Offering premium living in Manchester City Centre for just a fraction of the cost, L&Q is set to launch its first phase of Shared Ownership homes at Victoria Riverside this month.
L&Q at Victoria Riverside is a collection of one and two-bedroom Shared Ownership apartments within the City View Tower, located just a short walk from the vibrant city centre, Manchester Victoria station, Angel Meadows Park and a brand-new park in the making, City River Park, eventually spanning over 113 acres along the River Irk. Making these properties ideal for first-time buyers or those looking for the ultimate inner-city lifestyle, the new homes are available with deposits from just £8,663 – a huge 57% less than the local average*.
Through Shared Ownership, buyers can purchase a share of their new home, starting from 35%, paying a mortgage on the part they own and monthly rent on the portion of the home they don’t. A deposit is only required on the share being bought, making it a more affordable route for many looking to step onto the ladder. As and when shared owners can afford to do so, they can purchase more shares through a process called ‘staircasing’, eventually owning 100% of their home.
Claire Brenlund, Sales & Marketing Director at L&Q comments: “This is L&Q’s first major launch in Manchester city centre, and we’re incredibly excited to bring such a large number of Shared Ownership properties to this buzzing new neighbourhood.
“With a huge amount of amenities, including shops, restaurants, cafes and nightlife just a stone’s throw away, alongside great transport links and access to green space, L&Q at Victoria Riverside is set to take the city by storm.”
The apartments at L&Q at Victoria Riverside boast stunning views of Manchester city centre through large picture frame windows, with each plot offering a fully inclusive specification and two contemporary colour palettes to choose from for the kitchen and bathroom. The development also features access to amenities including a state-of-the-art gym, a communal workspace, a concierge service and podium gardens.
The 18-storey building housing 128 Shared Ownership homes is in the up-and-coming Red Bank neighbourhood, forming the first phase of Victoria North. Victoria North is the North of England’s biggest urban regeneration project, with new schools, healthcare facilities and transport links set to transform the 155-hectare site. Developed by FEC and Manchester City Council, over the next fifteen years the £4bn Victoria North project will comprise over 15,000 new homes spanning seven new and existing neighbourhoods.
Cllr Gavin White, Manchester City Council’s executive member for housing and development, said: “Victoria North will deliver thousands of new homes in the coming years across seven exciting new and emerging neighbourhoods. Important to their success will be creating a range of housing options for our residents to create sustainable, diverse communities. This means making sure there are affordable homes of different tenures and price points to make sure as many Manchester people can access the new housing as possible. We welcome this investment into shared ownership homes, which not only offers more affordable housing in the short-term, but also a real route onto the property ladder.”
Strong public transport links nearby include Shudehill tram stop and Hanover Street bus stop, both a ten-minute walk away – allowing residents to travel across the city with ease. For those travelling across the country, Victoria Train Station is just a ten-minute walk away, with frequent trains to Manchester Airport, Chester and Liverpool, to name a few.
Being positioned at the doorstep of the city centre means easy access to all the amenities Manchester has to offer, including Arndale Shopping Centre, with over 200 stores spread over two levels – the biggest inner-city shopping centre in the country. As well as chain stores, there is an array of independent stores nearby, such as the Arndale Food Market to plenty of food, clothes, books, and lifestyle shops.
Residents will also enjoy Red Bank’s emerging status as a hub for retail, dining and beverages, featuring a wide array of popular restaurants, bars, and local micro-producers including Michelin Guide-listed The Spärrows restaurant. Kingfisher will also be just a short walk from FEC’s Meadowside scheme, which provides a wealth of community events for local residents at Angel Meadow Park
L&Q at Victoria Riverside will be based from the Homes by FEC marketing suite on Aspin Lane, around the corner from Victoria Riverside, every second Saturday from the 24th August, with prices starting from £247,500 for a one-bedroom apartment.
For more information, register your interest at https://lqhomes.com/victoriariverside/.
*ONS, 2024.
