Signature Capital is offering investors the opportunity to participate in the last remaining units of this highly lucrative Secured Partnership Investment in Manchester
Signature Mill enjoys a central location in Manchester, approximately one mile to the northeast of the city center. The original building dates from the Victorian period in 1869 when the area contained a number of mills and industrial buildings as part of Manchester’s manufacturing center at that time.
In recent years, there has been considerable regeneration in the area which has included the development of 1,000 new homes and the refurbishment of over 1,500 existing houses. These former industrial areas of Manchester now enjoy much more green space with the creation of five new parks as part of the area’s regeneration project.
Arranged over 99,961 sq.ft and externally 1.288 acres, Signature Mill has a lower, ground and five upper floors. Construction of 29 one-bedroom and 67 two-bedroom contemporary apartments are due for completion by October 31st, 2018, with a Gross Development Value (GDV) in excess of £20 million.
85% of the development is now SOLD to end users and the local NHS Trust has leased most of the commercial area of the building on the ground floor. Included in the project is ownership of 203 parking spaces directly outside the building and with its close proximity to Manchester city center, the Etihad Stadium and the Rochdale canal, the location, and quality of Signature Mill apartments are drawing significant buyer-attention.
£3.5bn has been spent in Manchester on creating the second largest hub for creative industries
Manchester’s economy has shown growth of 7.5% since 2014 ( for London it was recorded as just 6.9% over the same period.
With a population of 2.6m, Manchester is the second largest economic hub after London.
Manchester expects 80,000 new residents by 2033.
Excellent global and domestic accessibility; Manchester has UK’s largest airport outside London and HS2 rail link expected to be operational soon.
Approximately 80% of the FTSE 100 Companies reside in Manchester
Centre of top-quality higher education – three main universities in the area are home to 95,00018-30-year-olds.
HSBC has consistently selected Manchester as the top city for investment, reporting the highest yields in the country and a strong demand. The city is an excellent location for investors seeking property investments that will outperform any other market in the UK. Due to regeneration efforts by the government and some quoting the city as the Next Silicon Valley, Manchester’s economy has received a massive boost in sectors such as engineering, financial services, technology, broadcasting, and media. Manchester’s Media City has become the UK’s Media Hub, with companies such as ITV, Granada and most recently BBC relocating their offices from London.
This move has not only brought a large population of skilled workers into the city but also contributes approximately £300m per annum to the economy.
Signature Mill is a prominent 6 storey former Textile Mill of traditional red brick construction and boasts a Heritage England listing. It is situated in the Manchester City regeneration area, with its principal frontage to Varley Street. It benefits from an attractive entrance foyer and extensive secure external car parking. The upper floors benefit from panoramic views of Manchester City Centre and the surrounding area. Located on the Rochdale Canal Towpath and just minutes from Holt Town Metrolink station it offers great transport links to the city center via both bicycle and public transport. The ground floor is occupied by the NHS who bring vibrancy and natural surveillance to the building.
This investment will work on the principles of Secured Partnership Investment (SPI). Simply put, this is a secured loan arrangement secured via a corporate guarantee from Signature Living Hotels Ltd which sets out various investor protections as per the conditions of the contract. The corporate guarantor position is backed by the full estate with a current GDV of 450m GBP and a balance sheet in excess of 100m GBP.
With £5 million paid out to customers in 2017 and predicted pre-tax profits of 37.4 million for the 2017-18 financial year, the Signature brand continues to go from strength-to-strength and with more satisfied investors than ever.