Affinity Living Riverview will feature modern and spacious kitchens. (Photo: Select Property Group)
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Select Property Group is set to launch its latest UK development with an evening cocktail reception at its office in CapitaGreen.
One of the UK’s leading property developers is set to launch its latest project in Singapore – a project that represents a £50 billion investment opportunity.
Select Property Group will hold an evening cocktail reception at its office in CapitaGreen to mark the launch of Affinity Living Riverview, a 318-unit residential development that, at 35 storeys high, will become one of the tallest buildings on the skyline of Manchester, the UK’s number one investment city.
Britain is currently undergoing a property revolution. Once a nation renowned for its obsession with homeownership, owner-occupation levels are falling and are now at their lowest level for 30 years.
Meanwhile, demand for rented accommodation has increased by 17,500 each month for the last decade. With 20 million tenants, the private rental sector is now at a record size, and projections outline that a further 1.8 million households will become private renters over the next 10 years.
Driving this change are Generation Y (Gen Y) British workers who no longer equate ownership with success. A generation that streams movies on services like Netflix and music on Spotify has already changed those industries, and they’re now changing the property market in the UK, too. Almost 60 percent of 20- to 39-year-olds will be privately renting by 2025.
But while demand rises and tenants’ needs evolve, supply of rental property remains low and, crucially, outdated. Traditional rental homes were fine for a previous generation that simply rented to fill the void until they became owner-occupiers, but today’s tenant demands purpose-built rental homes. Homes that incorporate modern design, the best facilities and the highest standards of management and maintenance.
This is why Select Property Group has launched Affinity Living, a new residential property brand.
Knight Frank estimates that the build-to-rent sector, property designed for the rental market and managed by professional management teams, will be worth £50 billion by 2020. Yet currently, there is scarcely enough supply in key cities to meet the rising demand for this type of property. In Manchester for example, home of the UK’s highest yields, there is a demand for 4,000 new build-to-rent units each year, but just 1,417 each year are set for delivery over the next eight years.
Affinity Living Riverview will revolutionise the rental market in Manchester. Located close to the city’s central business and retail districts, it’s a development made for Gen Y. Apartments furnished to maximise rental appeal, live / work lounges, movie and private dining rooms, plus a whole host of other exclusive facilities that will drive tenancies.
Select Property Group has a proven track record of creating successful property brands. The group’s first brand, Vita Student, has become the market-leader in the £200 billion student accommodation market in just five years. By focusing on the end-user, putting them at the heart of everything and giving them award-winning levels of service and care, Vita Student now boasts a rebooking rate 60 percent above the industry average and commands rental premiums 25 to 40 percent higher than competitors. Through Affinity Living, this successful approach will now be applied to the residential market.
To celebrate the unveiling of Affinity Living Riverview, Select Property Group will be holding an evening cocktail reception on Thursday (29 September) at the group’s Singapore office in CapitaGreen, 138 Market Street from 7pm.
The evening will provide Singapore-based property investors with an opportunity to hear exclusive details about the investment, and why now is the most opportune moment to enter this sector of the UK market.
Spaces are limited. For more information and to book your place at the event, please register here: bit.ly/PGAffinity
Permit number 16/67780/FULEIA, issued by the Salford City Council. All forms of investment carry risks, including the risk of losing all the invested amount. Such activities may not be suitable for everyone. This is an overseas investment. As overseas investments carry additional financial, regulatory and legal risks, investors are advised to do the necessary checks and research on the investment beforehand.