(covering SK1, SK2 and SK3)

Month: November 2018

Incredible Investment Opportunity for 10-12 apartments achieving a yield of 7.35% in Stockport (SK2)

Hello Investors, I have another amazing investment property for you this week with a yield of 7.35%.  Just amazing!

Its a huge plot over 4,000 sqft with 2 on site car parks.  The property is currently being utilised as 2 large house shares with a total of 16 bedrooms and 13 bathrooms.  I believe that out of this development you would be able to achieve 10-12 1 bedroom apartments which would each rent for approx. £600 per calendar month to good tenants (working professionals) if finished to a high standard, with modern kitchens and the inclusion of white goods.   This would bring in a return of £6000 to £7200 per calendar month which is £72,000 to £86,400 per annum.

The property is on the market with MBRE for £1 million and the works would cost around £70,000 to £100,000 which, taking into consideration the rental prices, would achieve you a fantastic yield of 7.35% but also in doing this it would significantly increase the resale value.

For more information on this property or for more information on buy-to-let deals in Stockport, please do not hesitate to give me a call on 0161 474 8668.

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HOW MUCH?! 2018’S RECORD BREAKING LUXURY ITEMS, IN HOUSES

  • A number of UK average-priced homes could be bought for the price of some of 2018’s record-breaking, luxury items.
  • In October, a 73-year old French Burgundy wine became the world’s most expensive bottle ever sold. The value of just one bottle could purchase nearly two houses in the UK. For car enthusiasts, the costs go higher. The record-breaking sale of a 1963 Ferrari 250 GTO, was equal to the purchase price of 213 UK homes.
  • Yorkshire born David Hockney broke the record for the highest priced work of art sold by a living artist this month, with a price tag equivalent to 286 UK properties. A month earlier a pink diamond smashed the record for the highest price per carat of any diamond ever sold.
  • In property terms, London’s One Hyde Park penthouse remains the most expensive property recorded as ‘sold’ in 2018. It equates to 655 average-priced homes across England and Wales.
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Piccadilly View – Planning approved on this stunning £30m Town Centre development

I am delighted to announce that we have been instructed as selling agents on this stunning new Town Centre development.

Local developer Sal Arya, of Urbanize Homes, have appointed CPUK to build their brand new 13 storey, 164 apartment building on the former Greenhale House site. The project was given the go-ahead last week by Stockport’s planning committee, with builders due onsite in April 2019.  

The plans for the site include 78 one-beds, 84 two-beds, and two three-bedroom penthouse apartments in a 13-storey block along with a commercial unit at ground floor; this is likely to be occupied by a coffee shop. Nine of the apartments are to be affordable, in line with Stockport’s planning policy.

We are taking enquiries immediately. If you are interested and would like further information then please contact me at andrew@julianwadden.co.uk

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FIRST-TIME BUYER VALUATIONS ON THE UP

The number of property valuations for first-time buyers has risen in all areas of the UK except for London, according to the latest data released this week by UK Finance.

The largest increases in first-time buyer valuations were in the north of the country, where over 43% of first-time valuations are for properties priced less than £125,000. The North East leads the way with an increase of 3.8%, followed by the North West with 3.3%.

Across London, valuations in the first half of 2018 were down 3.9% on a year ago. A quarter of valuations were for properties priced over £500,000, compared to the UK average of just 4%.

First-time buyers are currently facing less competition for a property from buy-to-let investors. In the first nine months of 2018 buy-to-let mortgage approvals across the UK have fallen by 13.5% compared to the same period a year ago.

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Great Buy to Let Investment in Stockport’s Famous Market Place

Hello Readers,

I’ve found this wonderful investment property that I’m excited to share with you! The property has just been refurbished throughout to a high and modern standard yet still retains its period features such as a large leaded arched window. Nestled within the cobbled streets of Stockport’s Market place, this chic property comes with the added benefit of a parking space!

Stockport’s Market Place is in the historic heart of this town so if your looking for something a little special with a rental yield of 5.96% then this could be the property for you. This projected yield is based on a monthly rental of £695.00.

This property is currently being marketed with no chain by Edward Mellor and more information can be found  here: 

Click here for an insight into why Stockport is such a great area to invest in.

