• English Cities Fund launches new residential project in Manchester

    3 June 2021

    (3 June 2021, Hong Kong) Novella is where contemporary living, city lights and the mighty River Irwell meet, comprising 211 new one- and two-bedroom luxury apartments offering striking design and quality first-class amenities in a landmark building rising 23 storeys overlooking Salford Central regeneration scheme, which is transforming over 50 acres of the city’s civic and historic centre into a vibrant new hub.

    Delivered by the English Cities Fund and designed by renowned architects Hawkins\Brown, Novella is the latest release in the destination address of New Bailey, a lively business, leisure and residential hub adjacent to Manchester’s financial, entertainment and shopping district of Spinningfields.

    A contemporary, flexible place to live, work and play

    Novella provides a 24/7 concierge and contemporary, flexible communal lounges offering comfortable seating complete with USB connections to create a relaxing space during the day for work or study. There are also two cosy bookable booths complete with power points, the ideal set up for working from home. By night the space transforms into a venue to socialise with friends or an exclusive private dining area for up to 12 people, perfect for special events.

    Keeping fit is made easy at the on-site residents’ gym and wellness suite overlooking the river. Managed by Motive8, the space is equipped with a range of weights and exercise machines, along with a fully-flexible space available for yoga and fitness events, complete with mirrored wall and an AV screen for on-demand fitness classes. There is also a secure and convenient storage space for bicycles and a post/parcel room.

    Each apartment comes fully equipped with the latest fittings, fixtures, mod-cons and digital connections, including Zanussi/AEG kitchen appliances, integrated Whirlpool fridge/freezer and washer/dryer, Tarkett hardwood timber flooring in the living areas and Mears Harrow carpets in the bedrooms, Decor 350 blackout roller blinds, and Space Pro integrated soft-close wardrobes, along with Freeview Digital TV, and Hyperoptic, Virgin Media and TV broadband outlets throughout.

    A vast array of businesses, eateries, culture and transport

    For those content with enjoying all that Manchester has to offer, the city centre with it vast array of shopping, dining and entertainment options is easily navigated by foot or bicycle from Novella, with centres including Chapel Street and Deansgate all within a few hundred metres. Spinningfields is easily reached via a new footbridge over the River Irwell and only a short walk away.

    Directly across the river is The Factory, a world-class cultural space currently being developed that is due to open at the end of 2022 which will provide a major training centre for those looking to embark on a career in the creative industry.

    Salford Central train station is within 0.5 miles and offers regular services across the North West. For fast and reliable local routes, St Peter’s Square Metrolink is 0.7 miles away and offers frequent services to Manchester Airport, MediaCityUK, The Trafford Centre and many other destinations.

    Within 1.5 miles, Manchester Piccadilly Station provides direct access to London in less than two hours, as well as fast trains to Birmingham, Edinburgh, Glasgow and many more UK cities. For international travel, Manchester International Airport is less than 20 minutes via the Metrolink.

    “Located moments away from the vibrant heart of Manchester and within a short walk of key transport hubs, shopping, dining and entertainment venues, Novella is beautifully blended into the existing fabric of this youthful, diverse and energetic city that is bursting with character and combines striking design with luxury amenity – 24/7 concierge & communal lounges, podium roof garden, residents’ gym and wellness suite, private dining room and live-work amenities,” said Mandy Wong, Head of International Residential at JLL in Hong Kong. Prices at Novella start from £189,950 (HKD 2.09 million)  for the luxury apartments.

    More Real Estate
    Chinese mainland and Hong Kong property market 2021 forecasts
    At a press conference held in Knight Frank Hong Kong office this afternoon, Thomas Lam, Executive Director, Head of Valuation & Advisory, Antonio Wu, Head of Capital Markets, Greater China, Patrick Mak, Executive Director, Head of Kowloon Office Services & Head of Tenant Representation, Greater China, Wendy Lau, Executive Director and Head of Hong Kong Office Services, Martin Wong, [...]
    Housing prices to stay firm amid new wave of migration
    (1 June 2021, Hong Kong) The latest wave of migration in Hong Kong is expected to have minimal impact on rising housing prices based on the price movement during the previous migration waves of the 1980s and 1990s, according to JLL’s Hong Kong Residential Sales Market Monitor, released today. Norry Lee, Senior Director of Projects Strategy and Consultancy Department at JLL in Hong Kong, [...]
    The longer-term prospects for Greater China hotel industry remain positive
    The COVID-19 pandemic has caused devastating disruption to the travel and hospitality industry across the world, leading to unprecedented economic and social consequences. In the face of the pandemic, most countries around the world imposed partial or complete border closures, with travel restrictions affecting the majority of the world’s population. China was the first country affected by [...]
    Global real estate investment proves resilient, yet uneven, in Q1 2021
    (25 May 2021, Hong Kong) Global real estate transaction volumes declined by 13% year-on-year in the first quarter of 2021. According to the recently published JLL (NYSE:JLL) Global Real Estate Perspective, first quarter transaction volumes totalled $187 billion, representing a resilient but uneven stage within the broader investment recovery. The first quarter volumes were bolstered by [...]
    Overall Grade-A office rents drop further in April
    (24 May 2021, Hong Kong) An overall net withdrawal of 99,400 sq ft was recorded in the Grade-A office market during April, according to JLL’s latest Hong Kong Property Market Monitor released today. The vacancy rate in Central rose to 7.5% as of end-April, with leasing activity mainly involving tenants moving within the submarket. Notably, China Life Franklin Asset Management reportedly [...]
    Asia Pacific Commercial Property Market Recovery Continues in First Quarter as Key Markets Rebound – RCA
    (10 May 2021, Singapore) The recovery in Asia Pacific commercial real estate investment activity gained pace across multiple markets in the first quarter of 2021, the latest Asia Pacific Capital Trends report from Real Capital Analytics showed. This follows from the final quarter of 2020 that proved to be a record quarter for many markets in the region. For Q1 2021, investment activity across [...]
    At least 100 outdated buildings in Hong Kong are at risk of losing value
    (4 May 2021, Hong Kong) JLL (NYSE:JLL) estimates at least 100 office buildings in Hong Kong are in need of significant upgrading to remain relevant and attractive to their tenants. The situation is similar in Asia Pacific as half of investment properties in prime locations are over 20 years old. It leads the real estate firm to forecast that there is over US$40 billion worth of unrealised [...]
    Companies with better performance grab expansion opportunity in downbeat market
    Knight Frank launches the latest Hong Kong Monthly Report. In the office market, Grade-A office rents on Hong Kong Island continued their slight downward trend. Some companies with better performance are actively looking for expansion options with lower rental costs, though with longer-term lease commitments. In Kowloon, leasing demand has been reactivated amid improved business sentiment. In [...]
    Asia Pacific real estate investment volumes down 23% quarter-on-quarter
    (21 April 2021, Hong Kong) Asia Pacific’s commercial real estate sector recorded over US$34 billion in direct investments in the first quarter of 2021, a decline of less than 1% year-on-year, says JLL (NYSE: JLL). According to the firm’s Capital Tracker report, investment volumes decreased 23% compared to the fourth quarter of 2020, but outperformed the other two regions – North [...]