University Cities Offer The Best Returns for Property Investors

Every year thousands of people flock to university towns in search of opportunities, but it isn’t just the students that can benefit from what a university city has to offer. Development and growth provides a wealth of investment possibilities for the surrounding areas; and it just so happens that the best rental yields on offer tend to be within easy reach of a university. This post will take a look at our top picks for university cities offering the best returns.

Liverpool

According to data collated by TotallyMoney, six of the twenty top rental yield earning postcodes were in Liverpool last year. The world famous docks are being revamped whilst protecting the Docks’ World Heritage status, there is residential development springing up as part of the new Paddington Village, and the development of a new Creativity District will house some of the many vibrant and successful creative businesses that Liverpool boasts.

Liverpool John Lennon Airport saw 5 million passengers in 2018 and has been increasing the numbers of flights and routes available. The coach park is expanding to encourage more domestic tourism and London is reachable in just over 2 hours by train. There are even plans to build a new cruise terminal! The University of Liverpool attracts 35,000 students, including 8000 from around the world, many of whom will choose to make Liverpool their home post-graduation.

Leeds

Leeds is a growing city that is seeing an increased interest. Channel 4 have recently moved their headquarters there, and there are plans to bring some of the more historic buildings into media usage. The Tetley contemporary art centre receives regular funding from the Arts Council and has had 600,000 visitors in the past five years. The South Bank regeneration project will see Leeds city centre double in size and two state-of-the-art hospitals are being built to provide for the city’s inhabitants.

Leeds is already home to the busiest train station in the North, with 30,000 daily commuters passing through, and it is set to capitalise on the improved links to London that will come with the HS2 railway. Improved cycling and pedestrian routes will make it easier for the students from the four universities and the newly opened Construction College to get around whilst also making the city more user-friendly for visitors. Leeds is thriving, and with rental yields of up to 7.92% it could really boost your buy-to-let portfolio.

Sheffield

Another city set to benefit from the HS2 route is Sheffield. The fourth largest city in Britain, Sheffield has two universities and has an enviable music scene. It is also the greenest city in Europe, which could be why it attracts such a large number of graduates and is seeing increasing numbers of international students enrolling each year. The population is growing; there is a predicted increase of almost 15% in the next 15 years. As new residents arrive and regeneration projects complete, the current rental yields of up to 7.63% could skyrocket.

The historic Parkwood ski village is facing a revamp, with plans to develop it into a sports and leisure space to complement the range of outdoor activities that the Peak District provides just half an hour drive away. The redevelopment of retail areas is also attracting vast amounts of investment, for example the Moors Markets host over 90 independent businesses as well as established chains and restaurants.

Bolton

Bolton may not be the first city you think of when considering bustling university cities but you can expect high rental yields, and that’s even before they’ve completed the billion-pound regeneration of the city centre. The night-life is thriving, transport links to major cities like Liverpool and Manchester are quick and convenient and the cost of living is relatively low. The university currently has around 11,000 students on campus who consistently rate it highly for student satisfaction, which will no doubt help them in meeting their aim of 20,000 students in Bolton for the 2020 intake. After all, they’ll need new students to populate the new bioscience learning spaces and to utilise the Bolton One health, leisure and research centre. As a city it is very much up-and-coming, making it a great site for property investment.

Bradford

Bradford boasts a young and multicultural population. It is a UNESCO city of film thanks to its rich heritage, and is relaunching it’s famous film festival next year. The Townscape Heritage Scheme is investing millions in protecting and restoring historical buildings and there are several commercial developments appearing as part of the M62 corridor. As well as being well-connected by road, Bradford has two airports within an hours distance and the Bradford interchange houses coach, rail and bus facilities. With so many people building their lives in Bradford there is a sustained demand for rental property.

Manchester

Manchester has the largest student population in the UK, with 40,000 students and almost every country of the world represented. As such, it attracts a significant amount of foreign investment and has a number of confirmed large-scale developments planned. They include a new creative space called The Factory – a city centre home for opera, art, music and community – that will attract up to 850,000 people per year, as well as laying new tracks and completing a huge overhaul of the railway. With so much more to come, Manchester looks set to remain a firm favourite for tenants and investors alike.

Sunderland

Sunderland is another hidden gem. The university has several campuses and has recently seen the arrival of a brand new School of Medicine. It is renowned for providing opportunities for under-represented students to study and has a proven track record for graduate employment. With miles of beautiful beaches, a Metro system servicing the Tyne and Wear region and a huge commitment to the regeneration of the Riverside district, Sunderland will continue to offer great returns for buy-to-let investors.

