PROPERTY INVESTMENT IN MANCHESTER
Manchester is a vibrant city with a well deserved reputation as both a thriving business and education centre seeing over 100,000 students every year. Manchester has benefited from over £1 billion of investment in regeneration and in Greater Manchester alone has a population of 2.6 million. The city has excellent transport links to other cities in the UK and Europe and a strong demand for rental properties.
The Property Fit Manchester office typically sources terraced housing in good rental areas of Greater Manchester such as Tameside, Bury and Bolton. These areas have excellent transport links to the centre of Manchester and the north west including motorway, train and tram links. These are great buy-to-let investment opportunities.
The Manchester houses are normally 2 bedroom and about 65 – 80 m sq. The properties are offered to working tenants or tenants with a home owning guarantor. The demand for this kind of property is very good. The houses are let on single tenancies and the gross yields are high at 8% – 10%. Quite often we source properties that need some repairs which helps keep the purchase price low. We work with a team of specialists and can manage all repairs, rennovations and furnishing requirements for our clients.
We have also sourced multi-let property around major hospitals. In addition, we have sourced some city centre apartments in Manchester. We have found, however, most of our clients prefer the higher yields that the terraced properties deliver (Manchester apartments gross yield = 6% – 7%) and do not like high service charges that most apartment developments tend to charge.