MCCAUL Developments has made its first move into the Manchester city centre market with the unveiling of a prestigious housing development – The Point – at the New Islington regeneration scheme.

The family-owned business, based in Astley, has revealed that phase one of the development, which includes 23 apartments and 12 canal houses, will be ready for release next month.

McCauls recently received planning permission for phase two of the £16 million scheme, involving a further 81 units, and has further development plans for in and around Manchester and the north west.

Prices for The Point apartments start from £110,000 for a one-bedroom apartment, and McCauls has secured approval for the Government-backed Help to Buy scheme.

Prospective buyers may be eligible to apply for the scheme, which enables first-time buyers and existing homeowners to buy a property with a five per cent deposit and up to a 20 per cent equity loan.

McCauls bought The Point from Urban Splash in 2012.

Sean McCaul, director at McCauls, said: “The development will provide contemporary and high spec homes in what is quickly becoming one of the most distinctive and diverse neighbourhoods in Manchester.

“We are delighted to have received Help to Buy approval for The Point. The new Government scheme offers an excellent incentive for people to get onto and move up the property ladder.”

New Islington is in a stunning waterside location, which will appeal to young professionals, couples and families looking for a village-like community close to the city centre.

Tony McCaul, also a director at McCauls said: “New Islington is finally coming of age with the new school opening in September, the opening of cotton fields park and marina, the new bridge and the exciting redevelopment of the Central Retail Park in Great Ancoats Street which is a major shopping and cinema complex.”

Ged McPartin, co-owner of Curtis & Bains, the sales and letting agents managing the selling of The Point apartments, said: “The Point strives to bring village life to urban living. This development has been highly anticipated in and around Manchester, which is reflected in the high level of sales before the development is even complete.”