- Prices from £139,950
- Projected 6% Rental Return
- £1bn Regeneration Zone
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Property Investment in Manchester is rapidly multiplying and reshaping the city’s skyline – meaning that now more than ever is the time to consider a Manchester investment. The city is quickly establishing itself as one of the nation’s leading property investment markets. Manchester apartments offer high rental yields and the promise of capital gain, with a recent study by Hometrack having revealed that the Manchester buy to let market is the third most valuable in the country.
As the first industrialised city in the world, Manchester is an urban metropolis with many impressive statistics to its name. It was the birthplace of the world’s first public library, the world’s first computer and home to the world’s oldest train station. However, Manchester has blossomed into more than just a centre for history and tradition. Its heritage now sits alongside masses of regeneration and investment which have elevated the city to a first-class destination for buy to let property.
Manchester property investment is on the rise as its prominence in the Northern Powerhouse overtakes most UK cities. Investors are being made aware of the opportunities to be had in the successfully revived, post-industrial region in the North of England. The city is proving to be a big hit for both residential and student properties.
Improvements to connectivity, skills and education, plus innovation sectors such as science and technology are all areas receiving attention in line with the Northern Powerhouse strategy. Significant cash injections are being witnessed across Greater Manchester’s entire area. Notable infrastructure spending will make Manchester one of Europe’s best-integrated cities with seamless transport solutions for its citizens. Helping to raise Manchester’s profile and cement its status as a key investment zone, the Northern Powerhouse scheme has boosted the city’s economy and simultaneously fuelled growth in property investment in Manchester.
An exciting and arguably more profitable alternative to London property, Manchester is driving the North to overpower and dominate the South of England. Experienced, local developers are playing a big part in evolving investment property by constructing some of the most exciting and cutting-edge developments on the market. Despite a growing number of people desiring to live within the limits of this urban expanse, it’s not only buyers purchasing personal homes flocking to Manchester for property.
The Manchester buy to let boom has well and truly arrived with investors selecting the city for both new builds and refurbished buildings. The Manchester buy to let market has grown considerably, uniting 21st-century investors with superior and lucrative investments. New developments are tailored to the city’s whole host of tenants that range from students and young professionals to couples and families.
Unique circumstances in the local economy have created optimum conditions for the Manchester property market, favouring investment in the city region. Greater Manchester’s population is expressing positive trends, with the 2.7 million people currently living in the area expected to grow by 2.31% over the next 12 years. More specifically, there has also been a growth of 149% in city centre zones with a number of the inhabitants under the age of 30.
As the third largest city in the UK, it boasts a wide range of employment opportunities. Job growth of 84% has been recorded since 1998 in Manchester’s core districts and explains why so many of Manchester’s city residents tend to be millennials. Employment growth in the city is predicted to soar over the next five years and exceed many international capitals including Paris, Berlin and Tokyo.
The fantastic prospects available are behind the city’s attractiveness to working professionals as Manchester works to become a global contender for providing jobs. Meanwhile, younger tenants are perfectly suited to Manchester buy to let properties as they are expected to rent for the majority of their lives. With young people snapping up new jobs and looking for apartments to rent, Manchester city centre is a go-to destination for living in close proximity to the workplace whilst enjoying an urban lifestyle.
The tenants are certainly there for properties in Manchester, but the city’s significant undersupply of housing cannot keep up with the staggering population. What is deemed ‘the housing crisis’ by many comes as positive news for buy to let investors. Whilst its skyline is welcoming new projects every month, development cannot keep up with the relentless population growth. When faced with a healthy demand for property against a lack of stock, properties can naturally assure much higher rental yields due to increased demand.
For rental returns on property, Manchester’s yields are higher than London and most other locations in the UK. Some of its postcodes make it into the top 25 buy to let areas in Britain, with yields as high as 9% factoring in all deductions on property assured for multiple years in a reflection of market confidence.
