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Deansgate Sq - Buyers (or not buyers) remorse?


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I just wondered if anyone on here ended up buying one of the Deansgate Sq developments that went live this week? I was quite taken with the sales pitch but sadly had left it all too late to really think about how i'd get the cash together. Keep kicking myself that Ive missed something special. I just wanted to gauge thoughts from other people that were interested in it. Did you buy and if not, why not? Im sure R+R would appreciate some healthy discussion on their flagship development for Property Hub Invest.

Having been working around where the development is being built for the last weeks, there is a lot of building going on and it feels quite exciting. Perhaps this means that despite missing out on Deansgate, there will be other opportunities with developments popping up nearby, that might even benefit from the proximity to Deansgate Square

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Hi,

Taking into account the following factors, it was for me a fantastic deal and IMO a “golden ticket” purchase if bought at the launch: the ultra prime nature and uniqueness of development, the fact that the prices were set in the spring of last year and remained fixed even though Manchester prices have moved on since then, the discount level itself  based on attractive list prices compared with other developments , location (Manchester as growth location and prime city centre location within Manchester), rentability etc

That said, because this was an off plan purchase, I would still expect some form of discount to apply relative to the prices of other comparable properties which are already in existence.

Another key factor for me was the fact that Legal & General’s build to rent fund had purchased one of the four towers in its entirety – It has to be assumed that L &G undertook significant due diligence on the development before concluding it was a ‘good ‘un’. 

As Rob mentioned in the launch webinar, buying from the developer direct (when sales are launched  to the public later this year) even at list price may still represent a good purchase for some people if the development fits in with their objectives and after satisfying themselves on the research etc

 I’ve seen some information on one of the new skyscrapers to be built near to deansgate square, but as far as I can see, the level of services/spec is not at the same level as Deansgate square by some distance,  but as you say, may benefit from proximity to it  and it looks like other skyscrapers could be added to the same area as part of the Manchester southern gateway redevelopment.

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