By Tharmini Kenas

Comfortable living with an urban edge

PETALING JAYA: Lendlease Development Malaysia Sdn Bhd has recently launched the final phase of Potato Wharf in Castlefield, Manchester.

With the aim of bringing London specifications into Manchester, Lendlease has merged the heritage elements of Manchester into this development. The 191 new one- and two-bedroom apartments are set in Manchester which is considered UK’s second city.

In an interview with StarProperty.my, Lendlease Development residential head Richard Cook highlighted the fact that Manchester shows real growth regarding the property market and is a safe and robust market for investors.

“We are targeting investors looking for good returns especially Malaysian investors who are well-versed in long-term investments. Manchester sees seven days turnover for sales.

"This is because there is student population of almost 100,000 coming from the University of Manchester and University of Salford, as well as the professionals from major companies such as Royal Bank of Scotland, BBC, ITV, KPMG, C-Operative Group and BNY Mellon,” he added.

As one of the ten best performing buy-to-rent locations in the country, outranking major cities such as London and Birmingham, Manchester’s rents are predicted to increase over 20% by 2021.

Manchester’s population is expected to top 80,000 by 2024

Potato Wharf’s heritage and cultural aspects are also quoted by Richard to be a contributing factor for its high investment prospect.

“Castlefield is a special place, combining an intimate village feel and iconic canal-side living with the excitement and convenience of a major city. It is packed with architectural heritage, fantastic culture, and exceptional venues to eat and drink at the doorstep of Potato Wharf,” he said.

Potato Wharf is expected to complete in 2019.

Lendlease is also the development manager for The Tun Razak Exchange (TRX), which is set to be completed in 2020 in Kuala Lumpur.