Regeneration of Grade II Listed mill into Help to Buy apartments underway in Leigh
A £13m regeneration project to turn an old cotton mill along the north bank of the Bridgewater Canal in Leigh town centre into 98 luxury, loft-style apartments – which are available under the Help to Buy scheme – is underway.
Built in 1882, the Grade II Listed, six-storey mill on Mather Lane, has stood empty for 20 years. Now, J P McGuire Developments is converting it into one, two and three-bedroom apartments, complete with large reception area, gymnasium, secure parking and bicycle storage. The exclusive gated development will also have a private cinema and large dining room that residents can hire.
All apartments boast high ceilings and generous floor plans, with one-bedroom apartments covering up to 74² and the biggest apartment covering 165m². The apartments benefit from large windows with views towards Manchester city centre, Rivington Pike or the Peak District, and some include private balconies. All have original features and high-quality fit outs. Prices start at £78,000 for a one-bedroom apartment.
And if first-time buyers take advantage of Help to Buy, it could work out cheaper to own an apartment in Greater Manchester than rent.
As an example, one of the two-bedroom apartments in Loom Wharf is just under £105,000. If you take advantage of the Help to Buy scheme, you’d only need a deposit of around £5,250 – which would be topped up with a 20% Help to Buy Equity Loan of approximately £21,000. Considering the average two-bedroom apartment costs £450 to rent a month in Leigh, or £800 a month in Manchester city centre, people could well find they make considerable savings on their monthly outgoings.
Jonathan Twentyman, MD of JP McGuire Developments, grew up in Leigh and has built his business – electrical contractor, Genlec – in the town centre. He said: “My goal with Loom Wharf is to bring luxury, loft-style living at an affordable price to people in Greater Manchester. These apartments are large and airy, with tall ceilings and big windows. Plus, they’re kitted out to the highest spec with the very best in insulation, noise reduction and indoor air quality. When you compare the space and quality you get for the price compared to other options in the city centre, we hope many first-time buyers will see this as an attractive option.”
The Loom Wharf showrooms will be complete in August 2019. For more information visit: www.loomwharf.co.uk