London-based Delph Property group has acquired two new developments: a 15-storey apartment building in Manchester city center (pictured) and six-storey building in Liverpool. These developments will further expand Delph’s PRS portfolio, which is already the largest privately owned portfolio of its kind. The Manchester site, purchased for around £25m, comes with full planning consent for 146 residential apartments. This will comprise 48 one-bedroom, 95 two-bedroom and three three-bedroom apartments together with ground floor commercial space suitable for a variety of uses, as well as 53 underground parking spaces and a communal garden.
The development, acquired from Fortis, is located in Manchester’s Green Quarter moments from Victoria Station and a short walk from all of the city’s retail and leisure facilities. The Liverpool development was purchased for £9.6m and until recently was used as offices. The building has full planning permissions for 71 apartments – comprising eight studios, 15 one-bedroom, 45 two-bedroom and three three-bedroom apartments.
Howard Crocker, managing director of Delph Property Group said: “These acquisitions, which are located in two of the great cities at the heart of the northern powerhouse revolution, will make a great addition to our ever expanding portfolio. city centre apartments are increasingly attractive to young professionals and there is a growing demand for good quality, high specification rental properties of the type we will be providing at these exciting developments.”