There’s no denying Manchester’s appeal – from an enviable restaurant and café culture to a thriving nightlife scene, it’s no wonder the bustling northern city was revealed as the 2025 first time buyer capital of England.
Helping more buyers take their first step onto the property ladder is L&Q at Victoria Riverside. This collection one-and two-bedroom Shared Ownership apartments is set in the city’s up-and-coming Red Bank neighbourhood, with deposits starting from just £6,188 for a one bedroom apartment.
One of Manchester’s most exciting regeneration areas, Red Bank is set to transform over the next decade, becoming a thriving community on the edge of Manchester’s city centre. The homes at L&Q at Victoria Riverside will be ready to move into early 2026, with reservations currently being taken on selected apartments, and will offer a resident-only co-working space, podium garden, gym and concierge service.
The 18-storey building boasts 128 Shared Ownership homes and the first phase of Victoria North, the North of England’s biggest urban regeneration project, with new schools, healthcare facilities and transport links set to transform the 155-hectare site. Developed by FEC and Manchester City Council, over the next fifteen years the £4bn Victoria North project will comprise over 15,000 new homes spanning seven new and existing neighbourhoods.
Claire Brenlund, Sales & Marketing Director at L&Q comments: “Helping to develop a brand-new community on the fringes of Manchester city centre is about as exciting as it gets. There is so much planned for the Red Bank neighbourhood and wider Victoria North regeneration, and we’re thrilled to be launching Shared Ownership homes at the very start of the vision.”
Shared Ownership is a Government-backed scheme aiming to provide an alternative route to homeownership across the UK, helping house hunters find a home that meets their affordability needs. Available to any eligible buyer who does not own a home, not just for first time buyers, buyers can purchase a share of their new home, starting from 25%, paying a mortgage on the part they own and monthly rent on the portion of the home they don’t. As and when shared owners can afford to do so, they can purchase more shares through a process called ‘staircasing’, with the possibility of eventually owning 100% of their home.
Residents of L&Q at Victoria Riverside will benefit from strong public transport links nearby including Victoria train station and the Shudehill Interchange, both a short walk away – allowing residents to travel across the city with ease. For those travelling across the country, Manchester Victoria Station is just a ten-minute walk away, with frequent trains to Manchester Airport, Chester and Liverpool, to name a few.
Being positioned at the doorstep of the city centre means easy access to all the amenities Manchester has to offer, including Arndale Shopping Centre, with over 200 stores spread over two levels – the biggest inner-city shopping centre in the country. As well as chain stores, there is an array of independent stores nearby, such as the Arndale Food Market to plenty of food, clothes, books, and lifestyle shops. Residents will also enjoy Red Bank’s emerging status as a hub for retail, dining and beverages, featuring a wide array of popular restaurants, bars, and local micro-producers including Michelin Guide-listed The Spärrows restaurant.
Prices for a one bedroom Shared Ownership apartment at L&Q at Victoria Riverside start from £61,875 for a 25% share (Full Market Value: £247,500). For more information, please visit: https://lqhomes.com/victoriariverside/
First Time Buyer is an exciting bi-monthly glossy which takes a stylish and comprehensive look at all the options available, setting them out in an entertaining and informative way, and helping potential customers navigate their way through what is often a daunting and complex process. We dispel the myths, reinforce the facts and arm the reader with the tools necessary to make their homeownership dreams a reality.
