A contemporary residential development in the heart of Cheadle, Weavers Yard offers investors a rare combination of strong returns, premium features and long-term potential.
Meticulously crafted, Weavers Yard is a conversion of two former office blocks to cater for those who want both a prime location and spacious modern-styled living.
Weavers Yard
Weavers Yard is a thoughtful conversion in Cheadle Village, consisting of a selection of 1, 2 and 3 bedroom apartments. The building has been meticulously re-imagined to cater for those who want both a prime location and spacious, modern-styled living accommodation.
Exclusively for residents, a fully equipped gym is on-site, providing a state-of-the-art fitness space on your front door, whilst offering both convenience and a sense of community for all.
Located just a few minutes walk from Cheadle village, Weavers Yard benefits from easy access to excellent local shops and amenities, dining options and nearby countryside walks.
Investment Highlights
- 7% assured returns when signing up for Motif lettings and management
- Cheadle train station in planning - connect with Greater Manchester
- Cheadle secured a £13.9 million ‘Town Fund’ from the UK Government
- High-spec interiors
- Gym
- Electric car charging points
- 1 parking space per apartment (included in the purchase price)
- Security surveilance
- Surrounded by local amenities
- 25 min to Manchester city centre
- 10 min to Altrincham and Stockport town centres
The UK’s #1 property investment location
Manchester is one of the UK’s best property investment locations, with world-famous culture, outstanding lifestyle and convenient connectivity to the rest of the country and the world, making it a great place to live.
Billions of pounds of investment, a booming economy, a world-class university sector, and thousands of highly desirable jobs make it somewhere people move for work.
A growing population, low construction rates and a lack of available housing - especially luxury city centre properties available housing - make it the ideal place to invest. Whether you are a first-time investor or want to add to an existing portfolio, Manchester has everything you ever need.
Manchester economy
Manchester is an economic powerhouse and unquestionably one of the UK’s strongest success stories. The city is growing fast thanks to a new modern economic revolution that puts it at the forefront of the fastest-growing sectors in the world.
The city’s regional economy is worth more than £87bn, and new analysis from EY shows that it will keep growing at a rate of 2.2% per year until 2027. That is much faster than the national average of 1.9%.
The city’s GDP per capita increased by 44% in the last Census period, from £35,739 to £51,330. This is the largest increase of any major UK city. The number of businesses in Manchester grew from 17,000 to 23,500, and the number of people employed in the city went from 350,000 to 426,000 over the same period.
Manchester’s regeneration
Manchester’s transformation can be best seen by looking at its major regeneration areas. They are changing Manchester’s skyline and upgrading its ambition at the same time.
With almost 30,000 more people coming to live and work in Manchester by the end of the decade, these regeneration areas will be where the future is built in the city. It is also where property investors have a big opportunity to invest now and reap the rewards for years to come.
Major regeneration projects include Victoria North, NOMA, MediaCityUK, Great Ducie Street and First Street.
Market Highlights
- Savills has projected house prices in the region to grow by 31.2% by 2029, with JLL also projecting rental prices will grow by 21.7% in the same period
- The city's economy is worth more than £87bn, and new analysis from EY shows that it will keep growing at a rate of 2.2% per year, which is faster than the UK average of 1.9%
- The region currently has some of Europe's largest regeneration projects, with schemes such as the Regent Park masterplan, Victoria North scheme, NOMA, MediaCityUK and First Street creating new communities throughout Manchester
- Manchester recorded the highest GVA growth across the Big Six cities over the past 10 years, as the Northern Powerhouse economy grew by 32%. Over the next decade, the region is forecast to have the second-highest GVA growth of 23%, only being beaten by Bristol by 1%
- Throughout the past 10 years, Manchester has had nearly 10% growth in population. This is above the average of the Big Six cities, which sits at 8.7% and considerably surpasses the UK population growth at 6.3%
- JJL’s recent Buyers and Tenants Survey shows there is significant interest for properties, including apartments, in central locations close to key amenities, such as public transport, leisure facilities, shops and restaurants
Projected House Price Growth
Projected Rental Growth
What is the project name?
Weavers Yard
What is the address?
41-43 Old Road, Cheadle, SK8 2BP
What type of property is it?
Conversion of two office blocks into residential apartments
How many apartments are there?
107 across the two blocks. But block B is being retained. There are 74 units in Block A available for investors.
Who are the developers?
Xpercity, the building is being managed by Motif.
When did construction start?
August 2024
When is the anticipated completion?
June 2026
What is the longstop date?
1st September 2027
Who is the contractor?
Big Red - see www.wearebigred.com
Who is the architect?
DMBA London
What is the tenure of the leasehold?
999 years
Is there a building warranty?
Yes, 10 years, buildzone
Is there parking?
Yes, 1 parking space per property is included in the price
Is the parking in the title or just right to use?
Right to use
Are there any white goods/furniture included?
White goods are included and a furniture pack. Details in the assets.
How much is the service charge?
£2.80 psf
How much is the ground rent?
£0 / Peppercorn
How much is the reservation fee?
£2,500
How much is the deposit?
20% on exchange
When are the balances of funds paid?
The remaining 80% is paid on completion of the property
When is the project open for sale?
June 2025.
What are the stand-out units?
The apartments with terraces and the duplex apartments
Who is the owner of the freehold land?
Xpercity (LH) Ltd
Who is the management company?
Motif Management Ltd
Who is the vendor's solicitor?
Holden Smith - Luke Underhill <luke.underhill@holdensmith.co.uk>
Are the contracts re-assignable?
Yes, they are without any restrictions. Admin charge for the re-assignment has to be covered by the client.
Is STL allowed?
Yes- there is nothing in the lease that prohibits STL. The definition of permitted use does not contain the word “private”, which would have prevented short-term lets, and the underlet provisions of Schedule 4 allow for the property to be underlet on an AST basis or any other tenancy that does not afford security of tenure”; a short-term let would fall in to this category
How does the full deposit protection work?
The 20% exchange deposit for Weavers Yard is fully protected by a Guarantor. The 20% deposit is fully held as stakeholder until satisfactory information has been accepted by the solicitor acting for a buyer, for the deposit to then be held by the Seller’s Solicitors as "agent". The Guarantor has to provide information on their net worth and/or available capital that makes them a financially viable guarantor, as well as their previous track record as a guarantor. The Guarantor is outlined and named in the purchase contract, and the individual provides a Deed of Guarantee and Indemnity in order to guarantee the Deposit for a buyer. The Guarantor is defined as a person who is able to provide evidence of unencumbered funds to the aggregate value of the deposits required on all units on the site and confirm that this is the sole site and project which is being guaranteed. We do need to clarify that we can’t provide legal advice, but this will be clearly set out in a buyer's contract, and the solicitor will be able to explain it fully once a buyer enters into conveyance. This is one of the key strengths of the project.
Do all the GF units have gardens?
Yes. Outside space will be to the following spec. 1. Patio slab base 2. Box hedge border 3. Approx 2m deep and variable widths.