The Mistoria Group have a strong presence in the Salford area of Greater Manchester and we’re often asked by new property investors why we choose to invest in this particular area.
Experienced property investors will know that location is a prime consideration when purchasing property, especially when opening that property to the rental market. Sought after areas make the property more desirable, easier to rent and also enables investors to reap the rewards of higher yields.
Salford has long been subject to a major regeneration project; it recently had the addition of MediaCity which is home to the BBC, ITV, and also includes the Media Enterprise Centre and Media Village which houses over 50 media related businesses – the creative digital hub of Manchester. In addition, the excellent transport links in the form of buses, trains and metro-link straight into Manchester City Centre, it’s easy to see why Salford is the next big place to be.
To add to the hive of activity Salford has already seen and the advice we give to our property investors about the surrounding areas of Manchester being the next big thing, announcements of further developments add weight to our current property investment opportunities:
- The former BBC site on Oxford Road in Manchester is to be redeveloped and plans currently outline supermarkets, hotels, commercial space and a mixture of student and residential housing
- Salford City Council has announced plans to regenerate 500 acres of land in Pendleton. It is anticipated this scheme will create over 1,600 new homes and create an estimated 500 new jobs and 2,000 work experience placements. In addition, this area will also see new sports facilities ensuring the area is enticing to new residents
- Swinton Shopping Centre is facing demolition to make way for a new 72,000 sq ft Asda which is set to generate approximately 250 new job opportunities for local residents. This project is part of a wider project to regenerate Swinton/Salford
Those thinking of investing in property in Manchester would be well placed to explore the surrounding areas. As the above developments progress, there is no doubt that investment properties will increase in value as the area is regenerated and transformed into a desirable place to live.
Many of Mistoria investment properties in Salford are student HMO properties (Houses in Multiple Occupancy). Up until recently, Salford University and the excellent transport links into Manchester City Centre were the main drivers for investing in this area as the location is perfect for the 20,000+ students who attend the uni who previously ranked 81st in the UK by The Times newspaper; now the prospect of future developments makes this area even more appealing.
A great investment property in the right area with a high internal specification ensures that properties are quickly filled with tenants and property investors start to earn a return from day one.