Select Property’s community focused residential brand, Affinity Living, saw a record year for occupancy across its four central Manchester residences in 2023, which highlights the tight supply of accommodation in the city centre.
Pet-friendly apartments in the heart of Manchester, Riverside, Riverview, Exchange Point and Laurence Place, recorded an average occupancy rate of 97% last year – with almost all apartments taken up by residents – as demand for premium rental accommodation remained strong throughout the year.
Affinity Living expects occupancy at the Riverside complex to be buoyed further this year with the opening of a new restaurant within the residence. Ottoman Bar & Grill will open imminently after a £500,000 fit-out.
Affinity Living is also targeting high occupancy at the Lancaster Wharf residence under construction in Birmingham – the fifth building and first scheme outside Manchester. The scheme, which will open in autumn 2025, is backed by a £44m development finance loan from Close Brothers and recently completed construction of its core.
Communal spaces at Affinity Living properties include lounge areas, co-working space, resident gyms, cinema snugs, and leafy terraces. There are also free events and activities taking place for residents on a weekly basis, with the company also having one of Manchester’s most welcoming pet policies.
Select Property’s CEO, Adam Price, said:
“Demand for premium city centre living remains remarkably strong in Manchester as the city’s culture, warm employment market economy and bustling food and drink scene continues to draw in young professional talent from across the UK and overseas.
“A record occupancy rate reflects the strong proposition we’ve created at Affinity Living – focused on building and nurturing resident communities through exclusive events, communal lounges and inspiring co-working spaces.
“Our winning people-centric formula is popular with residents and investors alike, with our upcoming Lancaster Wharf residence already sold out ahead of schedule.”
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