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Christmas Panto – Sleeping Beauty at Stockport Plaza

Magically awaken your dreams over the festive season at The Plaza with the North West’s Premier Family Pantomime SLEEPING BEAUTY. Starring the sensational TED ROBBINS and CLAIRE KING who both make a welcome return to the Plaza.

Taking place between November 30th and January 6th

Get your tickets here

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Stockport into best buy-to-let investment area Top Ten

Stockport has entered the top 10 of buy-to-let investment areas in England and Wales, in new data published by specialist mortgage lender LendInvest.

It sits in second place, behind only Colchester in Essex, in the new quarterly Buy To Let Index Reporthaving moved up a whopping 18 places from 20th in last July’s figures. In more excellent news for the BTL scene in the north-west, Manchester is one place below its near-neighbour.

The research looked at each postcode area around England and Wales and focused on a combination of four critical metrics: transaction volumes, rental price growth, rental yield and capital value growth.

LendInvest November 2018

©LendInvest

From these four metrics, Stockport has performed particularly well in capital gains with a growth of 6.34% and has been helped by rents rising by 3.18% over the same period. Strong yields of 5.29%, backed by reasonable figures in capital gains and rent growth, has helped Manchester move two places up in the index and the city’s buoyant property scene seems to be rubbing off on nearby areas. Elsewhere in the north of England, both Leeds and Harrogate feature in the top 20 at 12 and 20 respectively.

The Midlands also ranks highly in the new LendInvest data, with Birmingham joined by Wolverhampton and Coventry in the top 10.

Ian  Boden, Sales Director at LendInvest, commented, “The growing opportunity for BTL investors in these regions reflects a knock on effect of investment in these key cities. Locking down a solid prediction of how the landscape will look into the New Year is no easy task. In this instance, we know it is best to let the data do the talking.”

 

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Stockport is Region’s Fastest Growing Economy

A report by law firm Irwin Mitchell has shown Stockport to be the region’s fastest growing economy!

As  reported in the Manchester Evening News, the UK Powerhouse Study produced by Irwin Mitchell and the Centre for Economics and Business Research, reports that Stockport is the region’s fastest growing economy but Manchester is set to maintain strong jobs growth post Brexit.

Stockport is part way through a £1bn programme of investment that has seen a new business zone offering Grade A office space at Stockport Exchange; the Town Centre Access Plan – TCAP and a new leisure development at Redrock incorporating a new cinema complex and choice of popular restaurants. Phase 3 of Stockport Exchange will provide for another 60,000 sq ft of Grade A office space in a six-storey development adjacent to Stockport Exchange.

Future projects include for a new £85m transport interchange in Stockport town centre which will include the creation of a two acre park and a focus on creating town centre living.

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Attention Stockport Landlords – Are you aware of the tax changes on Buy To Let properties?

Landlords, are you are aware of the imminent tax changes that are potentially affecting Buy to Let Landlords?

These changes were introduced in April 2017 and progressively increase the tax liabilities of all 40% tax paying Landlords who have Buy to Let mortgages. Is this you? The first time you may become aware of this extra tax burden could be when you receive your next tax demand in January 2019.

We are recommending a meeting with our internal Buy to Let Expert to talk you through the implications and potential solutions.

Please call on 0161 474 8660 or email us stockportlettings@julianwadden.co.uk to arrange a convenient time for either a telephone or face to face meeting.

 

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TRANSACTION LEVELS RISE IN AREAS WITH ACCESS TO ULTRA-FAST BROADBAND

  • A quick analysis of sales volumes to date in 2018 indicates that in areas where sales have increased compared to the same period last year, on average virtually half of all properties have access to ultra-fast broadband, with an average download speed of 46.4mbps.
  • In contrast, in those areas where sales have fallen, just under one third of properties have access to ultra-fast broadband and the average download speed is slightly lower at just 42.9mbps.
  • While broadband coverage and speed may well not be the most important factors in choosing which home to buy, their impact on daily life is ever increasing. 89% of adults now use the internet each week, up from just 51% in 2006 (ONS), and a rising proportion of the population works from home for at least part of the week.
  • Upgrade to Inform’s new local demographic pages for analysis of connectivity in your area and check our blog to find out more.
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