Working alongside rental yields to establish prime investment opportunities, house prices provide another reason to invest in Manchester. With an average property price of £175,312, Manchester properties are well below London’s average. Despite this, the value of property in areas of interest throughout the city is increasing at a rate which maximises capital gain for investors. Experiencing the fastest house price growth in the UK, investors can establish a clear exit strategy for the future with assurance that their property will have undergone capital appreciation for a healthy profit.
There are several up and coming areas in Manchester which are receiving substantial investment to regenerate and revive the industrial city. Spinningfields is a pinnacle development encouraging property investment opportunities in the surrounding area. Costing £1.5 billion and constructed in the early 2000s, the financial district has a cosmopolitan feel flowing from a number of designer shops, first-class restaurants and fashionable bars lining its parameters. For those looking for high-end apartments to rent, Manchester’s Spinningfields is where to head first.
In addition, NOMA is an £800 million 20-acre mixed-use regeneration scheme led by two UK institutional investors, Co-op and Hermes. Based in the North of Manchester, it is the largest development in North West England and the largest project in the UK outside South-East England.
Further plans include Manchester City Council’s £1 billion deal with the Abu Dhabi United Group (ADUG) to build 6,000 homes in the city’s fringe areas. Moreover, the £600 million New Bailey, situated next to Spinningfields, is an exciting new extension to Manchester’s Central Business District comprising 2.2 million square foot of new offices. The first phase was completed in 2015. An extra £1.35 billion is also being ploughed into St John’s – a development at the old Granada Studios site. A district promising to be a hotspot for culture and creativity will have a £110 million Factory Theatre and six intertwining towers.
Manchester Waters is the name for the extensive regeneration of a former 26-acre dockland site and is one of the largescale rejuvenation opportunities close to the heart of the city centre. A formal masterplan for Manchester Waters has been approved and adopted by both Trafford and Manchester City Councils and includes the potential to develop over 2,500 new homes.
MediaCityUK is a creative business hub worth £200 million. The 200-acre hive for media, digital and creative industries is home to the BBC and ITV plus other high-profile broadcasters and studios. Set to double in a huge £1 billion expansion, the development has put Salford Quays on the map for Manchester property investment. When it comes to property, Manchester’s MediaCityUK is a landmark for investment properties in the area.
Manchester Airports Group has signed a joint venture deal with Beijing Construction Engineering Group and the Greater Manchester Pension Fund to accelerate the development of the £800m Airport City scheme. Moreover, Manchester airport is the largest UK airport outside of London with flights to more destinations than any other airport in the UK. An investment to transform the airport and surrounding area for rapid expansion of business, aviation, science, and biotechnology industries is now taking place.
Also linking to transport, Manchester train stations are at the heart of the new High-Speed Rail. The highway will connect the city with London, Leeds and the Midlands as part of an ultra-fast, network with trains travelling at up to 250mph. As a central city within the UK, the £56 billion railway will enhance Manchester and its property investment opportunities.
Manchester is responding to its new city centre population by providing conveniently located, modern and stylish accommodation tailored to young professionals. With residential blocks providing a way to house maximum tenants whilst taking up minimum urban land, apartments are a trendy, sustainable and profitable form of investment with amazing views of the city centre.
Manchester studio flats present lucrative property investment opportunities as they are ideal for single tenants looking for a compact space in the city centre. With distinct living areas such as a kitchen, dining room and lounge all integrated into the studio layout, residents can live harmoniously in intelligently designed apartments with little maintenance required – a perfect recipe for urban living.
Furthermore, one and two-bedroom apartments are also popular in Manchester and top picks for investors. With a high number of young couples and friends looking for shared accommodation in the city centre, there is a healthy demand for these kinds of properties. The best apartments feature bedrooms with deluxe en-suites, with open plan and separate living spaces available.
In another aspect of property development, Manchester has shown a strong focus on new builds. Manchester property is introducing newly built developments with state-of-the-art facilities, high-quality furnishings and advanced, energy-saving technologies. Younger tenants are demanding more on-site facilities and fashionable extras such as mood-lighting and underfloor heating which equally appeal to those investors requiring a property fit for the future.
