# **Major Manchester Built-To-Rent Scheme by L&G Selling for £110m**
**Manchester’s Rental Market Booming**
The £110 million sale of a major build-to-rent scheme in Manchester reflects the city's thriving rental market and the resilience of the built-to-rent sector. The scheme, known as ‘Affinity Living’, comprises 324 apartments across two towers and is located in the sought-after Piccadilly East district. The sale, which was brokered by real estate advisor CBRE, highlights the growing demand for high-quality rental properties in Manchester. The city has seen a surge in population and economic growth in recent years, attracting both young professionals and families seeking modern and convenient living options.
**Built-to-Rent Sector on the Rise**
The built-to-rent sector has emerged as a significant force in the UK property market, offering professionally managed, high-quality rental accommodation. Unlike traditional buy-to-let investments, built-to-rent properties are designed and built specifically for the rental market, providing tenants with a range of amenities and services. The sector's growth has been driven by several factors, including the increasing demand for flexible and hassle-free rental options, the rising cost of homeownership, and the government's support for the private rented sector. - The sale of Affinity Living is a testament to the strength of the built-to-rent market and its growing appeal to investors. The scheme's prime location, high-quality design, and extensive amenities make it an attractive proposition for both tenants and investors seeking long-term, stable returns.
**Positive Outlook for Manchester Rental Market**
The sale of Affinity Living also reflects the positive outlook for Manchester's rental market. The city's strong economy, thriving employment market, and major infrastructure projects continue to attract new residents, boosting demand for rental properties. - According to a recent report by Savills, Manchester's rental market is expected to remain robust in the coming years, with rental values projected to rise by 2.5% per annum over the next five years. The city's growing population and limited supply of rental properties are likely to continue to drive rental growth.
**Conclusion**
The £110 million sale of Affinity Living is a significant milestone for Manchester's built-to-rent sector and the wider rental market. The scheme's success reflects the growing demand for high-quality rental properties in the city and the resilience of the built-to-rent sector. As Manchester continues to attract new residents and businesses, the outlook for the rental market remains positive, offering opportunities for both tenants and investors
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