Being local to Bolton and developing properties throughout the North West – this week we’re putting the spotlight on Bolton and the recent investment into the area. Bolton is fast becoming a property hotspot, here are some reasons to think about this amazing, quaint area as your next investment.
Situated just outside Manchester, it’s a short 15 – 20-minute train journey to Manchester. Whether buying to live or buy to let, you can be assured that you’re close enough to Manchester to easily access the city quickly. Bolton is also ideally situated in the middle of the “Northern Powerhouse” given it’s proximity to Wigan, Bury, Manchester, Stockport, Preston, Blackburn and Leeds. Home to some absolutely incredible architecture such as Firwood Fold (a 16th Century House) and the “University of Bolton” Stadium (formerly Reebok/Macron Stadium), and the 14th Century “Smithills Hall” which is now a museum and the Victorian Queens Park - it’s beautiful and picturesque from the outset too.
As stated above, the town of Bolton is close enough to all the major Universities of Manchester, while also having a fantastic one of its own with over 25,000 students attending from all over the world each year. The University of Bolton is a Silver rated “Teaching Intensive, Research Informed” university, highlighting it’s exciting and challenging student experience. They are also investing £125million in cutting edge technologies and infrastructure with brand new, state of the art educational and recreational facilities.
Ongoing rejuvenation and investment
There are multiple rejuvenation projects ongoing and huge amounts of investment into the area. Church Wharf will provide a new riverside neighbourhood in the heart of Bolton town centre.
Trinity Quarter is part of a £50m transport interchange development with a skylink bridge. There is also a £6.5m five story grade A office development. Within Trinity quarter there is also a proposed 20 story high tower to be built alongside a 500-space car park.
The Bolton Innovation Zone is a £300m project that will take 10 years but will bring huge economic growth to the area. It’s the North West's biggest single planned investment and will promote jobs in creative industries and the digital media. The plan is to attract over £1 billion in public and private sector investment and to create 20,000 jobs.
Home to some titans of industry such as Amazon, MBNA, Aldi, Lidl and Whistl – Bolton has some fantastic companies to work for. The economy is booming right now with an output of £4.6 billion, among the highest of any UK Town and part of the largest economy in the UK outside of London, with the close links to the Manchester area. Manchester also houses some of the biggest and brightest digital companies in the UK along with online fashion retailers such as Boohoo and Missguided.
Yields found in Bolton are proportionally higher due to the low purchase costs against properties bought elsewhere in the UK. What that means for you is that you can make more money without increasing the rental fees. As is well publicised – London rental yields are exceptionally low due to the very high price points of properties, and Central Manchester is going the same way due to increased investment and demand for property in the area. That’s why the areas around Manchester are so attractive right now - because they are yet to see the huge price increases seen in the centre of cities. If the London blueprint is anything to go by, anything within a 30 mile or hour commute of Manchester is going to be very expensive in years to come!
If you’re interested in speaking to our team to see what properties we have in Bolton or across the rest of the North West as part of our £50mil property portfolio then please do get in touch