There have probably never been more factors at play in the UK property market than there are right now. The national market is pausing for breath as it reaches the end of the cycle which started with the credit crunch. 2016 saw stamp duty changes as well as the Brexit vote, and the impact is very much still being felt. The result of the election has added to the uncertainty surrounding the economy.
This will potentially be terrible news for some… a major part of the A6 will be closed from July 24th for 12 weeks as essential repairs are being done to the bridge below. The area in question runs between Exchange Street (Near the Garrick Theatre) and Heaton Lane, with both lanes permanently shut throughout this time. You might want to start researching alternative routes!
This months Buy to Let Investment property is located close by to Stockport Town Centre on Gill Street in SK1. The double extended semi-detached property boasts four bedrooms and sits on a generous corner plot. We estimate a monthly rental income of £850 which, based on paying the current asking price of £169,950, creates a yield of 6%.
Cafelito opened its doors this week to its new Stockport Exchange branch and business is booming. The local coffee shop/eatery sits next door to Sainsbury’s local and is the final piece of the puzzle of Stockport Exchange’s second phase. I passed by yesterday and seeing the buzz in and around the café gave me a real insight in to the potential of the finished scheme. Cafelito can be found on their Facebook page.
Struggling for things to do with your kids? I may have the answer. Walthew House in Shaw Heath are hosting Little Chefs cooking classes every Friday between 16.15pm and 17.15pm. The classes are for children aged between 2 and 5, and their parents, where you can explore a varied range of different recipe’s. You can pay per class at £9.50 or there is a monthly rate of £7.50 per session.
I hope you are all well. As per usual I have been perusing Rightmove and have today found a fantastic new investment opportunity for you in SK1. Some of you more saavy Investors will already know all about the exciting changes coming to the SK1 area and the investment that Stockport Council are putting into the area to change the ‘face’ of the town centre and in turn, change the perception of Stockport. One of the main focuses for the Council is to create an area in central Stockport that young professionals, perhaps even first time buyers, want to invest in and spend time and money socialising in. Consequently over the next few months and years we are going to see Stockport Town Centre change significantly and properties such as the one I have to tell you about today will be popping up all over the area.
Today, I want to tell you about a ten floor development boasting 100 stunning apartments for sale at fantastic, off-plan prices! The properties have just come to the market for Sale with Vestivia LLP and are due for completion in August 2018. To reserve one of these incredible one bedroom apartments off plan you just need a downpayment of £2,500 to secure the sale.
Now, lets get down to business… We all want to know what kind of yield these apartments will provide in return for the investment. Well, just around the corner from this property is a brand new development called ‘Archer House’ these one bedroom apartments completed in March and here at Julian Wadden Estate & Letting Agents we rented them out for £600pcm. The finish of the apartments in Archer House were to a very high standard with beautiful high gloss kitchens and built in appliances, which I believe these new apartments will also be able to achieve.
Therefore, for an investment of £97,625 you should be able to rent the apartments for between £600pcm and £650pcm which would give you a yield of between 7.38% and 7.99%.
For more information please contact me in the Stockport Exchange Branch of Julian Wadden on 0161 474 8668. I shall look forward to speaking with you soon!