However, the city is also taking advantage of its industrial past with derelict warehouses and mills being successfully converted into five-star living accommodation a big contributor to Manchester property growth. Complementing contemporary fixings and modern interior schemes which are commonly implemented throughout new property, Manchester buildings have period features and traditional architecture to create balanced and chic living locations.
Salford is one of the UK’s most exciting regeneration areas and attracts significant interest from property investors with its wide range of residential and commercial opportunities. In prime position, one mile west of Manchester city centre, Salford is making a name for itself as the UK’s leading hot-spot for startup businesses. According to a recent study by DueDil, 1,393 new companies launched in Salford during the first quarter of 2017, an increase of 85% compared to the same period in 2016…
Much of this success can be attributed to MediaCityUK’s thriving network of major corporations and ambitious startups. Salford’s popularity with tech creatives and entrepreneurs has generated significant demand for high quality residential property. With a host of new projects in the pipeline, investors are watching closely as an exciting era of innovation unfolds in this historic town.
MediaCityUK is a 200-acre mixed use property development that reaches from Salford Quays into Trafford Park. The complex is home to a diverse range of companies ̶ from digital startups to major organisations ̶ with the BBC, ITV, and BUPA among the big name tenants. The sheer number of businesses attracted to MediaCityUK has generated a thriving property investment market, both within the development itself, and across Salford and Trafford…
This vast plot on the Manchester Ship Canal wasn’t always a gleaming business district. The transformation from industrial docklands to commercial hub began in the mid-1980s following the decline of UK heavy industry and the closure of Salford Docks. In 1985, the Salford Quays Development Plan was unveiled and one of the UK’s largest ever urban regeneration projects began. As the development took shape, attractions such as The Lowry and the Imperial War Museum moved to the area and signalled a new era of prosperity.
The concept for MediaCityUK was inspired by media clusters in Dubai and Singapore, in direct response to the BBC’s announcement in 2004 that it would relocate several departments from London to the north. In the face of strong regional competition, the BBC chose Salford Quays as its site. Developed by the Peel Group, Phase 1 of construction on MediaCityUK began in 2007.
With over 11,000 businesses and boasting the highest productivity per head in Greater Manchester, Trafford is one of the North West’s most economically competitive areas. Four kilometres west of Manchester city centre, Trafford attracts strong interest from residential property investors looking to capitalise on demand for luxury apartments aimed at young professionals. The highest concentration of commercial activity is within Trafford Park, which claims to be the first purpose-built industrial park in the world…
Home to 1,330 businesses employing over 35,000 people, Trafford Park’s melting-pot of business and industry ranges from manufacturing, warehouse and distribution, to national media outlets, and a growing cluster of digital enterprises. The Intu Trafford Centre is the second largest retail park in the UK and attracts 35 million visitors per year. In 2011 the Trafford Centre was bought by Intu Properties for £1.65 billion, breaking all records for the largest single property acquisition in British history.
Trafford’s most famous resident is Manchester United FC, while Lancashire County Cricket Club are also based here. Lancashire’s stadium is a frequent venue for England cricket matches. Both the football and cricket stadiums are called Old Trafford. The quality of its schools – which consistently rank among the UK’s top-performers – is just one of the many reasons Trafford has become such a popular place to live. And with the extension of the Metrolink line between the Trafford Centre and Pomona opening up the region, the long-term residential property investment market offers highly favourable conditions.
Spinningfields was developed in the 2000s as the city’s high-end commercial centre. Despite encountering turbulence during the economic crisis, Manchester City Council noted that by 2010 Spinningfields accounted for 35% of the city’s prime office space, and that 16,000 people were employed in the area…
Manchester’s answer to Canary Wharf, Spinningfields houses a wide range of blue-chip firms, including Barclays, BDO, and BNY Mellon. UK law firm Weightmans is among the big names set to follow. The final piece in the jigsaw, No.1 Spinningfields is set for imminent completion and will comprise 300,000 sq ft of office space.
