Over the next two years Stockport Council are looking to have transparent discussions with Stockport residents and businesses regarding what land is needed to accommodate the homes, jobs, new infrastructure and local facilities needed in the area, from now until 2035. Here is a short video by Alex Ganotis, Stockport Council Leader, talking about the Stockport Local Plan. You can read all information and have your say by clicking here.
Watch the Leader of the Council talk about the Stockport Local Plan. You can also learn more about it and give your views at your local drop-in events. Find your local event here: www.stockport.gov.uk/localplan
Want to find out more about how to be a fit and proper Landlord and what your responsibilities as a Landlord are? Look no further! Our Lettings Manager at Stockport Exchange, Gemma Lowe has detailed everything you need to know in this video. To find out more information about Letting your property out please call one of our experienced Lettings Managers in Branch.
This week I have been scouring the Edgeley area for a great investment deal and I am pleased to tell you that I have found just the property for you! The property is located on Bloom Street, Edgeley and please do excuse the pun, but it is a BLOOMIN’ good deal!
The property consists of 5 bedrooms, but it has already been split up into flats, so thre are 4 flats in total, broken down as follows…
Flat 2 – A Studio Flat – currently rented at £395pcm
Flat 3 – A Studio Flat – currently rented at £395pcm
Flat 4 – A Studio Flat – currently rented at £410pcm
Flat 5 – A Two Bedroom Flat – currently rented at £550pcm
There is also development potential in the form of a double garage to the rear and large cellars below the property that could be converted to more flats in the future. All of the flats are currently occupied and therefore the total income currently stands at £1750pcm which is £21,000 per annum. This would therefore net you a yield of 7.24%, based on the for sale price of £289,950. With the development potential too, this could be even higher in the future, but as it stands it is currently a very good opportunity for an investor! From the images online (see the link below) the property looks to be in very good condition, with neutral, tasteful decor throughout so no modernisation or works would be required. I also think that on reletting these flats the rent could be a little higher so the Studio’s could be getting £425pcm and the two bedroom flat £600pcm, so that would already increase the rental income per month to £1875pcm and in total £22,500 per annum giving a higher yield of 7.76%.
The property is on the market currently with Edward Mellor in Edgeley but for any information on the potential future rents, or if you would like assistance with viewings etc. please give Gemma a call on 0161 474 8668.
We mentioned in last month’s edition that Stockport Council have big plans for Stockport’s Produce Hall, with it soon to be developed. Now I can confirm that the selection process has started. The selection process runs from now to September 15th, with a decision forecast for this Autumn. If you are interested or know somebody who could be interested then spread the word and express your interest.
The very popular Beatles cover band, Upbeat Beatles, are playing the Stockport Plaza on Saturday 16th September, at 19.30pm. The show takes you on a ‘magical mystery tour’ through the life and times of one of the post popular and infuential bands of all time. It is set to be a great night and an opportunity for most people to re-live some special memories!
Life Leisure Avondale are offering kids holiday camps throughout the Summer Holidays. The day runs from 9.30am to 15.30pm, however, early drop off and late pick up options are available. The fun packed programme is lead by fully qualified sports coaches and included multiple sporting and fitness activities, as well as sessions in the swimming pool.
The profile of jobs is a important yardstick for the makeup of people in a housing market. In this analysis we’ve used data from the Office for National Statistics on the number of people in the local area who work in each industry. The categories are a bit vague but if you look at the longest bars, you can see a pretty good profile of our area.
The data for our area over the last five months reveals interesting fluctuations across property types. The last 3 months are coloured with stripes. This is because the data is still coming in so we’ve estimated what we think they will be when all the data is available.
This chart shows how sales levels in the local area sit now compared with two years ago. The analysis indexes types of property so they start at the same point (100) so you can easily see how they’ve moved in relation to each other. The chart shows the quarter-on-quarter fluctuations typical of local analysis, it also shows how the market has been affected by seasonal change.
Although letting to students used to be considered the bottom of the buy to let market, it’s a very different proposition today. That’s because three key shifts have taken place in the market over the last decade: increased health and safety legislation for all rented properties, the expectation of a better standard of living from this generation of students and the growth of institutional investment.