Win A Luxury Manchester Apartment - Home Winner

Elite Competitions return with another property prize draw. This time round they're offering the chance to win a luxury Manchester City apartment worth £350,000. The ticket price is reasonable at just £4.99 plus this prize draw includes instant win prizes. These insta prizes include 5 x £10,000 and 5 x £5000.

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After another successful property prize draw, Elite Competitions have been quick to jump straight back in - maybe to capitalise on festive goodwill or potential Secret Santa gift ideas - with another one. This time round they've moved to Manchester to offer a luxury city centre apartment. The apartment is located in the Meadowside area which is described on Elite's social media as "a £235 million masterpiece in the heart of Manchester". The Gate website describes the location as "ultra-sleek urban homes with stunning views over Manchester’s largest green space and the city beyond". The same website inidcates that there are a number of apartments still for sale at The Gate and they range in price from £370,000 to £400,000.

The Property

The property on offer is a two bedroom apartment that's located on the 12th floor of The Gate. Inside you'll find two bathrooms, a fully fitted kitchen and fully integrated wardrobes. All furnishings that are shown in the images on Elite are included in the prize package so the apartment is ready to move into or rent out. A concierge is on hand 24 hours a day plus residents have access to a quality gym and yoga space plus a lounge area. The Gate is dog friendly too which is great as some apartments don't allow pets. Elite Competitions will cover all fees and stamp duty on the property plus they will pay for one year service charge which is circa £3000 per year. Ground rent is currently £225 a year. If you're looking to rent out the apartment (should you win) then you could potentially realise an income of £1000 per month.

How To Enter The Competition

To enter the prize draw for the chance to win this apartment in Manchester you simply need to purchase your tickets from Elite. There aren't any questions to answer but you will need to register. Tickets can be purchased as singles and it seems the max you can purchase is 200 (although you can have 10,000 tickets in the draw!). Payments can be made using PayPal, Visa, MasterCard and Apple Pay. As always it might be discount codes and/or chances to win tickets on Elite Competitions' social media pages so do check. There is a free entry route offered for entrants who wish to take that option. Entry is via postcard and details about how to complete your entry are given on the website. Only one Postal Entry is permitted per prize draw for each registered account. Postal Entries are limited to one entry per person to each draw.

199,975 Tickets

Elite Competitions aim to sell a maximum of 199975 tickets at £4.99 (total revenue of just under £1million) in just a few weeks with the draw concluding at the end of December 2023. The ticket price is reasonable although it'll be interesting to see if Elite sell out. With such a high ticket target they can guarantee the property will be won at around 25-30% sales. At time of writing just under 3500 tickets had been sold so there's a long way to go. Again this is a little bit slower in terms of uptake than recent property prize draws. As far as we know there are no charity donations planned for this particular prize draw and the property will be awarded regardless. Their FAQ states that the "draw will always go ahead regardless of the ticket sales".

Our Verdict

It's good to see that Elite will pay the service charge for the first year but the apartment doesn't strike us as a good rental option. This probably won't matter to entrants especially as the property prize is guaranteed plus of course there's a whole bunch of instant win prizes available. If we won this one then we'd probably take the £250,000 cash alternative (thanks to users who pointed out that we'd missed this bit). The alternative is take the apartment and look to sell for lower than market value and end up with a decent cash sum in the bank (minus the headaches of going through a property sale and maybe capital gains payments). A similar property is on sale currently at £327K and has recently been reduced so the cash sum is definitely the best option! One other point worthy of mention is the maximum 10,000 tickets someone can purchase. Whilst we don't think anyone would buy this many it's this kind of thing that makes us wonder how long will it be before UKGC steps in and licences raffle sites in the same was as casino, bingo and sportsbook. Enter Competition Here

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Disclaimer: Details shown above were correct at time of writing and are provided for information purposes only. Images are used under fair use policy. Map location is approximated by Google based on postcode/location info. Any links provided are not an endorsement from Loquax. In some cases Loquax may earn a referral fee from sales this does not effect our review. We strongly advise all visitors do due diligence on each contest before deciding to enter. Terms and conditions apply. Begambleaware.org.

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