The Northern Quarter is widely regarded as the axis of Manchester’s famous social scene. From independent shops and emporiums, to off-beat bars and restaurants, the Northern Quarter attracts young professionals looking balance out working life with the weird and wonderful. As compact as it is cool, the Quarter comprises Oldham Street, Thomas Street, Church Street, Newton Street, Stevenson Square and the roads in between. The Northern Quarter’s vibrant rental market tends to centre around loft spaces and purpose-built apartments. Manchester’s burgeoning network of digital startups means this is one area property investors will be watching closely in the years ahead.
The Manchester Arndale Centre is the hub of the central retail district and attracts some 41 million visitors a year. One of the largest shopping centres in the UK the Arndale Centre dates back to the 1970s and has witnessed significant investment over the years. It currently has around 1.5 million sq ft of retail space.
Open since 2014, NOMA is a 20-acre mixed-use development adjoining Victoria Station in Manchester city centre. Driven by a vision of sustainability and sympathetic urban regeneration, the complex is a work in progress and combines state-of-the-art office space with cafes, restaurants, events and communal space…
Further phases are in the pipeline over the next 10-15 years, and once complete, the area will feature 4-million sq ft of offices, along with apartments and a host of other facilities. The centerpiece of NOMA is the £100 million One Angel Square, but a host of ambitious proposals are set to upstage it in the years ahead. The residential property market in around NOMA is among the North West’s most exciting propositions.
In 1800 Liverpool surveyor John Foster Snr laid out plans for a new area of housing east of Rodney Street. Over the next 100 years, elegant rows of houses were built, mainly in Georgian style, and populated by Liverpool’s wealthy elite. The streets were laid out in a distinctive grid structure and offer one of the finest examples of Georgian urban design anywhere in the UK…
Classified as an Innovation District, the zone facilitates collaboration between health, science and technology clusters, startup businesses and academic institutions. Manchester Science Park is already home to a thriving community of over 125 innovative science-based businesses, employing over 1,500 people across eight buildings. The Science Park is in perfect proximity to University of Manchester, Manchester Metropolitan University, CMFT, and the city’s leading cultural venues. Over the next nine years the science park is forecast to create 5,400 new jobs, with huge capacity for further commercial floor space.
Manchester Airport is the third busiest in the UK and has direct connections to many of the world’s major cities, including Beijing, Singapore and Los Angeles. Airport City is an £800 million expansion, encompassing on-site office, retail, leisure manufacturing and logistics facilities. It is the only one of its kind in the UK…
The site, which opened in 2016, was initially declared an enterprise zone in 2011. In 2013 the Beijing Engineering Group become the largest single investor in any British project when it announced it would inject £800 million into the development.
It is forecast that by 2036 Manchester Airport will increase its number of passengers to 46 million, driving global commerce to the region through direct flights and the world-class facilities on the ground. Manchester city centre is just 17 minutes from Airport City.
Sportscity is a multi-purpose sporting complex 1.5km east of Manchester city centre. Manchester City FC play their home matches at the Etihad Stadium: originally built as the athletics stadium for the 2002 Commonwealth Games, the Etihad has a capacity of 55,000 and has been part of the team’s transition from underdogs to Premier League Champions…
In 2014 Man City unveiled their staggering £200 million training complex. Featuring 16 football pitches, three gyms, six swimming pools and much more, the facility is the crowning achievement of Sheikh Mansour’s investment in the club. Sportscity is also home to British Cycling, who are based at the Manchester Velodrome, which was completed in 2011 along with the National Indoor BMX Arena. The National Squash Centre and the Manchester Regional Arena for athletics are also within the complex.
Manchester city centre is served by the Metrolink, a light rail and tram system that reaches out to Altrincham, Ashton-under-Lyne, Bury, East Didsbury, Eccles, Manchester Airport, and Rochdale. The service is operated by Transport for Greater Manchester (TfGM) and construction is currently underway to extend the service between Pomona and the Trafford Centre…
The city has national rail connections at Manchester Piccadilly, Manchester Oxford Road, Manchester Victoria, and Deansgate. With more than 25 million passengers transiting between April 2015 and March 2016, Manchester Piccadilly is the UK’s fourth busiest station outside of London.