The Residential investment team at Jones Lang LaSalle has been instructed to sell Skyline Central 2, an award winning prime development located on the fringe of Manchester’s northern quarter.
The building which comprises 129 high specification apartments in a 19 storey tower is one of the most desirable rental blocks in the city offering tenants unrivalled facilities including a resident’s gym, health suite, 18th floor sky pool and 24 hour concierge.
As activity in the residential investment market has increased rapidly over the last 18 months, and with the influx of overseas operators and new entrants into this market there is a limited pool of available stock, particularly in London and the south east.
As a result, a growing number of buyers are seeking opportunities in the major metropolitan areas and with its increasing population of young urbanites, strong employment growth and a vibrant cultural and sporting scene, Manchester is well placed to capitalise on this new demand.
Commenting on the appointment, Tom Henry, Residential Director at Jones Lang LaSalle, said: “The recent influx of capital into the residential investment market has been significant with international funds, housing associations and increasingly domestic institutions seeking to increase their exposure to the sector.
"Given that Manchester offers a combination of strong rental returns and huge potential for capital growth, we anticipate strong demand for this asset.”
Jones Lang LaSalle is acting for Wheatley Properties on the sale.
