Press Release – For Immediate Release
Golden Emperor Properties is pleased to announce the partnership with UK developer, Renaker, prolific in developments in Manchester, to launch Deansgate Square South Tower in Hong Kong. This ground-breaking condominium residence will be the icon of Manchester’s economic regeneration, soaring into the skyline at 64 floors high. Deansgate Square offers units starting at HKD 2.4M. This prestigious residence, with location comparable to Hong Kong’s Happy Valley, in close proximity Manchester’s booming CBD, is a rare investment on the UK market and will be highly- desired by savvy investors globally.
Property Market Prospect Surpasses the Capital
Manchester has emerged as the second city of the UK. Despite the lag of its property market, Manchester’s growth rate at 3%, surpasses the capital, London, at 1.6% in 2017, being deemed as the liveliest city of the UK with the highest FDI rate and a fastest-growing property market. Within 2 decades, the property price in London increased from £500,000 in 2000 to £1,700,000 in 2017. Likewise, Manchester’s property price rose 4 times since 2000 from £60,000 compared to today at £250,000.
Reports reveal that Manchester’s economy will set for a £634 million growth and create more than 22,000 new job opportunities as the third most active technology-based city in the UK. The property market, under high demand and enhanced by capital appreciation, is predicted to rise with a work force expanding at 27% per annum. A strong economic growth coupled with population increase will help fuel Manchester’s housing and rental demand and a continual surge above its current buy-to-let occupancy rate at 98% and rental yield at 7.8%.
Manchester Flourishes Under China’s Capital Inflows
Manchester booms as ‘the Shanghai of UK’ powered by the Northern Powerhouse Initiative and remains to be the top city in the UK for foreign direct investments (FDI). In 2016, the Northwest region of UK attracted more than 90 FDI projects, 70 of which were based in Manchester.
In 2015, Chinese President, Xi Jinping made an exclusive visit to Manchester, which cemented China’s contribution to Manchester’s ‘Northern Powerhouse’ status and marked a golden era of bilateral relations. China injected an investment sum of £130 million into the redevelopment of Manchester International Airport’s ‘China Cluster’ for direct flights to operate from China to Manchester. Chinese companies have since focused their attention to Manchester including The Beijing Construction Engineer Group, which contributed into the £800 million business district development of Manchester Airport. Chinese FDI in Manchester has totaled to over £3 billion since 2013 across a number of sectors and its input will continue to create massive opportunities for businesses, increase bilateral trades, create jobs and boost the economy in this northwest city of the UK.
Location Comparable to Hong Kong’s ‘Happy Valley’
Located in the quiet and elite M15 community nearby Castlefield, Deansgate can be well compared to Hong Kong’s Happy Valley district, favored among expatriates due to its convenience to major transportation routes, Hong Kong’s CBD and shopping centers nearby. Manchester’s CBD will undergo a £3 billion regeneration project, to construct more than 700,000 square meters of commercial space, all of which will be reachable within a 10 to 20-minute walk from Deansgate Square. At the heart of the city, the Deansgate neighborhood remains to be an upscale residential area for the wealthy and high-income in close proximity to a realm of shopping centers, high-end cuisine and world-class universities. Its location to nearby metro-link and light rail stations will further provide an ultimate level of convenience for its residents.
Manchester’s Upgrade of City Connectivity
Besides progressing an ambitious airport expansion scheme, Manchester is implementing a £56 billion London-Manchester High Speed Rail (HSR2) infrastructure project. HSR2, completing in 2033, will connect Manchester to UK’s capital, London, in just over one hour and will be able to minimize travel time to major cities including Birmingham, Nottingham and Leeds. Manchester will likewise benefit from its local £2.1 billion metro-link expansion, UK’s largest tram system, with 92 stops within the Manchester municipal. The regeneration of the city’s CBD will equip residents in the neighborhood a convenient and improved network of transportation for an upgraded connectivity within Manchester city and the rest of UK.
Advantage of a Weakened Pound
The Great Britain Pound has dropped 68% since 2008, the lowest rate in the last decade. Analyses have already cited that the pound is tipped to rise in the upcoming year. In regards to investing in the current UK market, Golden Emperor Properties Managing Director Mr. Terence Chan justifies, “with the depreciation of the GBP, investors, especially those from Hong Kong and China, have been the most active on the market. Now is the time to take advantage of the weakened pound, as well as Manchester’s uprising investment prospect from the Northern Powerhouse Initiative before the pound strengthens again. The strong job growth in the city is one of the key drivers premised by a large number of renowned corporations headquartered in the city, resulting in a high demand in the rental market. At a 98% occupancy rate and a rental yield of up to 8% in Manchester, Deansgate Square is a remarkable investment opportunity available on the current UK property market.”
Exclusive Profile of On-site Amenities
Bounded by River Medlock and Owen Street, Deansgate Square will be the most contemporary and spacious residence delivered in Manchester. The upscale 24-hour concierge residence will be the firsts in the city, to host an exclusive profile of on-site amenities including a multisport indoor arena that can transformed into a badminton or basketball court. The residence will be an oasis for all lifestyle connoisseurs, offering a heated swimming pool, dance studios, aerobic and yoga studios and a 2-floor fitness center. Spa treatment rooms, a cinema and lounges are housed in the complex along with a rooftop garden with adjoining function hall to host private events. All facilities are exclusively tailored for residents of Deansgate Square.
Scheduled for completion in Q2 of 2020, Deansgate Square, will be a symbol of Manchester’s rapidly-evolving metropolis status. At 64 floors high, its South Tower will replace Beetham Tower and become the tallest skyscraper of Manchester to accommodate 496 1-bedroom, 2-bedroom, 3-bedroom and penthouse units ranging from 460 square feet to 1,777 square feet, with the lowest priced unit at HKD 2.4M. Deansgate Square is merely a 4-minute walk to the Deansgate- Castlefield metro-link station and a 15-minute walk to HSR2 Piccadilly Station. The posh M15 neighborhood is frequented by celebrities, company elites and executives and Deansgate Square’s iconic standing, aloft the Manchester skyline will further allure those chasing after a contemporary and luxurious setting as their home.
Renaker is the leading and most prolific real estate developer in the central business district of Manchester, United Kingdom. Trusted by its customers and stakeholders alike, Renaker has a proven track record in the successful delivery of aspirational large scale residential-led projects and building for the long-term enjoyment and well-being of the new communities it creates. Renaker is different and unique in its approach and delivery. Its capability, through a wealth of experience and first-class competence, extends to the full direct delivery of development design, build, management, service and aftercare This eliminates risk and brings efficiency to ensure that Renaker delivers certainty, security and the most attractive returns on investment for its customers. http://renakerbuild.com
About Golden Emperor Properties Inc.
Golden Emperor Properties (HK) Limited is a Hong Kong-based property agency company that offers property investments worldwide to clients in Hong Kong and internationally. Since the establishment of the company, it has accomplished close partnerships with developers from England, Australia, Thailand, Vietnam, Malaysia, Japan and Europe. The company has a team of dedicated sales representatives to provide consultation and services on relevant enquiries for investors, including tax information, buy and sell procedures, payment schedules and etc. www.goldenemperor.com
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