Manchester is fast becoming one of the most popular places to invest in the UK. As part of Property Alliance Group, we know exactly where the best areas are for developments in Manchester – a region that is teeming with economic, cultural and social activity.
Thinking of investing in Manchester property? Here are the four top areas of the city where rental demand is reaching new heights…
Ancoats and New Islington
It was only two years ago that The New York Times christened Ancoats as a premier tourist destination. Manchester property has been performing well in this area for a while now, driven by an abundance of space – both for conversions and new developments – as well as the waterside view. The mills and canal loop around an irrepressibly varied community, just a stone’s throw from the Etihad Stadium.
There’s a great startup mentality for eateries and cafés; invention has somewhere to prove itself. It’s a vibrant, youthful scene that is close to (yet far enough removed from) the city centre.
You may have heard of the HS2 high speed railway line: something that will utterly transform the ease with which Mancunians can get to London, Birmingham and other parts of the country. It is centred on Piccadilly station, a short distance from Ancoats – and that bodes incredibly well for the developments around Piccadilly itself.
Oxygen Tower is one such site. It’s just off Store Street leading to the right flank of the station. Residents tend to pass gyms, breweries and niche leisure outlets on their way to work, whilst the sprawling grass of New Islington Field lies 10 minutes away.
The Manchester property market is flooded with history, but few sections more so than Castlefield on the city’s south-west side. Throughout history, it has been a cornerstone of those looking to invest in Manchester, with many of the former textile houses reshaped or fitted out for residents, offices and collective art spaces. The area’s omnipresent popularity means it never stops expanding.
Its cobbled walkways are a distinctive feature, leading you to high-class restaurants in Spinningfields or the Museum of Science and Industry a little closer to home. A small community feel pervades those who live there. Summer, especially, sees Castlefield residents out in force, relaxing on pockets of greenery or exploring venues like the famed Albert’s Shed. Two developments in particular – Excelsior, a former book-binding works, and the 20-storey River Plaza – are infusing a new, modern character to this venerable side of the city.
The Green Quarter
Further north, up Great Ducie Street, lies the Green Quarter – a much-in-demand spot for Manchester developments. Numerous apartment sites have sprung up over the last three or four years, and the good news is that more are coming. The Manchester property market isn’t close to saturation. There are enough jobs, transport links and working couples to facilitate consistent yield growth in this area.
One site in particular – Uptown – has much to offer for rental returns. It’s a tall, modern work of residential art, with a roof garden, viewing terraces and floor-to-ceiling windows across 52 apartments.
Great Ducie Street is undergoing a full regeneration. So learn what Enigma stands to gain from the urban renewal on its doorstep, just as it promises 15% on exchange costs right now, instead of the usual 30%.
Manchester developments are only going to court more attention. We want you to be here when they do, and join the current explosion of residential investment. Speak to us for more details on how you can get in on the action in 2019!