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Jones Lang LaSalle sees high rate of apartment sales at converted development in Ancoats.
Manchester, 5th August 2013 – Property consultant Jones Lang LaSalle has sold 50 per cent of the first release of apartments, in their first week on the market, at new development Royal Mills.
The initial release of 40 newly converted one, two and three bedroom apartments, at the Grade II listed development, located between the Northern Quarter and Ancoats Urban Village, saw the purchase of 20 within seven days achieving circa £240 per sq ft.
Two further release phases are planned for apartments at the development. Anthony Stankard, Director in Jones Lang LaSalle’s Residential team, said:
“Royal Mills reflects Manchester’s continued evolution, with new design juxtaposing industrial heritage.
“We’re planning two further release phases of the apartments but the development’s initial popularity is proof high quality design will always be of interest to both local buyers and long term investors. While demand still outstrips supply, Manchester’s stock of good quality property is helping to bolster the city centre residential market.”
Apartments at the development range from over 500 sq ft to upwards of 1,400 sq ft with prices starting at £119,950.
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