Our featured project this month is Beaumont Morgan Developments’ Adelphi Wharf, a large-scale new build apartment project that is a key component for the regeneration of Salford.
The £76 million three-phase project is comprised of over 550 units built to high-spec finishes with incorporated gym and underground parking. It is being constructed for Fortis Developments, an award winning development company who received the iProperty Best Development Awards 2015.
Salford neighbours Manchester and has played a key part in the modern rise of the region of Greater Manchester. Salford has a significant place in the history of the North of England with Salford Quays being home to the Manchester Ship Canal city to the Irish Sea and allowed this inland city to become the country’s third biggest shipping port. The Quays now host MediaCityUK which acts as headquarters for the BBC, ITV, Bupa and many other large companies.
Salford is now an investment hotspot with rental yields currently at around 6% and average house prices at £162,000. Neighbouring Manchester is only a short commute away and is attracting attention from all over the world, particularly from Chinese and Japanese investors.
Manchester is the third most popular tourist destination in the UK after London and Edinburgh. The population of Manchester is due to increase to 600,000 by 2030 in response to its thriving economy and its appealing house prices which are predicted to increase by 20% over the next four years.
Adelphi Wharf’s surrounding area rates highly for education, transport, amenities and things to do. There are six state primary schools in the area that are rated good or better by Ofsted. Six secondary schools are rated good or better by Ofsted and there are many options for private education in the area. The nearest motorway and train station are a mere six minutes away with Manchester International Airport only 27 minutes’ drive.
Beaumont Morgan Developments engaged London Belgravia Surveyors in order to carry out independent professional monitoring services with the purpose of supplying Professional Consultant Certificates for all of the units upon completion. Further to providing impartial monitoring and consultancy functions, London Belgravia Surveyors’ Professional Consultant Certificates will provide comfort to any lenders supplying mortgages against the properties in future. We are very excited to be part of this project.