The UK property investment market has changed dramatically in recent years. The introduction of creative, forward-thinking development concepts has changed the way that many investors view their property assets. The ability to mix and match exposure to different types of property, different sectors and different areas of the country offers a more balanced approach than the acquisition of a standard buy-to-let apartment.
City centre regeneration is ongoing across many parts of the UK with areas such as Manchester undergoing a serious facelift. The introduction of high spec apartment developments with shared facilities, secure parking and breath-taking views over the city, has not only changed the way people invest but also the way we live. Companies such as Alliance Investments have a very strong exposure to Manchester with new development apartments valued upwards of £220,000.
We know that Manchester has an extremely buoyant financial sector, strong retail market and is central to a growing northern economy. This is an area of the UK which boasts 85 FTSE 100 companies, 25,000 businesses operating within the city centre and a growing student population. The graduate retention rate is around 70% which reflects the growing local economy.
Official statistics also show that the population of Manchester is growing 15 times faster than the supply of housing. The city has a population of 2.7 million and is recognised as one of the most linguistically diverse cities in Western Europe with a staggering 200 spoken languages. It is no surprise to learn that demand for high spec luxury apartments continues to grow with supply rates continuing to lag.
Oxygen Towers, Manchester
Located within the heart of Piccadilly, Manchester, Oxygen Towers will shine like a beacon over the city’s skyline. No expense has been spared in the design and creation of the project with Property Alliance Group cementing its position as Manchester’s No.1 developer. Oxygen Towers is the epitome of 5 star luxury living and includes the following:-
• 345 stylish apartments
• 12 townhouses
• Tranquil sky gardens with breath-taking views
• A 25m swimming pool, jacuzzi, sauna & steam room
• A state of the art gymnasium with changing room facilities
• Secure underground parking with a valet service
• Cinema room & hotel style concierge
Apartments in Oxygen Towers start at £238,000 offering an annual rental yield of 6% and exposure to an extremely buoyant and growing market. The mix of one and two-bedroom apartments will appeal to both young and older professionals working in and around the city centre alongside families & couples looking to downsize. The locality to motorways, the train network, airport, bus services and the tram system have long made Manchester a favourite among property investors.
Investing in pioneering developments
Oxygen Towers is already grabbing the headlines as investors look to secure their exposure. This new development reflects the ever-growing stature of the region, importance to the UK economy and buoyant employment market. The ability to secure rental returns in the region of 6% is extremely attractive especially when taking into account the current UK base rate of 0.75%.
Boris Johnson, the newly crowned Prime Minister of the UK, recently visited Manchester to rubberstamp plans for new infrastructure spending which will improve rail travel in the region. It was also confirmed that the UK government will be investing hundreds of millions of pounds in the area to encourage the current trend for inner-city redevelopment.
Creative pioneering developments outside of the capital have tended to be overshadowed by their London counterparts but this is not the case anymore. Manchester is leading the way (together with Birmingham) with property developers/investors flocking to the area. Strong economic growth, first-class education facilities, huge ongoing investment in infrastructure and a high quality of life are attracting investors like a magnet. This is before we even begin to look at the vibrant and varied social scene across the city.
The population of Manchester is growing at 15 times the rate of housing supply which is creating upward pressure on prices while still maintaining impressive rental yields of 6%. The Oxygen Towers development is both innovative and creative, tempting even more investors to cash in their London property chips and look further north. Who can blame them!