The relocation of business giants like Google, Amazon and Microsoft to Manchester might seem insignificant to a property investor, until you discover the astounding impact it makes to the Castlefield Manchester Business and Employment Sector. Young professionals running after employment and job opportunities will need accommodation in the city, which will take effect on the already growing demand for rental properties. This allows investors to achieve high rents and when the time is right to sell the property on, capital will appreciate. As Manchester Business and Employment Sector flourishes with professionals seeking the convenience, accessibility and vibrancy of city life, Castlefield, being right at the doorstep of the city centre will naturally reap all the benefits from a thriving professional community.
Home to hundreds of local and international businesses, Castlefield Manchester Business and Employment Sector continues to grow, properties in the area will remain a lucrative and smart investment opportunity for serious investors. Just outside of Greater Manchester is MediaCityUK business park in Salford Quays and it is now home to broadcasting companies such as ITV Granada and the BBC.
Castlefield, Manchester has become an investment hotbed, with businesses and professionals alike looking to make the most of the Northern Powerhouse. Home to one of the largest student communities in Europe, the city manages to keep plenty of students long after they’ve graduated, leaving the next generation of young professionals looking to rent or buy as close to the city centre as possible to make the most out of its convenience, superb travel links and enjoyable array of shops and bars to unwind at after a long day of work.
Massive Regenerations in Recent Years Perfect for in Tech Industries
Attractive housing combined with an attractive location guarantees their properties to always be in demand in the area, especially if buyers are working for the tech industries just in the vicinity and are running on higher wages. Combined with further regeneration plans, prices are only more likely to increase, especially if they are presented to the target market a young and thriving professional community.
Sitting proudly within Manchester’s City Centre, Castlefield is perfectly placed for professionals looking to work within the city. The area has quickly become a hotspot for luxury living with a demand that only continues to rise. Castlefield has experienced some of the most regeneration in Manchester, and more is coming in the pipeline.
Castlefield Manchester Business and Employment Sector flourishes with strong transport links, array of bars and restaurants for unwinding
Thanks to Castlefields strong transport links that connect Manchester not just to the rest of the UK, but to the entire world, it is an attractive area for everyone, especially for travelling professionals. With tram stops, train stations, motorways and an airport just a short journey from Manchester’s city centre.
The area is well known throughout Greater Manchester for its cobbled streets, canals and casual atmosphere. However, while it acknowledges its industrial history with amazing properties that pay homage to these roots, an influx of popular bars and restaurants have turned Castlefield into much more than a place of work but also an ideal place for professionals to get drink in some of the best bars and restaurants to unwind after a busy day at work.
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Castlefield Manchester Business and Employment Sector: Top-Notch Affordability As Compared to London
There are many reasons why people are making the move. Average weekly wages are indeed lower, according to Centre for Cities, the average weekly wage in London is £751.40, compared to £525.60 in Manchester. To top that off, living costs are on the modest side in Manchester vs. London. According to home.co.uk, average rents in London are a staggering £2,788 pcm, compared to £1,141 pcm in Manchester.
Wages are not as different, so it is reasonable that people would want to live somewhere with lower living costs, where they have a bit of extra money in their pocket at the end of the month. Regeneration and business relocation also mean that people often have access to the same jobs, especially in broadcasting and technology, where Manchester was voted the best city to work in.
As this popular part of the city continues to thrive, so does the demand for property within the area. So, whether you’re looking for something long-term or a quick return on investment, Castlefield, Manchester should fit perfectly in your portfolio.
Read more about our Castlefield, Manchester Property Investment Hotspot series below or if you’re interested in running through our local Castlefield new build developments chat with the team on 02079236100 or book a time.