stockport exchange – phase two now complete

Following on from the successful completion of the pedestrianised public space next to Stockport Train Station and the recent opening of The Holiday Inn Hotel, phase two of Stockport Exchange is also now complete. It comprises of 50,000 sq ft of Grade A office space, spread over 5 floors, with commercial space to the ground floor, part of which is now occupied by Sainsbury’s Local.

Find out more here…

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when is the best time to sell or let your property in stockport?

One of the main questions we are always asked is: when is the best time of year to sell or let a home? While there is no absolute optimum time to put your property on the market, seasonal patterns can affect buying, selling or letting habits. It is no different in Stockport, with certain times of the year proving to be more fruitful than others.

Spring is often considered the season when the market picks up and hits its stride. The warmer weather and lighter evenings give people extra motivation to go on viewings, while the bright daylight can help your home look that extra bit lovelier. Your garden (if you have one) will also seem much more appealing in the spring months. It turns out that Stockport saw 26.0% of properties sell during the months of spring.

August and early September can be a quiet time for the property market. The schools have broken up for the summer and lots of people go on holiday around this time of year. That means there are fewer people around for viewings — especially families. It is a different story in June and July though, which can be the busiest months for selling homes, with the market peaking before the schools break up. The summer months saw 28.1% of properties sold in Stockport.

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meadow mill on water street is set to be developed soon

There has been a lot of talk over the last couple of years about what will become of Meadow Mill, however, the property has now changed hands and an application has been submitted to Stockport Council’s Planning and building department. The initial application is for 217 apartments, plus a ground floor made up of commercial and leisure space. It has the potential to be a fabulous development, and will bring with it vital job opportunities.

Follow the planning application here…

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does your sleeping pattern mean you don’t sleep throughout the night… look for investment properties in this time, like me!!

So, I constantly annoy my other half as I am always awake during the night for at least an hour; playing on my phone and reading things.  I must say in this hour I am very productive!  People have worried about me over the years due to my weird, irregular sleeping patterns, but today I celebrate an article telling me I am normal. (As an aside you can view this article here if you like… DAILY MAIL SLEEP ARTICLE!)

Now that I have shared this with you, I would like to explain why I am telling you this.  I spent some time in the early hours of this morning (between 3am and 4am) awake (again!) but this time I decided to look on rightmove.co.uk for investment properties in Stockport.

I am spending many of my working hours enthusing about the Stockport area and assisting other people find investment properties in SK1, SK2 and SK3 or simply giving people who are calling me directly in the office what to buy, where to buy, why to buy in Stockport and telling them that if this is the way they would like to invest to do it quickly!!  Properties are going under offer at the asking price, not 10k-15k below, there are very few dooer-uppers as a lot of the beautiful terrace properties have already been ‘done’!

Once these properties have been purchased by the lucky buyer I am simply dying to get my hands on them (the property, not the buyer!) to take the photographs and produce floor plans and market them for Lettings.  I love this part of my job as its like a large team of people, investors and Estate Agents all working together to develop an area – in our case Stockport and we are really on a mission.

This morning during my awakening hours (see I told you there was some relevance) I found this little (well HUGE) superstar of a property… RIGHTMOVE – BRIDGFORDS PROPERTY FOR SALE.  Now I understand that not everyone will have a cool £765k spare but I felt really excited seeing this property.  Yesterday I met with a local investor and seeing what a fantastic job he has done with a huge, previously run down and dilapidated building, that was in desperate need of renovation, and I felt really inspired.

Here’s some more information about the property and an idea of a rental yield…

  • 7x One Bedroom flats (wow!)
  • 3x Studio Apartments (great!)
  • 1 Large Management Office (perfect for me…)
  • Currently netting £3000 per calendar month (that’s not bad…)
  • Tenants on Rolling Monthly Contracts – therefore no tenants in situ (great… no worries about having to wait for contracts to end)
  • 1 Acre of Land (…. brain ticking… does it have planning permission…)
  • Huge Basements running the entire length and breadth of the building adding on more development potential (… oh yes, yes, yes…. CONVERSIONS!  Another 4 flats perhaps?)

 

Currently the apartments in their raw state are netting £300 per apartment per month so a total income of £3000, which gives a 4.71% yield.  This is acceptable and not too shabby, especially for doing nothing at all.  But with some investment and some imagination what could you have…

However, with some spending on the property itself, renovation of all the flats (10 flats in total netting a healthy £500pcm once improved), development of the basement (providing another 4 flats at £500pcm) totalling an income of £7000 plus per calendar month and a £150,000 spend minimum for the works the yield would be around 9.18%. This is fantastic, I am wooping for joy and already spending my income…!!

