Oldham Property Investment Guide

‘Game-changing’ £60m investment due in the town

Oldham has just been given the green light for a ‘game-changing’ £60m town centre development, which is set to bring a Marks & Spencer to the town.

The new development will bring 800 new homes and apartments and will see an extra 150,000 sq ft of retail space.

There is also possibility of a new 80-bed hotel or 36 apartments being built. This new site will be a short journey from the new Oldham town centre Metrolink intersection. January 2014, saw the opening on a new Oldham town centre Metrolink line. Journeys from Oldham Mumps to Manchester Victoria now take just half an hour. Metrolink passengers from here are provided with an integrating tram and bus service and a new, free park and ride site.

Metrolink is the borough’s largest infrastructure project undertaken, it is now the largest light rail network in the UK, with a fleet of close to 100 trams running to 92 stops across Greater Manchester.

Oldham has been extensively redeveloped during the last few decades and its two shopping centres, Town Square and The Spindles, now provide one of the largest covered retail areas in Greater Manchester. Its town centre contains the highest concentration of retailing, cultural facilities and employment in the Metropolitan Borough of Oldham.

House prices in Oldham are well below the national average, by a little over 54%. While house prices are yet to feel the benefit of the ripple effect, the area does have solid yields because of the low cost of properties. Between 2010-15 Oldham was in the top 10 for rental yields (4.98%), making the area an excellent choice for buy-to-let investors with a smaller amount of capital available.

Oldham’s £9m Digital Career College opened in January 2015, the first of its kind in the country. Dedicated to innovation and digital technology, it is home to a high tech Fab Lab offering digital printing, media & coding courses.

Find out more about this commuter town with our free Oldham Property Investment Guide. 

Economy & Employment

Healthcare is one of the largest employers in Oldham.

Since the de-industrialisation of Oldham in the mid-20th century, the cotton and engineering industries have been replaced by healthcare, which employs some 12,800 staff. Retail is the second largest employer, providing jobs for over 10,000 staff, along with factory-generated employment. Manufacturing, technology and engineering also employ around 10,000. In addition, food processing and home shopping also have a significant presence.

Ferranti Technologies is an electronic, electro-mechanical and electrical engineering company, supplying advanced technology for military and commercial purposes.

Park Cake Bakeries was sold in 2007 to Vision Capital, and have a large food processing centre in Hathershaw, employing in excess of 1,600 people.

Hollinwood is home to the Northern Counties Housing Association and Mirror Colour Print Ltd; the printing division of the Trinity Mirror group, which prints and distributes 36 major newspapers and employs 500 staff.

Find out more with our free Oldham Property Investment Guide. 

Investment

Gateways to Oldham is a £113m project to deliver more than 600 new and refurbished homes.

The Gateway project incorporates two existing neighbourhoods which have been regenerated, Primrose Bank and Crossley and two new neighbourhoods are being created at Dew Way and Keswick Avenue.

The £113m project aims to deliver more than 600 new and refurbished homes.
Phase one of the project has seen 87 new homes being built to the highest specification and green standards to help local residents.

A recently regenerated area of Oldham is St. Mary’s which has been transformed from a derelict area to one of 90 new quality family homes.

The town centre has seen major investment, in 2014 it received a new Metrolink interchange, and in 2015 a new sports centre opened.

Over the coming years, the town hall is being turned into a new cinema, alongside a newly built town square. The council hope to turn the Grade II listed NatWest bank into apartments, cafe’s and bars.

There are also plans for a £60m investment in the town centre, this has plans to bring a new Marks & Spencer store as well as 800 new homes and apartments. It is estimated the development will bring an extra £20m a year to the area.

Transport

Air: Manchester Airport is just over 14 miles away, with Leeds Bradford being just under 30 miles away and Liverpool John Lennon Airport 33 miles, so a good choice of availability for Oldham’s residents.

Tram: Oldham is served by the Metrolink tram network which opened in January 2014, journeys from Oldham Mumps to Manchester Victoria now take around half an hour.

Road: Oldham is about 4 miles south of the major M62 motorway, but is linked to it by the M60 at Hollinwood and the A627(M) via Chadderton. There are also major roads to Manchester, Rochdale, Ashton-under-Lyne and Huddersfield.

Bus: Oldham bus station has frequent services to Manchester, Rochdale, Ashton-under-Lyne and Middleton with other services to the wider borough, Tameside and across the Pennines to Huddersfield.

Education

85 primary schools, 14 secondary schools, four special schools, six independent schools and two independent special schools, serve the population of Oldham.

Notable schools: Oldham College was founded in 1893 when a donation from the Platt Brothers (who built the first cotton mill here), led to the establishment of the school of art and science in the town. The college offers over 900 courses to 10,000 students. It is in the top 10% in the country and is rated ‘Outstanding’ by Ofsted. It also has LSIS Beacon Status for excellence in its delivery of learning skills with a success rate far higher than average.

Further and Higher Education: The Oldham College and Oldham sixth form college provide further education in the district. University Campus Oldham (UCO) and Oldham College also provide HE. In 2014, Oldham College saw £7m for new classrooms, community space, student support services, early years, childcare and business courses.

Oldham is also commutable to the University of Manchester. The university nearly 40,000 students, of which 11,865 of them are studying a postgraduate degree. The University of Manchester has been ranked 33rd in the top universities of the world.

Shops & Leisure

Shopping & Dining: Oldham’s shoppers have a great choice, the Spindles Town Square Shopping Centre is where you will find over 70 retailers. Or there are more traditional markets, award-winning Tommyfield Market is a bustling haven for bargain hunters, combining both traditional and modern facilities. Oldham Street Market is held on Curzon Street and Albion Street every Friday and Saturday, here you will find fashion, Caribbean food and fresh produce.

Culture: Oldham’s program of festivals, concerts and carnivals are guaranteed to keep you entertained. There are also international art collections at gallery Oldham to enjoy. Theatregoers will enjoy a trip to the vibrant Oldham Coliseum. Playhouse 2 in Shaw is home to the Crompton Stage Society, they showcase quality drama alongside a variety of live comedy and music shows in a unique atmosphere. The intimate 100 seat Lyceum Theatre has a varied programme on offer and a gallery space for local art exhibits. And in 2017 there will be a new heritage and theatre funded partly by the English Heritage fund.

Green Space: Oldham’s 28 parks have been judged to be among the best in the country, with 2 winning a prestigious Green Flag Award–Dunwood Park and Alexandra Park-which also have Grade II listing by English Heritage.

About the Author

Brett has over 20 years experience in all facets of property, he owns various companies centred around property and is the driving force behind the education and training at Gladfish. His companies have sold over £850 million in UK and London property and he manages over 1200 properties through his estate agency chain. Today he shares his time between UK, Australia and Singapore. He is married to Arlene and together they have 4 kids.

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