There are many great reasons to build a buy-to-let portfolio in university cities but these six locations tick all of the boxes with their great transport links, thriving communities and drastic plans for improvement and growth. These desirable cities will have no shortage of potential tenants in the years to come, making them ideal investments for those looking to buy, let, and then reap the returns.

As Demand Continues to Outstrip Supply, Rental Prices Could Skyrocket

Increased Rental Demand Could Mean Rent Will Rise

According to the latest report from the Royal Institution of Chartered Surveyors (RICS), the number of active renters searching for properties continues to outstrip supply. With a predicted 15% increase in rental prices by 2023, RICS detail that rental supply has seen a consistent fall for nearly two years, even with the increase in demand for rental properties.

Last year saw changes to mortgage tax reliefs for landlords which, by 2020 will be restricted massively, impacting small-scale landlords heavily.  

RICS Policy Manager, Abdul Choudhry casts his opinion:

“Withdrawing tax breaks that small landlords relied on, placing an extra 3% on second home stamp duty, and failing to stimulate the corporate build-to-rent market, has understandably had an impact on supply. 

“Ultimately, the government must consider the impact of its policies, and if the wish is to move away from the private rented sector, it must provide a suitable alternative.” 

As Demand Continues to Outstrip Supply, Rental Prices Could Skyrocket Aspen Woolf

The survey goes on to mention that the South West of England, especially in areas such as Exeter, will see the highest increase in rents. Other regions experiencing ‘mini-booms’ are Edinburgh, Birmingham and commuter belt towns. 

Birmingham is a particularly interesting example; rental supply is down and there are presently 5% fewer homes to let than there were two years previously, according to the Countrywide rental index.

The change began in April 2016 when a stamp duty surcharge for additional properties was introduced. Although rental supply has continued to be strong in the North of England, the South has seen a decrease in supply, with the North seeing 19% more properties available to rent than 3 years ago, whereas the South saw a 16% decrease in available rental properties.

This decrease in available properties to rent in the South may, in part be due to the result of longer tenancies as more and more tenants decide to settle down and take advantage of their locality.  

Manchester and Birmingham are still seeing rental under supply as demand escalates rapidly.

Birmingham is to expect a population rise of 171,000 to a total 1.3 million people by 2039 while experts predict that the city will need a further 100,000 homes over the next two decades.

As cities such as Birmingham see their infrastructure improve and large commercial investment in the city, this equates to a large number of tenants scoping out rental opportunities to take advantage of. 

As Demand Continues to Outstrip Supply, Rental Prices Could Skyrocket Aspen Woolf

Another factor that is increasing tenant demand in the area is the arrival of HS2, the high-speed railway connecting areas such as the West Midlands to the capital in a fraction of previous journey times. What is now a one hour and 21-minute journey, once the HS2 is introduced, will be slashed to 49 minutes, making it a viable commute. This gives tenants the attractive option of the high salaries enjoyed in the South, coupled with the affordable rent of the Midlands.

The number of empty homes in the UK is also contributing to rental increase. Standing at an estimated property value of £50bn, empty properties make up a large proportion of the UK’s property market, with the number rising for the first time in 10 years.

The number of empty homes in the UK now stands at around 205,293, an increase of 2.6% compared to the previous year, according to a report by HouseSimple.

Locations include London with 20,237 empty properties, Birmingham with 4,280, Bradford comes in at 3,931 and Liverpool has 3,889 vacant homes.

There may be no particular reason for this trend, although the aptly named ‘buy-to-leave’ landlords are considered to be an influential element. It goes like this: a landlord buys a property, leaving it vacant while waiting for the value to go up before selling. Local councils are taking steps to curb these cases by levying higher rates of council tax on properties that sit empty for extended periods of time. 

Government plans to ease rules of making use of existing land that already has property on it, for example converting empty shops into flats should help relieve the issue with an aim of making better use of brownfield sites and building upwards instead of outwards. New planning rules are making this easier to happen, affording minimum densities around transport hubs and city centres so that a greater number of properties can be developed in places with the highest demand.

Kent Reliance, the private banking company, forecast that the rental market will carry on to professionalise as it connects the supply gap, developing the service between landlords and tenants as less experienced landlords exit the market. 

To date, 31% of landlords now make a full-time living from investing in properties, compared to three years ago when the figure was 26%. 

