Vallea Court, the latest phase of greenquarter in Manchester by award winning developer Crosby Lend Lease is welcoming its first new residents and IT consultant, Mike Mayhew is one greenquarter resident who has found owning his apartment a much better option than renting.
[UKPRwire, Mon Nov 24 2008] Vallea Court, the latest phase of greenquarter by award winning developer Crosby Lend Lease is welcoming its first new residents and IT consultant, Mike Mayhew is one greenquarter resident who has found owning his apartment a much better option than renting.
38 year old Mike had previously been renting an apartment at greenquarter’s Jefferson Place. But with rental rates increasing and conditions in the housing market presenting great opportunities for buyers, Mike decided to make a purchase.
‘With the interest rates and current climate at present there are some great deals out there.’ he says, ‘Buying was a much better option for me than renting and being able to provide my own deposit put me in a strong negotiating position.’
‘It can cost around £8,000 a year to rent in the city and if you’re renting for the next five years you’re paying out £40,000. The mortgage on my new apartment works out roughly the same as what my monthly rent was and buying provides a way for me to build equity instead of paying someone else’s.’
Although Mike had visited a number of other developments in Manchester, his mind was easily made up with greenquarter. Mike says, ‘I always liked living at Jefferson Place. The location is close to the city centre but just on the edges so you can escape the noise and hustle. When the central vista opens it will create a lovely communal park area and the specification in the apartments very high. No other development I saw in Manchester offered such quality.’
Mike now owns a 2 bedroom apartment at Vallea Court with a terrace and describes what attracted him to his new home:
‘What I like about my apartment was that it had a sense of individuality. The interior specification is built to last and low maintenance. My kitchen by Poggen Pohl is sleek and contemporary and has a Siemens hob, oven and dishwasher and cool under unit lighting. The bathroom is also very stylish with chrome fittings, heated towel radiator and my apartment opens out onto a terrace giving me lots of extra space and a great view of the city.’
To Mike, it’s more than just an apartment, it’s a home. ‘There’s a huge difference between a house and a home,’ he says. ‘When you’re renting you can’t even drill a hole in the wall to put up a picture without being in breach of your tenancy agreement! If you own your home you can make it yours and give it some character. Now when I come home it’s my home not just my apartment, I love it.’
Developer Crosby Lend Lease says greenquarter has continued to attract interested buyers despite the decline in the property market and deals are being made. Clare Noakes, Sales & Marketing Manager for Crosby Lend Lease comments:
“greenquarter has been one of Manchester’s best selling developments. Since 2004 we have sold 820 of the 1,360 apartments across the development, which amounts to around 20 a month. At one time with Jefferson Place we were delivering 10 completions a week over a period of 6 months.’
‘Vallea Court, our latest phase at greenquarter, is selling quite well given the current market. The development still attracts a lot of interested buyers and the market is in their favour right now. Developers like ourselves are prepared to negotiate depending on an individual buyer’s circumstances.’
‘With Assist, we have responded to the market to offer a range of bespoke benefits to buyers at greenquarter and our other Manchester development Potato Wharf in Castlefield. Assist provides a range of packages including paying solicitors fees, mortgage survey fees, stamp duty, 5% deposit, 12 months mortgage subsidy and even supplying furniture and home removals.’
‘As Mike’s example illustrates, there are lots of residents currently renting at greenquarter who would love to have their own apartment. My message to them and anyone else who’d like to own an apartment at greenquarter is come in and see what we’ve got to offer.’
greenquarter Marketing Suite is located on Cheetham Hill Road, Manchester and is open from 10am – 6pm 7 days a week. For further details call 0161 839 8879 or go to www.green-quarter.co.uk.
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