It's very easy when talking about Salford to focus on the Salford Quays, there are so many fundamentals here and for anyone that has been to Manchester the Quays restoration and regeneration is an amazing success.
But Salford is a city in it's own right with a popluation of more than 250,000 and with so much new development going on you could be forgiven for thinking that Manchester City Centre has sprawled out to include Salford.
Manchester has taken the undoubted crown for investment away from London in the past few years, capital values continue to grow, demand for rentals is up and this is likely to continue unabated.
Salford has several multi-million pound projects currently underway to ensure a secure future for your investment!
During the last five years, massive investment has been put in to new infrastructure and public realm, new homes, education and health facilities, new businesses and shops. From major developments to city parks, revitalised waterways and green spaces.
The priority has been to connect the city and its residents to the growing opportunities in and around Salford, to secure jobs and growth and to target secured investment and regeneration. As a result, more people than ever before are choosing Salford as a place to live, work, invest and visit.
Port Salford will potentially create over 1,000 jobs in the first phase, with a longer term target of around 3,100 jobs.
There is also the £26 million AJ Bell Stadium, along with its future associated developments.
Other developments include the Greengate Square, which is set to be the catalyst for £400 million in private sector investment.
The revitalisation of key areas along Chapel Street and the riverside corridors of the Bridgewater Canal and the River Irwell.
Additionally there is a £650 million scheme to transform Pendleton the old shopping district of Salford underway, creating 1,500 new homes, 1,300 homes modernised and 500 new jobs.
Don’t miss out on this gem. Call your property consultant now on +44 (0)207 923 6100!
The Northern Powerhouse
HSBC’s annual survey in 2015 found that Manchester was Britain’s buy-to-let hotspot with average buyto-let yields of 7.98% and it features in the top ranking every year since. With 10,000 new homes a year required there is plenty of room for growth.
Rental properties make up more than a quarter of Manchester’s housing stock and the largest proportion in Britain. Annual rents have risen 4% in the last year and this has rippling outwards to Salford.
Year on year there has been an increasing number of inward investors locating to Salford with The Quays the most favoured destination. It’s a dynamic commercial centre, currently home to more than 8,700 businesses which employ over 127,000 people. This means there is a high demand for rental properties here from quality tenants.
Salford is integral to the Greater Manchester economy, which is the economic powerhouse of the northwest of England. Its economy is growing at above the UK’s average rate, it has increased by more than 12% since 2004. Similarly its population, currently around 234,500 people, has risen around 6.5% over the last ten years alongside the economy growth. Salford’s housing prices are competitive, at currently just over 20% lower than the average for the Greater Manchester area, and 44% lower than the UK average. This is good news for buy-to-let property investors as Salford is just a short commute to Manchester, property yields here are excellent.
Shines brighter still - Salford
Property prices here are also rising, with local increases around 6.47% in the last twelve months and 20.07% over the last five years (Zoopla 12/15) There’s plenty more growth to come.
Almost half of the Top 500 businesses in the northwest are based in the Greater Manchester region, along with many FTSE100 companies and thousands of foreign owned companies.
Salford has been part of an ambitious regeneration and development programme to attract further companies. Its greatest success story so far is MediaCityUK a hub of creative industry spearheaded by the BBC. Since it opened in Salford has become one of the UK’s most determined, innovative and creative business destinations.
Opened in 2008, the MediaCityUk features one of the biggest HD studios in Europe. The launch of the Tomorrow building in Summer 2016 will bring 50,000 sq ft of further office space, ensuring Salford continues to grow at an exponential pace.
Shops & Leisure
Shopping & Dining: There is more than enough to tempt the shoppers and diners of the region, a stroll into the city centre with ample retail locations, from quaint independent side-street boutiques, through to high street names, and designer outlets. You also have all the major shopping centres a short hop away
Sport & Culture: Whether you are interested in swimming, the gym, exercise classes or playing in a team, Salford has something for you. With a huge range of sport to play on either a social or competitive basis. Discover the industrial heritage of picturesque Worsley, spectacular gallery exhibitions with stimulating art, recording studios and unique goods you can buy at Islington Mill, a former cotton spinning mill, home to over 50 artist and designer studios.
Salford Museum and Art Gallery features a Victorian street bursting with relics from the past. Discover Salford’s history by taking a cruise along Bridgewater Canal, or take a trip to the Quays to see art at the The Lowry or learn about the past in the Imperial War Museum.
It would also be remiss not to mention Manchester United and Manchester City two of the most famous clubs in the world. Brett often jokes that you can tell where international investors invest... it is wherever theres a world renowned football club.
Green Spaces: Salford contains a rich and diverse range of parks and open spaces with over 60% of the city being made up of green spaces. This includes over 30 parks and recreational grounds, two country parks and five local nature reserves.
Salford Quays: Besides the shopping the Quays area is a great place to take a stroll, grab a coffee or some lunch or just pass the afternoon sitting by the River Irwell.
Jason's 5 Minute Due Dilligence
Salford is a major part of the Northern Powerhouse, nestling just next door to Manchester. It’s an area of interest for the Government who have promised and actually produced to make it an investment focus.
In September 2015 George Osborne announced a multimillion pound Chinese investment in three property projects in northern England. Salford, Sheffield and Leeds will receive £1.2bn gross.
This is on top of a £533.2bn Growth Deal for the Greater Manchester area for 2016-2021. But huge investment isn’t news to Salford.
For the past 5 years large-scale regeneration has been providing property investors with lots of deal hunting opportunities.
Salford’s regeneration success and the trigger for much of the area’s growth is down to MediaCityUK, which opened in 2011 to become one of Europe’s biggest media hubs.
With more office space opened in 2016 and Manchester’s house prices on-the-up and investment property in Salford is bound to appreciate.
Property prices in Salford are currently a steal at 20% below the regional average. With the population growing at an above average rate there’s also no shortage of tenants looking for rental accommodation.
This is our 7th development in Salford over the years.
I remember selling units based on the MediaCity coming to Salford and the BBC moving there. Well that happened and now this area is undeniably the biggest hotspot outside of London, it's pulled more column inches over the past 5 years than anywhere else. It's attracted more foreign investment than anywhere outside London.
It's attraction continues to draw crowds to exhibitions and so many foreign investors are choosing here over London at the moment.
For anyone whose been to Manchester, it has a vibe, unlike so many other cities which have been neglected, Salford is on the move.
You can tell the success of a city by the cranes in the sky and Manchester and Salford are awash with development, regeneration and investment which will directly mean that your investment will survive the test of time.
Also with so many students, creatives, tech companies and other commercial there are jobs and culture and things to do which attract people to stay after their degree in finished. This creates a thriving place to live and a great security for your investment.
I didn't get to do the site visit on this site but it's one of the places where I love visiting. It's happening, alive and that's good for investors.
Don’t miss out! These will go quickly.
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