With a greater number of landlords now functioning as a business, purchasing properties as a limited company, there is greater opportunity for them to offset their mortgage interest costs against tax. 

The data from Kent Reliance demonstrates that 72% of mortgage applications came from a limited company, more than twice the rate seen a couple of years ago.

Andy Golding, CEO of Kent Reliance states:

“A housing market with dwindling supply of rental accommodation yet growing demand would, without a significant rise in affordable housing, provide the worst of all worlds for tenants: higher rents, with less choice and security, hampering their ability to save to buy a home.”

A 15% rise in rents for tenants is pushing forward essential economic growth in areas across the UK plus a boost in regeneration to establish more desirable locations. With rising rental yields and steady capital growth, the market is in a strong position.

Aspen Woolf is an award-winning property investment company established in 2005 with offices in the UK and the UAE. Experts in wealth building opportunities for investors of all levels, we believe that through integrity, experience and quality of service we stand out from the crowd. Be it for buy-to-let investments, cash buying of property or rentals, we are here to guide you every step of the way.

 

House and Rental Prices on the Rise

As the latest figures from HM Land Registry reveal, the average UK house price now stands at £230,292 while the average monthly rent is £959. Let’s take a look at the history of the UK property buying and rental market, the areas with the highest increase and the reason why house and rental prices continue to be on the rise.

A brief history of house price fluctuation:

  • 2007 saw an increase of 11%
  • 2009 saw a decrease of 17.4%
  • 2011 showed prices dropping by 0.8%
  • 2015 showed a steady increase up to 8%
  • As of July 2019, property prices are showing an average increase of 2.3%

So, why do house prices go up?

When it comes to inflation of house prices, there are a few factors to consider:

Supply and demand

In simple terms, when demand for houses increase, prices follow suit. When demand falls, so do house prices. Several factors can influence supply and demand, these include a lack of available land, lower government investment or regulations against building on green belt areas.

Economic growth

An increase in employment and in turn, a growth in salary will enable more people to invest in housing and therefore increase the demand.

Demographics

Levels of migration to certain areas in the UK and an increase in population as more people flee the capital’s soaring and unattainable housing prices increase demand in lower-cost areas, forcing house prices up.

Location, location, location

Homes that are situated in a city with a solid infrastructure, including transport links and convenient geographical location within the UK play a strong part in pushing housing prices up.

Financialisation

Demand for housing is only limited by a bank’s decision on offering a mortgage. As long banks are still lending, demand will continue to rise, as will prices. This is what we call ‘Financialisation’ of the housing market.

The Midlands: A Case Study

The East Midlands – home to cities such as Nottingham, Leicester, Lincoln, Derby, Northampton, Mansfield and Chesterfield has seen the highest growth, with house prices increasing on average by 3.2% in 2019. Closely followed by the West Midlands, with cities including Birmingham, Coventry, Wolverhampton and Stoke-on-Trent has seen an overall increase of 2.6% up until July 2019. Due to an employment boom in the Midlands, the area has seen a trend of more home buyers and an increase in average salary which have contributed to the increase in housing prices in the area. The growing population is seen as a key indicator for house price increase in the area. Birmingham is regarded as one of the youngest cities in Europe with 40% of the population being under 25. The five universities in Birmingham are also a contributing factor, having a high level of retention of graduates which is likely to further increase demand of the city’s housing market.

Rentals: Going, going…. going up

A 1% increase in rental prices across the UK was slightly below the prediction from the Royal Institution of Chartered Surveyors (Rics) who, in July 2018 anticipated a 2% increase. Rental prices are generally more stable than house prices, due to a few contributing factors; tenants taking out longer contracts, rent not being affected by interest rates plus more people are buying houses for investment. 

Rental Prices – a retrospective:

  • 2014 saw an increase of 1.5%
  • 2015 saw a further increase of 2.5%
  • 2016 saw a slight decrease of 2.2%
  • 2017 saw a decrease of 1.5%
  • 2018 rent prices stayed steady at 1.5%
  • As of July 2019, rental prices are showing an average increase of 1%

Factors Influencing Rental Increase:

Supply and demand

As with housing prices, when demand increases as does rent.

Local wage levels

Local wage levels determine the feasible maximum the average person can afford to pay in rent and still be able to cover household outgoings such as bills. An example: if the average salary in a city is £1,500 per month, you’re far less likely to be able to find someone willing to fork out £1,200 for a one bedroom flat. On the flipside, if the average wage is around £3,000 per month, the option is more viable.

