Regeneration, infrastructure investment and a growing population says yes
When you invest in off-plan property in the UK, it can be difficult to take yourself out of your comfort zone. Investors in off-plan property have made some fantastic profits since the end of the Global Financial Crisis. However, with the London property market cooling, savvy investors are looking to regional cities and commuter towns.
Previously out-of-favour locations are benefiting from billions of pounds of regeneration investment. Infrastructure spending is energising business growth. These are the new property hotspots that are driving substantial financial gains. Stockport, just a few miles from the heart of Manchester, promises to be one of these.
Mancunian success – rippling out to its commuter towns?
Stockport is a former mill town turned commuter town. It’s perfectly placed for workers to travel to Manchester’s business districts, and has direct rail services to London, Birmingham, and Liverpool, too. Manchester’s airport is only eight miles away.
The local authority has been fast to realise the opportunity for Stockport. There is £1 billion being invested in retail, commercial and residential development. A new transport interchange (at the cost of £42 million) will knit all transport routes together, making commuting even easier. After a chequered industrial history, Stockport is investing in transforming into a well-connected regional business hub.
Some of the best prime real estate in the land
Stockport is home to some of the most affluent suburbs in the UK. There are plans to build more than 1,000 homes to cater to a rapidly-growing population. Property types will include detached family home and apartments targeted at young professional commuters. Properties that are ideally situated for residents who want to be near work and a vibrant nightlife. The regeneration taking place here offers some superb off-plan property opportunities for investors with the foresight to invest out of London.
Not just for commuters
Even though Stockport is perfectly located as a commuter town, only around one in ten of its working population commutes to Manchester. The local authority hasn’t only identified the residential opportunity; it is also working to attract new business into the city. The Stockport Exchange, next to the mainline station in the centre of Stockport, provides 370,000 square feet of office space, and an 115-bedroom hotel.
Among other developments, the town centre’s streets are being upgraded, and the retail offering is being improved under the ‘Portas Pilot’ retail scheme. By the end of this year, Redrock Stockport will deliver new public squares, around 40,000 square feet of new retail space, new restaurants and bars, and a 10-screen cinema. Market Place and Underbanks are being repositioned as hubs for independent retailers, restaurants, bars, cafés and businesses in the creative sector. On the outskirts of the town centre, the Aurora Industrial will create hundreds of new jobs.
A swathe of Stockport’s 1950s social housing is to be replaced with new two and three-bedroom homes. Properties of historic value will be refurbished. Extra care is being given to the conservation area of Lower Hillgate.
Luxury apartments are being developed in Piccadilly Square near the Town Hall. There will be ‘urban villages’ in Covent Garden and Hopes Carr. New homes are being built in Brinnington.
Workers that need to be housed
Stockport’s population is growing, highly educated, and economically active. Almost two-thirds of its 287,000 residents are of working age. 81.5% of these are in work – this is higher than the national average of 74.6%.
Manchester Airport is a major employer, and with £1 billion being pumped into the airport is likely to provide even more jobs to Stockport’s residents in the coming years.
Stockport’s main hospital is located less than two miles from the town centre. The new developments being built will prove ideal for hospital employees who want to live close to work and leisure.
Stockport is not simply a commuter town. It’s business, retail and leisure hub. It’s ripe for investment in off-plan property before the property investment community uncovers this gem. When better to invest than while all the town’s business and regeneration investment are underway? Property investment made early should benefit from the improving infrastructure, leisure and retail amenities, and investment into commercial space that will boost jobs growth in Stockport. The population is forecast to continue to grow, and this will translate into more demand for homes.
Off-plan property investment with stunning net rental guarantees
Set in the conservation area of Reddish, Elisabeth Gardens is part of the massive regeneration taking place in Stockport. This derelict mill conversion is creating a stunning community for hard-working professionals. Residents here will benefit from Stockport’s superb leisure facilities and position as a regional transport hub.
Investors in these off-plan properties should take advantage of the benefits of regeneration areas, and the potential for off-plan investment to outperform. Better still, they come with a 6.5% net rental yield guarantee for two years.
To find out more, contact one of the Gladfish team today on +44 207 923 6100. You won’t find this amazing investment opportunity elsewhere – we’ve been given exclusivity on this development, thanks to our great track record in Manchester.
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