Mill Conversion to Residential

Greater Manchester

Greater Manchester

Unmissable commercial to residential opportunity in a high demand rental market combined with assured returns of 8.5% for 5 years

THE AREA

The metropolitan county has an impressive history of inward investment, a strong job market and a business economy to rival the capital's. The region should be firmly on the radar of property investors across the UK, as its impressive yields and fiercely competitive rental market make it a worthy investment.

Population

Greater Manchester has a population of 2.8 million people, and Manchester and Bolton's rapidly-growing populations mean they are two of the most sought-after places to live in the UK. It's no wonder so many choose to live in Manchester and the surrounding areas, when considering that all of the UK's major cities are under three hours away by train, and Manchester Airport is one of the busiest and most well-connected in the world.

Economy 

The region is known for its world-class science, innovation and business, and is currently enjoying a steady stream of investment. This includes a £300m housing investment fund, mass spending on the improvement of public transport services and an extension of Manchester Airport with a budget of £1bn. Bolton's £4.6bn economy is one to take note of too, as it is fast becoming a desirable place to live and work outside of Manchester.

Employment

Manchester is the home to new and emerging technologies that will shape the future such as fintech and genomics. Not only this, but the city is the place to be for creative and digital services, finance and business services and much more. The job market in Manchester has long been one of the strongest in the UK, and Bolton isn't far behind. The town has announced ambitious plans to become a "smart city" where people live, work, study, visit and invest by 2030.

KEY FACTORS

  • Steady rental growth
  • Strongest job market outside of London
  • Excellent transport links to all major cities
  • Population of 2.8 million people
  • Impressive rental yields

THE INVESTMENT

This landmark development makes a great deal of financial sense.

Buyers of all kinds will recognise the value of an appreciating property in an ever-improving neighbourhood. With starting prices from £183,250 and reservations from £9,200, combined with an 8.5% rental returns, this investment offers the security of income and the prospect of high capital growth.

LIMITED NUMBER OF 1 AND 2 BEDROOM APARTMENTS

KEY INVESTMENT FACTORS


  • 15% Annual ROI
  • Initial Deposit 30%
  • Invest from just £9,200
  • 8.5% Assured Yields for 5 years
  • 80% of apartments already sold
  • Upto 75% LTV mortgages available

FOR FURTHER DETAILS PLEASE SPEAK TO ONE OF OUR CONSULTANTS
TEL: +44 (0) 203 961 0090

ADDITIONAL DETAILS

Location Overview

Location:
Greater Manchester, England

Population:
280,400 (+ 16,600 extra forecast by 2022)

Economy:
£4.6 billion (+ £2.9 billion extra forecast by 2034)

Employment:
106,900 jobs (a rise of 2% between 2010 and 2014)
15,500 new jobs forecast by 2034

Key Employment Sectors No. Jobs
Public Sector 27,900
Wholesale/Retail 19,800

 

Other Key Industries

  • Manufacturing
  • Healthcare
  • Logistics
  • Retail
  • Leisure
  • Education

Recent Developments

  • Aldi have recently opened a 5,600 square meter major logistics center in April 2016, the company’s largest regional distribution site in the UK.
  • MBDA – 9200m2 manufacturing facility and offices.
  • Joy Global – £10 million production and testing facility.
  • Exeter Property Group – 33,000m2 distribution facility.
  • Lidl – 177,000m2 site acquired to support ongoing expansion.

Key Facts

Key Facts – The Development

  • A landmark building close to Bolton town centre
  • A former textile mill, originally built in 1884
  • Now being converted and extended to a high specification
  • Building will feature a gym, spa, swimming pool and cinema room
  • 124 top quality apartments to be created on six storeys
  • A mix of highly marketable one, two and three bedroom properties
  • Completion date Q1 2020

Key Facts – The Investment

  • Rental yields of 8.5%
  • Highly attractive pre-market prices
  • Reserve with a payment of only 5%
  • Excellent capital appreciation potential
  • Massive demand for Manhattan loft-style apartments
  • Set in an area of significant inward investment

Key Facts – Bolton

  • A major town in Greater Manchester
  • Property prices benefiting from the Manchester ripple effect
  • Receiving ‘Northern Powerhouse’ funding
  • Likely to benefit from new HS2 / HS3 rail links
  • A local economy worth £4.6 billion
  • Rising employment and a rising population
  • Over £1 billion of inward investment recently secured
  • £260 million recently invested in the town centre
  • A further £100m of projects due to begin in 2017

Development Overview

According to Manchester Council’s Economic Factsheet, the single largest increase in employment occurred amongst corporate managers and directors, whose numbers grew by 4,000 between 2014 and 2015. Scientific and technical professionals represented another big growth market, increasing by 2,300 over the same period.

There seems little doubt that with so much local investment aimed at boosting high value, high skill industries, Bolton will see a steady escalation in demand for top quality accommodation aimed at the discerning professional market.

Recognizing this, the conversion scheme is seeking to create some of the most desirable new properties in the town. For residents, it will provide luxurious town center lodgings, while for investors, it promises ready demand, easy affordability and guaranteed yields of 8.5% for 5 years.

  • A convenient location, just 500m from the town centre
  • An exceptional specification
  • 124 Manhattan style apartments
  • One two and three bedroom properties available
  • Aimed at the profitable professional market
  • May be rented out as fully serviced apartments
  • Many sustainable design features, including biomass boiler
  • Exceptional rental demand
  • Demand set to rise further in the coming years

Flythrough Video

DOWNLOAD INVESTMENT GUIDE

With one of the strongest job markets in the UK and one of the largest student populations, it is no wonder rental yields in Manchester remain so high. Find out more about why you should invest in buy-to-let property in Manchester with our handy investment guide.

Join our Investment Hub for privileged access to our latest developments, their availability and exclusive rates.

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Solomon Investment Partners in relation to its investment products.