Location

Geographic factors such as how close you are to a major town, restaurants, parks, schools and shopping malls can all influence the price of your rent.

Economic growth

Investment, employment opportunities and physical capital in an area you may be considering to rent in could also push up the price.

Upgrades

Kitchens and bathrooms are the key factors in elevating rental price, as if these are not up to standard for potential renters, this could be a real deal breaker. On the other hand, if these rooms are of a high standard, this will raise the rental price of the property.

House and Rental Prices on the Rise Aspen Woolf

Preston: A Case Study

Preston – a city that can boast that its people built the first ever motorway, the Preston bypass which opened in 1958, is also home to the highest rental increase in the UK. In Preston, Lancashire rents have risen by 8%, raising the average rent to £378 per month, closely followed by York and Stockport which showed an increase of 7%. Preston has seen quite a turn around with it’s government grant slashed from £30m to £18m in 2013 but with Preston being an ideal commuter option for working in either Liverpool or Manchester, this also determines the inflation seen in the Preston rental market.

Most housing associations cite that rental prices that eat up more than 30% of an individual’s income as unaffordable. For example, an annual gross income of £24,800 would be required for the rental of an average one bedroom flat in England. In Scotland £20,700 is required and in Wales the figure stands at £17,600.  With rental prices being unaffordable in two-thirds of the UK for most young people, this has seen house shares becoming a more practical option.

Aspen Woolf is an award-winning property investment company established in 2005 with offices in the UK and the UAE. Experts in wealth building opportunities for investors of all levels, we believe that through integrity, experience and quality of service we stand out from the crowd. Be it for buy-to-let investments, cash buying of property or rentals, we are here to guide you every step of the way.

 

There Are An Estimated 1.1m Female Landlords in the UK

female landlord

When it comes to business, there are more women turning hard work into success than ever before. In decades gone by, women didn’t have the same financial goals as men nor did they have the opportunity but that is all changing. For example, research carried out just a few years ago found that over half of the UK’s entrepreneur business owners under the age of 35 were female. A shift had occurred and things had clearly changed. 

This is a promising shift in the right direction and proves that women have what it takes to be just as successful as men and in many cases, more successful. However, what is the landscape like for those women who are choosing to invest their money in property?

In the UK, property investment is one of the most popular forms of investment. In many cases, the risk is lower when compared to the likes of stocks or bonds. So, for those who have chosen to invest in the property market, they can benefit from superb yields, especially if they have chosen the right property in the right area. Cities such as Liverpool or Manchester is where some of the best investment opportunities can be found. Here potential female investors  can find a range of properties where they can see a return of as much as 8% on their investment. What’s more, there is a high demand for property while the areas appeal to a varied marker such as young professionals and students.

So, with these opportunities available, more women have shown an interest in investing in property. As it currently stands, it is estimated that around 1.1 million landlords in the UK are women. Therefore, there are now more women in the property industry than ever before. Not only are women investing but more and more are showing an interest in investing in property. This number has increased year on year and there are no signs that this is going to slow down any time soon. Why are so many women choosing to move into property investment?

The reality of the situation is that women are now more focused on finances than previous generations. Women are now given the opportunity to forge meaningful careers where they earn high wages and manage their money better. This greater control over their finances affords them better financial independence and that means that investment is a way of boosting their finances.

There Are An Estimated 1.1m Female Landlords in the UK Aspen Woolf

In some cases, women also see investing in property as a way of closing the gap between the wages of men and women. In the UK, there is still an issue surrounding the gender pay gap with 78% of companies in the UK paying men more than women. Therefore, investing could be a serious option when it comes to plugging the gap. If they do this right, with the right research and understanding, property investment can become a full-time career. Perhaps women who are seeking a change in career could find that becoming a landlord full-time will give them the freedom and the financial stability that they would not get in any other job. To add to this, buy-to-let investments also require a number of skills and women might see this as a chance to improve on current skills or learn new ones. This can include financial planning, research and communication.

As far as investing goes, there are also several generational factors that have influenced the change in attitudes. Those women who were born in the 80s and the early 90s are now working more and earning more than previous generations. This has meant that there has been an increase in enquiries from those aged between 25 and 34. However, it is not just confined to women from the UK as more women from overseas are showing an interest. This includes countries such as China, The United Arab Emirates and many other countries. Now women all over the world are proving how they have the ability to invest and change the opinions of those who invest in property.

