Manchester itself is undergoing massive development in the city centre. Savvy investors are looking to take advantage of a robust local economy and increased demand. But what else is available close by?
The Heaton Group are currently planning a 15-apartment redevelopment of a disused building in the heart of Stretford. Close to the City centre (2 tram stops), The Heaton Group have identified this as a huge growth area due to the proximity to the city centre and the demand due to the difficulty in obtaining apartments directly in the city centre. There is also a number of local amenities such as Stretford food hall (below).
Close to the Manchester United Football stadium, these apartments will signify The Heaton Groups continued investment into Manchester, providing investors with high yield properties that are built to high specifications while also attracting demand from young professionals who are looking to take advantage of a booming jobs economy and increase the quality of living in the area. We have had several enquiries already about this development, we’re currently putting together our initial release, but for more information or to be added to the exclusive information list, contact us on the email address below.
For some time now, Didsbury has been a highly desirable area for young professionals. Seen as slightly more upmarket than Chorlton to live, there are some fantastic Victorian houses in areas of Didsbury with some great bars and parks. There are several high-quality HMO’s in the area, taking advantage of the popularity of this development type. Still, recent popularity has caused property values to soar past the point of being as economically viable as an investment for rental yield. So while this is an area with high demand, property values have increased almost too much for investment to yield strong returns.
Young professionals within this area are usually happy with rent increases. However, other locales are “new” and upcoming that provide a lower quality of life in the interim while developed, however, the price difference between paying £895 for a one-bedroom room in a HMO could be the same rent for a much larger two-bedroom apartment in another local suburb.
Another area that has seen significant growth in property value, the transformation of this area near Manchester is almost miraculous. Twenty years ago, it was an area that people would avoid for both investment and to live. Now, it has a booming property market with prices increasing by almost 50% in the last ten years alone. With new amenities and with businesses looking to reduce their costs of having offices in the city centre, Altrincham is experiencing a period of growth.
There is a limitation; Altrincham isn’t easy to get to, it is slightly out of the way and while the proximity to Manchester is close - links from around the UK aren’t great as in most cases you’d have to go into Manchester regardless. Living in Altrincham makes for a problematic commute into Manchester too, taking almost 40 minutes in some examples by train and nearly 30 minutes by car with no traffic. This means that areas further away by total distance, but with more direct links are more desirable. For example, it would take 20 minutes to travel by car/train to Manchester from Warrington, where yields would be significantly higher for investment.
Manchester city centre has an undoubted saturation when it comes to property development. Demand is outpacing supply, and as such, it is creating opportunities for highly desirable apartments just outside the city. Johnsons Square showed that there is a genuine desire for young professionals to live nearby still and that investors can take advantage of high yields due to the popularity of the area. Our Stretford Development will likely sell out very quickly – for more information, please contact us on firstname.lastname@example.org or call us on 01942 251945