Oh and do remember that Stockport is changing and the potential for the property to appreciate in value is untold… there is growth there just waiting to happen.

I cannot help but be excited by this property and just wish whole heartedly that I could afford it! POTENTIAL, POTENTIAL, POTENTIAL!!!

A girl can dream… (note the link back to sleeping!)

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stockport underbank’s granted 1.8M lottery grant!

Stockport Council and Stockport Heritage Trust have beaten off stiff competition and secured a 1.8 million pound grant. The grant is being supplied by the National Lottery’s Townscape Heritage Programme, and is aimed at transforming Stockport’s Underbanks. It is a fantastic victory for Stockport, and is timed perfectly with the Council’s plans to develop Merseyway and other local landmarks.

Read the full story here and see how you can give your opinion on where the money is spent…

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overview of the stockport market structure

The total number of property transactions and the mix of properties are strong indicators of the buoyancy of the local property market in the area. The adjacent chart gives an indication of the changing market structure in Stockport. We estimate that 108 flats, 580 terraces, 613 semis and 141 detached properties were sold in 2016.

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cheadle based alcohol producers create 89 calorie lager!

Cheadle based alcohol producers, Skinny Booze, have created a 4% lager that is only 89 calories per bottle. As well as being low in calories, the lager is also gluten free and vegan friendly, and is growing more and more popular… they don’t just produce lager either, they currently have low calorie Gin and Wines available!

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thinking of investing your money… look no further, we have a fantastic investment opportunity for you!

You will frequently hear people say… ‘the safest place for your money is in property’, and they would be correct.  If you have some spare money my advice would be to find a reasonably priced property (perhaps up to £100,000) and purchase this.  Then find a trustworthy Estate Agent (myself!) and ask them to rent it for you.  If you don’t want to be too active with the property and have tenants calling you at any hour (to perhaps change a lightbulb) then lots of Estate Agents offer a fully managed service, which does exactly as it says on the tin – they fully manage the property for you.  Therefore, you can have your money invested in a property which is appreciating in value and you can have money coming in on a monthly basis to top up your bank account.

Stockport is a fantastic place in the North West to invest your money, as it is currently going through a huge 3 year regeneration program which will see the face of Stockport change dramatically.  So, I have been looking for some fantastic opportunities for you as investors and over the next few months I will be bringing you a range of investment opportunities.

Without any further ado, I introduce you to… BOX APARTMENTS.  We have recently been instructed on this property which is coming to the Sales market with Julian Wadden, Stockport Exchange for £79,000.  I know, I cannot believe it either – £79,000!  Fantastic.  Now you may immediately think, well for that price it is going to need a lot of work and you would be wrong!  The property is located in a new, modern apartment block on Marriot Street, which is where all the regeneration is Stockport is taking place, with the new Stockport Exchange development.  The property is a Ground Floor apartment and currently has tenants in situ, so you wouldn’t even need to find tenants – what a dream! At this point, I am waiting for you to pick up the phone and call us immediately (0161 474 8660).

However, if you need a little more persuading, here are the properties credentials:

  • A well presented, modern, one bedroomed, GROUND FLOOR apartment.
  • Perfectly located within close proximity of Stockport Town centre and convenient transport links.
  • Open plan living space incorporating a modern kitchen, a double bedroom, and a contemporary three piece bathroom suite with in bath shower unit.
  • Set within communal grounds and includes…
  • a DEDICATED PARKING SPACE in Stockport Town Centre

Below are some photographs, as you really do have to see it to believe it!

I would estimate that this property would rent for £500 – £550 Per Calendar Month.  This would mean that if the property was purchased at the asking price your yield would be 8.26% which is a fantastic return. I shall look forward to hearing from you soon…

Gemma Francis, Lettings Manager @ Stockport Exchange – stockportlettings@julianwadden.co.uk

 

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how do residents in stockport get to work?

An analysis of commuting preferences in Stockport shows that the majority of people use a car (69.4%). This is followed by on foot (12.4%), and then bus (10.1%). It will be interesting to monitor how this pattern changes over time given the trend in Stockport and everywhere else to use more public transport and healthier options.

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