
On the other hand, Manhattan-style apartments are designed so that visitors don’t have to wander past your bed whenever they come over for dinner – it’s that added level of privacy that is one of the most significant selling points.
You may also be asking:
‘Why not just buy a one-bedroom flat?’
Being more compact than one-beds, Manhattan apartments are also much more affordable to buy. Rental costs are also slightly lower than the cost to rent a one-bedroom flat, while still being high enough to generate a good return on investment.
They also come with the added bonus of the sizing still being sufficient to qualify for a mortgage – making Manhattan apartments perfect for investors looking to put an initial cash deposit down, and mortgage the rest of the funds.
As well as this, the more efficient, compact design is a highlight for investors (and tenants) in terms of energy efficiency.
It’s no big secret that climate change is a significant threat – and the effects are being felt in every facet of our lives.
It is estimated that 40% of the UK’s carbon is emitted by households. To tackle this, the government has highlighted the property market as a critical area to combat to match their net-zero target by 2050.
Recent discussions are also proposing that, under new EPC regulations, any property let to new tenants will need to have an energy performance certificate (EPC) rating of C or above by April 2025.
With around 12.6 million UK homes recording an EPC rating of D or lower, it’s clear that there will have to be a greater push to improve the energy efficiency of UK properties.
Rather than improving an older property’s insulation or energy output, though, another option is investing in eco-properties.
An eco-property is precisely what the name implies – a development purposely built with sustainability in mind which is often made with environmentally-friendly materials and low carbon technology.
With all of this in mind, it’s also clear that, for both investors and tenants alike, eco-developments will become a much more popular attraction.
The good thing about Manhattan-style studios is that even just their design already instinctively appeals to these eco-friendly sensibilities.
Recent listings Heaps Mill and Rice Works, for example, have incorporated this Manhattan-style trend in their units. These apartments feature a 10-20% smaller design than the typical one-bed apartment.
However, this is not just to give things a nice, homely feel.
Not only is this efficient in terms of space: but it could also be a huge helping hand in terms of energy efficiency.
A smaller property means less energy is needed to keep things warm.
In fact, your tenants may hardly ever have to keep the heating on for long.
Like all units in the Heaps Mill development, Miller’s Place also features all the essentials for the latest in sustainability-boosting technology – such as solar panels and smart heat pumps – meaning bills, in general, will be a meagre cost for tenants.
With features like these, eco-friendly Manhattan apartments like these could be perfect for those seeking a more energy-efficient investment.
Read another of our articles to learn all you need to know about eco-investing.
Location is another aspect of property investment that is vital for success.
Where your investment is housed can often be even more important than it looks.
Another great thing about Manhattans is that they typically benefit from being in a quality location and looking good at the same time.
Apartments like these are primarily tailored-made for young professionals which makes them more likely to be based in city-centre locations.
Miller’s Place and the Mill, for example, are located right in the heart of Liverpool City Centre, a few minutes from the Baltic Triangle, Liverpool ONE, and the Royal Albert Dock. It’s a perfect spot for those looking to get the most out of the city.
In fact, with its proximity to the trendy Baltic Triangle spot, you can even say that the relationship between Manhattan and Brooklyn is replicated alongside the apartment design.
You may be wondering why you should invest in a Manhattan apartment in Liverpool in 2023.
Well, in this case, there is a bucket-load of reasons to consider Liverpool property investment.
Over the last year, the city has flourished in the property market – with Liverpool seeing the second-highest capital growth out of any city in the UK.
And there are no signs of this changing any time soon, as predictions show an 11.7% rise in North West house prices by 2027 – again, at the top level of growth in the UK.
UK regeneration projects typically cause a city to boom in rental demand and capital growth.
Regeneration is rife in Liverpool at the moment – with around £14bn being spent on boosting the quality of living in the city.
These projects include a £2bn inner-city revamp of the Knowledge Quarter, dedicated to expanding health and life sciences – one of Liverpool’s global leading strengths.
Work like this is also vital in providing new job opportunities – with around 6,000 jobs expected to be created this – which is also a great way of bringing new professionals into the area that can quickly become new tenants.
You’re undoubtedly well aware that rental demand is skyrocketing at the moment – likely a side effect of the rapidly increasing regional population.
In Liverpool, with resident numbers continually on the up, things are no different.
Between 2017 and 2021, the population increased by 1.4%, with 75% of the city centre population aged 17 to 29 – a key age group for renters.
As many are choosing to move up North, Liverpool’s population is only expected to grow even further over the coming years.
Again, for those looking for a quality investment, this should be music to your ears: as it means there is likely to be a steady flow of potential new tenants for years to come.
And what better place to start than looking at a Manhattan apartment?
8% NET Rental Return
300m Away From New £1bn Royal Hospital
Serviced Accommodation in Liverpool
Part of the Heap's Mill Development
7% Assured Net Rental Return
Affordable Payment Structure
8% NET Rental Return
300m Away From New £1bn Royal Hospital
Serviced Accommodation in Liverpool
Part of the Heap's Mill Development
7% Assured Net Rental Return
Affordable Payment Structure
So, there you have it – you now know what a Manhattan-style Studio Apartment is and why it has the potential to become one of the next big property trends.
Still not convinced why you should invest?
Well, in summary:
If you’d like to learn more about property investment, consider reading some of our latest up-to-date guides.
Or, if you feel like you’re ready to indulge yourself in a Manhattan, check out an exclusive RWInvest opportunity and learn more about Miller’s Place, Heaps Mill and the Rice Works.
Disclaimer: This guide was updated in June 2023. All statistics displayed are likely to change according to property market fluctuations and may no longer be accurate depending on the date you read this content.
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