Even female investors who have been investing in the property market for decades are noticing a change. They have confirmed that there has been a shift in attitudes and now more women are showing an interest in investing in property. They are now choosing to take control of their future and increase their financial stability. More women are showing how savvy they can be when it comes to financial freedom and independence.

Women are now taking advantage of the potential of the property market. This is particularly true when it comes to buy-to-let investments in the UK, with cities such as Manchester and Liverpool proving to be an attractive prospect for investors. Many of these investments can prove to be a lucrative opportunity with impressive yields. There is also a high demand that is making it possible for them to make the right investments in the right areas where they can also benefit from capital growth. 

If you are looking to make an investment in property, whether you are male or female, our team are happy to guide you through the process. As a firm believer in equal opportunities, Aspen Woolf’s customer service is unparalleled and inclusive.

 

Lack of Demand for Office Space Creates Fresh Investment Opportunities

Office Space Becomes Residential Investment Opportunities

Whether it is in London or any other area of the UK, there is still plenty of opportunity for investment in property. There is still a considerable demand out there for housing but with such little supply, it has meant that prices are being driven upwards.

From an investors perspective, if finding that right property for investment is difficult, there is always another option. This option is to change the use of a property from an Office to Residential. Due to a lack of demand for commercial property, it has meant that many offices are left empty. Therefore, this downturn in the commercial sector opens doors and opportunities in the residential sector. 

This is something that many investors are now turning to and that proves that it is a feasible idea that has lots of potential. So, how can you capitalise on this exciting investment opportunity? 

If the idea of applying for planning permission is something that has turned you away from exploring this option then it may not be a requirement. You might not require planning permission for a Change of Use from an office to Residential which is also known as B1 t C3, which means you can change offices or retail units into flats.

How is this possible?

The government has put a scheme in place known as Permitted Development Right and this enables certain change of uses to take place without the need to apply for planning permission. Under this scheme, it is possible to change an office use to residential use. So, this makes the planning process more efficient, however, as expected, there are considerations that have to be made. It is not possible to convert every office space into housing and that is something that will have to be researched as part of the process. 

So, if you want to make the change, then you will need to make a Prior Approval Application. This will need to include drawings as well as all relevant supporting documents that include the impact on highways and transport, the risks of contamination as well as the noise impact your development will have along with the flood risks.

If your property falls in line with the Prior Approval process, it will mean that you can move your development forward without the need to meet any other planning requirements. 

At this point, you will then need to work with planning consultants and architects to make the most of the space you have. This will enable you to create a property that is not only habitable but appealing at the same time.

Lack of Demand for Office Space Creates Fresh Investment Opportunities Aspen Woolf

Change of Use – How Long Does the Council Take?

As soon as your plans have been drawn up by planners and architects, they can be submitted for Prior Approval to your council. From this point, the council will have 56 days to make its decision. Once approval has been given, you will then have the chance to start work on your investment, converting your office space into homes. 

What should I consider?

There is no doubt that there are investment opportunities available. When you consider the demise of the high street, it is clear to see just why so many opportunities become available. 

However, what you will need to consider is the quality of housing that you plan to create. 

The Royal Town Planning Institute believe that the Permitted Development rights are being used incorrectly and as a way of delivering low-quality housing that is located in undesirable areas. Therefore, you will need to ensure that your project consists of high-quality accommodation that also meets the requirements of the Existing Permitted Development Guidelines. Therefore, it has to meet space standards and also integrate seamlessly into the surrounding area. 

Why is this an investment opportunity?

The commercial sector has taken a slight hit in recent years. From small start-ups to mid-sized businesses, all have felt the pinch; especially with the uncertainty that surrounds Brexit. Many of these offices are in inconvenient locations for businesses yet from a residential perspective, they would work brilliantly. As offices lay derelict and unused for months or maybe years, the landlords either want to sell them on or they have plans to change their use. Despite the concerns over Brexit, there is still a demand for housing. 

To meet this demand without having to build brand new housing, a Change of Use is a great way to make use of something that already exists. With the shell of the property in place, it is a case of making the necessary changes inside so that it becomes housing.

Investors can then meet the demand for property and make their investment work hard for them.

To make sure that you make the right choices and do everything correctly, it is important that you obtain the correct advice. This will ensure that the entire process is efficient and simple. Without a need for planning permission, you could make a change and begin benefitting from what was once a disused office by turning it into high-quality housing that appeals to those who are looking to get onto the property ladder.

