City council makes property investment move

A UK city council has been given £6.53 million to invest in transforming an empty tower block into a state of the art housing complex.

Manchester City Council has been awarded the cash by the Department of Health to develop existing council-owned tower block Whitebeck Court into 92 apartments for elderly people.

Around 40 per cent of the units will be offered up for sale to individual private buyers, although all purchases must be made by property investors over 50.

The council submitted one of 25 successful bids to the department’s ‘Extra Care Fund’ and was awarded the second largest allocation of funding in the country.

Councillor Basil Curley, executive member for adult social care, said: “This investment will allow the block to become a fantastic place for older people to live. It will give them the freedom to be independent while having top quality facilities to enjoy – the block will also become a hub for other people in the local community.”

Highlights of the plan include a rooftop jacuzzi and a roof sky lounge, surrounded by glass and giving fantastic views across Manchester.

The city council is working with Northwards Housing and Great Places Housing Group to get started on the works in Spring next year.

Robin Lawler, chief executive of Northwards Housing, said he was “delighted” the firm was being involved in the project.

Related posts:

  1. 'Safest' US city makes property investors stock rise
  2. Federal Reserve move – great news for property investment
  3. US Singleton city offers property investment opportunity
  4. Bahrain city development is unveiled
  5. Speedy progress at Dubai investment property tower

This entry was posted in UK and tagged , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>