Office accommodation near Manchester’s Spinningfields has been transformed into 18 studio and one-bed apartments.
The Duke Street scheme, by Manchester-based developer, Beech Holdings, has retained many original heritage features of the building.
The development was fully-occupied at the time of completion last month and stood at a GDV of £4.7m.
Stephen Beech, CEO of Beech Holdings, said: “This was a beautiful building to work on.
“It’s nestled between the towers of Spiningfields and Castlefield Heritage Park, so was snapped up by tenants within a matter of weeks due to the location and careful restoration.
“We are experiencing such a high demand right now for excellent quality rental homes in Manchester. Our lettings team dealt with over 30,000 enquiries in September and October and the speed in which Duke Street was let is once again an indicator of demand in the city.”
The Duke Street scheme is made up of studio, one-bed and one-bed duplex apartments and includes all the usual high specification fixtures and fittings Beech Holdings is known for, including Bosch appliances, Hansgrohe showers and Amtico flooring.
Stephen Beech added: “We’re currently looking to sell this asset as a whole with Manchester Apartments maintaining the management of the building.
“This means we can continue to offer our tenants, including young professionals and graduates, a fully inclusive pricing system so they can feel reassured a large part of their monthly cost of living is fixed. Right now, this is a primary request from residents, something we have always offered.”
Beech Holdings said it has a history of taking on unloved buildings and regenerating them into modern, tenant-inspired homes with a strong focus on placemaking, community creation and sustainability.
The business has recently launched its new City Co-Living brand offering a co-living concept that will welcome tenants next year in schemes currently in construction.
The company, which has more than 900 apartments in the rental market, offers an end-to-end investment service and a fully integrated offering, meaning that it promises investors and tenants a full-service operation of design, development, management, lettings and maintenance.
A further 1,000 apartments are under construction in Manchester and Newcastle with flagship projects, such as Ancoats Gardens, on Rochdale Road, and Piccadilly Warehouse, located on Bloom Street – which is one of the last remaining Grade II-listed warehouses in Central Manchester.