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Manchester Leading the way in Property Investment.....

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Three 12 storey blocks, once known as Chippenham, Saltford and Rodney Court, have been empty for over 15 years but are soon to be launched collectively as ‘Tribe’

Tribe apartments

Almost 200 boutique apartments will be built following the renovation of three buildings in east Manchester’s Ancoats and New Islington districts.

The three 12 storey blocks, formerly known as Chippenham, Saltford and Rodney Court, have been empty for over 15 years but are soon to be launched collectively as ‘Tribe’.

When ready there will be 192 spacious one and two bedroom boutique-style apartments available for private rent.

Bosses behind the scheme said Tribe has been inspired by the slick European and US style of residential block managed apartments in New York and Paris.

The Homes and Communities Agency (HCA) has thrown £7.9m at the project, through a Build To Rent loan.

Manchester council, Tribe Apartments Limited and Rowlinson Constructions, are also involved in Tribe along with Manchester-based architects, Pozzoni.

Nigel Rawlings, of Tribe Apartments Limited, said: “Our aim is to elevate and set the bar in the private rent market in Manchester.

“Renting in many other European cities and US cities is a positive, desirable lifestyle choice, because for years the service offering has been top-notch.”

He added: “Tribe customers will enjoy high quality homes, offering as standard many desirable high-end design features which you’d normally associate with much pricier, luxury apartments. Our aim is to deliver a friendly, hassle-free and reliable service, which makes life easier for our customers.

“From the first viewing, right through to signing your contract and moving in, our dedicated management team will be on hand to make life as easy and simple as possible. There will be no small print or unpleasant surprises after you’ve moved in. What you see is what you’ll get. And what you’ll get will be fantastic.”

Ancoats, Manchester, continues to be transformed

Build to Rent offers finance for private rent schemes which meet the need for good quality, large-scale developments in the private rent sector.

The remaining funds for Tribe were secured through institutional investments managed by Cabot Square Capital.

Keith Maddin, of Cabot Square Capital added: “We’re delighted to be involved in what is a first of its kind Build To Rent residential project in Manchester.

“Tribe is an important part of the wider regeneration of the whole area, which will help create better communities, jobs and greater affluence for local people.

“We believe this model will provide a blueprint for the future of private renting in the UK.”

Marie Hodgson, Head of Area for Greater Manchester at the HCA, said: “The burgeoning city fringe has become one of the most exciting and fastest growing areas of Manchester in recent years, and is a key location in the context of the HCA and Manchester City Council’s Manchester Place initiative.

“The transformation of the Tribe buildings marks the next major step for the area’s residential growth, providing workers, young families and graduates, among others, a vibrant, affordable place to rent on the doorstep of the city centre.”

Bosses behind the project said all 192 apartments are owned by a single landlord, and managed in partnership with one management company Plumlife.

Rents will range from £500 – £725 pcm for a one bedroom apartment. Two bedroom apartments will start from £725 – £900 pcm.

The £1bn scheme would create 5,000 jobs through building plush homes and business space near to the Trafford Centre


Bosses of a planned £1bn development say locals have reacted positively to their vision.

The M.E.N. told how Peel Land & Property wanted to create the Trafford Waters scheme on the banks of the Manchester Ship Canal, in a move it is hoped will create 5,000 jobs.

Readers expressed concerns about heightened traffic congestion and the suitability of the planned homes for families.

But Peel has dubbed a public exhibition to showcase the vision, at the Venus Building, off Trafford Boulevard, a success, with 169 people having turned out.

James Whittaker, development director at Peel Land & Property, said: “We are delighted that so many people took the time to learn about our plans for Trafford Waters, and that many of them share our enthusiasm for the scheme.

“We were pleased to have the opportunity to explain our vision for providing high-density urban living, including for families, in an attractive setting with lots of green space,

something not currently available in Greater Manchester.

“We will now be carefully reviewing the feedback to ensure that our planning application addresses any points people have raised.”

Trafford Waters will combine up to 3,000 apartments with around 875,000 sq ft of business space, including offices, small-scale retail, leisure and community uses.

Green corridors and waterways would throughout the site, which is next to the intu Trafford Centre and Trafford Leisure Village

It would be linked to the mall by a green bridge, according to Peel.

A planning application will be submitted to Trafford council shortly and it is expected to be determined in the summer.

More information can be found by visiting or by calling the Freephone project information line on 0800 298 7040.

Chancellor George Osborne has announced that mortgage interest tax relief for buy-to-let homebuyers are to be restricted to basic rate of income tax, currently 20 per cent.

He says the measure, which will address “unfairnesses in property taxation”, will be phased out “gradually” from 2017.

“Buy-to-let landlords have a huge advantage in the market as they can offset their mortgage interest payments against their income, whereas homebuyers cannot. And the better-off the landlord, the more tax relief they get. For the wealthiest, every pound of mortgage interest costs they incur, they get 45p back from the taxpayer” Osborne told MPs.

“All this has contributed to the rapid growth in buy-to-let properties, which now account for over 15 per cent of new mortgages, something the Bank of England warned us last week could pose a risk to our financial stability. So we will act – but we will act in a proportionate and gradual way, because I know that many hardworking people who’ve saved and invested in property depend on the rental income they get” he said.

This is only one of a number of property-related measures introduced by Osborne in the Budget, but undoubtedly the most controversial.

“This a major blow to a sector that is heavily reliant on private investors and who provide a crucial supply of property to the private rental sector” says Nick Leeming, chief executive of Jackson Stops & Staff.

“We were disappointed to hear of the reduction in tax breaks for buy to let investors as this will discourage new landlords from entering the sector and will result in a lack of stock. This will inevitably lead to higher rents as at the end of the day landlords are business people and will need to compensate for this” says Glynis Frew, managing director of Hunters Property Group.

However, some market analysts feared worse. “There had been fears among landlords that relief on mortgage interest payments for buy-to-let landlords would be completely abolished so while the changes will hit higher-rate taxpayers – retaining mortgage interest relief but restricting it to basic rate tax – it is not as bad as it might have been” says Adrian Anderson of property finance specialists Anderson Harris.

Short-lets – including by those undertaken by Airbnb-style amateur landlords – received a boost because the Chancellor also announced that after 18 years the Rent-A-Room tax-free earnings limit would rise from £4,250 to £7,500 per year.

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