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The biggest Cinderella story of them all is New Broughton, with a £500 million regeneration scheme revitalising a, frankly, horrible slice of Salford, Greater Manchester.
In 2006 Salford City Council and Countryside Properties launched a 185-acre redevelopment (www.newbroughtonliving.com), which Hogg said had led to a “massive turnaround”.
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A two-bedroom flat in Manchester’s city centre costs about £225,000 and penthouses go for £650,000. New Broughton is a 15-minute walk from Selfridges, but prices are dramatically lower: three-bed townhouses go for £140,000 or a 70 per cent share in a two-bedroom flat for less than £60,000. “It is a radically different place,” Hogg says.
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