It was fantastic to celebrate the official opening of X1 Cheltenham Place Phase 1 introducing state-of-the-art, self-contained studio apartments.
This development reinforces our commitment to raising the standards of student accommodation across the North West and is the 12th student development in the X1 portfolio.
The opening ceremony welcomed key stakeholders instrumental in delivering the project, including Bridgestone, Savills, Together Finance, and Knight Knox.
During the event, Nick Sweeney, Chief Executive of X1, highlighted the impact of X1 Cheltenham Place on the student community.
Reflecting on past challenges in student accommodation, he emphasized how developments like this play a vital role in shaping Salford’s future. With modern amenities, a prime location, and high-quality living spaces, Cheltenham Place sets a new benchmark for student housing in the region.
Phase 1 of Cheltenham Place features 353 fully furnished apartments near the University of Salford’s Frederick Road campus, offering excellent transport links and accessibility for students and professionals alike.
Since opening, X1 has achieved a 60% occupancy rate, underscoring the strong demand for rental accommodation in Manchester and are on track to be at 100% occupancy within 3 weeks.
Launched for off-plan sales in 2022, Phase 1 sold out before completion. Now, just three years later, over 300 investors are benefiting from their strategic investment with X1, securing a 7% NET return for the next 10 years.