If creating your own housing development sounds far fetched, Aspen Woolf have been identifying wealth building opportunities in the residential sector for over 14 years. Contact us or visit our UK property investments section to see what we have to offer. 

 

Spotlight On: The Loom at Vulcan Mill

The Loom Vulcan Mill Manchester Property Investment

As the redevelopment of Manchester continues, urban developments such as The Loom at Vulcan Mill play a crucial role. This architecturally pleasing building was once home to one of the most influential metalwork factories in Manchester. However, it has now been transformed into a contemporary residence that is set in a prime location.

This superb project has turned a prominent building in Manchester into a thriving investment opportunity. This new development seamlessly complements the work that is taking place in the city, transforming it from a dilapidated building and into one that graces Manchester’s skyline.

The location will put residents within reach of the vibrant city centre as well as a range of amenities, making it an ideal property investment in Manchester for those looking to take advantage of a growing area of the market.

The area for this development is New Islington and with it comes a unique and stylish design. Comprising of one and two-bedroom apartments, they are designed for a particular type of resident, especially young professionals and those who are seeking a high standard of living. From the high-end interiors to the stylish brickwork, this is a building that has been transformed in an impressive way, proving that Manchester still has a lot to offer. With it comes that perfect mixture of urban living with green areas and social living as well as the link to the city centre. As far as locations go, this is up there as one of the best.

What is on offer?

As mentioned, the development comprises of 89 one and two-bedroom apartments. All have been designed and furnished with a high spec look and finish in mind. Lavish, opulent and modern, the aim is to capture a sector of the market, and this is where the investment opportunity is one that should appeal to investors looking to take advantage of a great opportunity.

Prices for the 1-bedroom apartments start at £173,000 while the price of a 2-bedroom apartment starts at £250,000. The development also comes with 32 parking spaces which have been allocated to 32 specific units. The work was undertaken by a reputable and respected developer, ensuring an exceptional standard of work and attention to detail.

From an investment perspective, the development comes with a 250-year leasehold and has expected gross yields of up to 5.6%. There is also a very tempting payment plan in place where investors can pay 10% on exchange, 5% six weeks later and then 85% on completion.

Spotlight On: The Loom at Vulcan Mill Aspen Woolf

Location Details

With any development, location is everything and for investors, it is particularly important. Therefore, The Loom at Vulcan Mill will please investors because its location will appeal to those who want city centre living without being located in the city centre.

New Islington is an area that has already undergone extensive regeneration. It is also conveniently located just 15 minutes from the business areas as well as leisure facilities that are located within the city centre. This regeneration zone has seen significant improvements made, particularly within the Piccadilly Basin and Ancoats area. 

The great thing about the Loom at Vulcan Mill is that it is within 100m of the New Islington Metrolink Station. This makes it an ideal place to live for commuters and those who love the bright lights of the city centre. Therefore, they can find themselves in the city centre in just two minutes.

What’s more, they are also within easy reach of many top amenities. Within walking distance, residents will be able to reach Piccadilly Train Station, the Northern Quarter and the Manchester Arndale. They will also be within a number of Metrolink stations such as the Etihad Campus and Deansgate-Castlefield.

For many, location is everything and if investors are seeking a property that has mass appeal then this has it all. With so many developments taking place in the area, it is clear to see that there is a demand for property in the area. With young professionals and even foreign students seeking accommodation, there is potential in this part of Manchester.

The Purchase Process

The purchase process is one that will also be favourable to investors who are interested in purchasing at this development.

To begin with, they will need to complete the relevant paperwork and then pay an administration fee of £2,500. Once the exchange of contracts has taken place, 10% of the purchase price will have to be paid. Then, six weeks after exchange, a further 5% of the purchase price is due. Finally, the remaining balance will have to be paid upon completion.

From an investment perspective, this is a development that will certainly work for investors. As mentioned, the demand for this high standard of living is there. This means that investors can purchase and then begin seeing returns almost instantly. What is also interesting is that this development will also offer significant returns on their investment. Therefore, whether it is a one-bedroom apartment or a two-bedroom apartment, returns of between 5% and 6% are extremely favourable. 

For a development that offers an exclusive standard of living with a first-class finish and design, there is no doubt that this development provides a feasible investment opportunity. With exclusive parking offered and easy access to the hustle and bustle of central Manchester, there is a lot to love about this development.