THERE are many more than a thousand apartments in the city of Manchester, so why should those at the Light House be any more interesting than the others? Three reasons: affordability, location and specification. Light House has been shoehorned into a tiny gap on Church Street, the edge of the funky Northern Quarter that joins up with major retail heaven. On one side is the Unicorn pub, proudly holding out against encroaching glass and steel, on the other, just a short walk away, Selfridges, Harvey Nichols and all the rest.

Less glamorous but equally necessary, the new food market in the Arndale Centre is also across the street from the Light House. So you should never be stuck for a loaf of bread. It is also within easy walking distance of Piccadilly and Victoria railway stations. There are only 18 car-parking spaces, although the local NCP operates a season ticket system. Eleven spaces are reserved for higher-value apartments and included in their prices; the remaining seven are available for £25,000.

Light House, left, comprises 169 apartments; 61 in the original Pall Mall House, and 108 in the new-build Light House addition, which peaks in a 20-storey glass tower soaring out of the two restored early 20th-century carpet warehouses.

The tower and the conversions were designed by Philip Thornton, of the Conran Group, which also worked with the developers on the interiors. The plan is for pulsating lights to run up and down the tower when darkness falls; they will shine out towards Piccadilly Gardens.

Pricing is more down-to-earth, from £290 to £340 per sq ft. For £167,000, there is a neat little 505 sq ft duplex apartment with a spiral staircase up to the bedroom. There is also an 1,800 sq ft three-bedroom, three-bathroom penthouse with a 700 sq ft terrace for £675,000. Unusually for a penthouse, it is all on one level, with a fantastic dual-aspect living room.

But what makes this scheme especially attractive is that you can invest as little as £15,625 for a 12.5 per cent share of an apartment. The developer, Stonehurst Estates, has sold 43 apartments in Pall Mall House to the housing association Assettrust Housing, to be purchased on a shared-ownership basis.

But this scheme isn’t simply altruistic. As Clive Lynton, the development director of Stonehurst Estates, points out, it wasn’t due to an obligation to fulfil any “affordable housing” criteria, but to get some proper residents to move in. He says: “I don’t want this to be a shell. I want people to live in the buildings we’ve built. If you go past places like No 1 Deansgate at night, there is hardly a light on.”

For all its restored marble carvings and steel-and-glass “look-at-me” tower, this £32 million development has the feel of an “all back to mine” place. With access straight off the street, with no fancy concierge, there is a friendly atmosphere not found in brasher city centre developments. There will be a caretaker, but having no concierge helps to keep the service charge low. It isn’t cheap’n’cheerful though: quality touches include Otis lifts, and a double-height glass entrance lobby in the new-build element.

The interior specification (see left) is the same throughout the housing association and the private apartments. Lynton calls it “classic”, which means dark walnut wooden floors, white walls, white doors and white kitchen units. A dishwasher, fridge-freezer and electric fan oven come as standard. But when will developers learn? Space might be tight for utilities, but washer/dryers are never as efficient as separate appliances. The bathrooms are Conran-spec “pods”, built off-site at an Italian factory and shipped into place. This means that the fit and the plumbing should be perfect. Lime-green tiles though, might not be to everyone’s taste.

There are other idiosyncratic touches. In the hallways, for example, there are pendant lights rather than down-lighters. This, Lynton explains, is so that people can personalise the space with their own lampshade, and also install low-energy light-bulbs if they wish.

Dividing screens between the living room and bedroom have become something of an apartment cliché. The honeycomb design of the Light House version – reportedly the same as the screens in the Prada shop in New York – brings a nice twist, as the light falls through in pretty patterns. Don’t expect fitted wardrobes in bedrooms, either. The room is yours to “customise”, presumably by persuading a wardrobe to fit into that Otis lift. If you’re desperate for storage, there is a limited amount of space available in the basement for a fee of £4,500. Living this close to the shops, you might need some.

Stonehurst Estates: 0161-833 9494 www.lighthousemanchester.co.uk

FACTFILE

Prices for apartments on Church Street are among the highest for the Northern Quarter in the city centre. According to the www.mouseprice.com, the average price on Church Street is £241,788.

The top prices for the area are on Luna Street, at an average of £252,739.

Church Street falls within the M4 postcode. Land Registry figures suggest that prices for apartments peaked here in 2001; in the October-December quarter of that year, the average price was £205,153. For October-December 2006, the average price was £154,921.

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