Delph Property invests £35 million in PRS

Delph Property has acquired two developments across Manchester and Liverpool July 6, 2016 / Isla MacFarlane
Delph Property invests £35 million in PRS

The first development is a 15 storey apartment building in Manchester city centre and the second is a 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 circa £25 million, comes with full planning consent for 146 residential apartments. The development was acquired from Fortis and is located near Victoria Station.

The Liverpool-based development was purchased for £9.6 million and, until recently, was used as offices. The building has full planning permission for 71 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.”

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