• Grove 4

Grove House – SOLD OUT
Manchester, UK

from £99,950· Buy to Let (Sold Out)
Sold

WHY PURCHASE?

  • Circa 7% NET Rental Returns for Two Years
  • An Attractive, Contemporary Development
  • Top 2 UK buy-to-let Hotspots
  • Close to Manchester City Centre and Salford Quays
  • Choice of 1 and 2 Bedroom Apartments
  • Close to Manchester United’s Old Trafford Stadium
  • Excellent capital growth

THE DEVELOPMENT

A highly attractive conversion from commercial to residential property, Grove House is perfectly placed both geographically and stylishly to attract Manchester’s urban professional rental market. It is a totally hassle-free, buy-to-let  development in an area set for capital and rental yield growth.

Grove House is on the periphery of Manchester city centre, handily set in an area with shops, eateries, parks and gardens. A tram stop just a stone’s throw away links it into the rest of this great city and beyond.

Distance from Grove House to:

  • Shops, cafes, bars – 1 minute walk
  • Trafford Bar tram stop – 2 minute walk
  • Old Trafford football ground – 20 minute walk
  • MediaCityUK: 25 minute walk – 5 minute drive
  • Manchester city centre – 6 minute drive, 8 minutes by tram
  • Manchester Airport – 15 minute drive

The Developer

The Developer has built a strong reputation as a specialist in Greater Manchester – their home town – building quality British properties and selling them from Hong Kong to Canada. Over the past three years alone they have sold more than 2,000 student and residential units to name a few.

Grove House is on the periphery of Manchester city centre, handily set in an area with shops, eateries, parks and gardens. A tram stop just a stone’s throw away links it into the rest of this great city and beyond.

The 72 homes will be fitted out to the highest quality, with on-site car parking and landscaping. This will include:

  • Contemporary fitted kitchen with handless doors and aluminium profile units
  • Fan-assisted oven, induction hob, extractor
  • Integrated fridge/freezer, washer/dryer, microwave and (for two beds) dishwasher.
  • Chrome ironmongery throughout
  • LED lighting throughout
  • Key card entry, CCTV in communal areas, secure parking 

High quality furniture packs are a requirement of the purchase, at an extra £2,500 for one-bedroom apartments and £3,000 for two.

THE AREA

Trafford is home to Manchester United, one of the most famous football teams in the world and we were lucky enough to get a good look at the stadium, as you can see from the pics.

Trafford is transforming at a rapid rate and the prices in and around Grove House and flats and houses in Trafford are also transforming! That is, they continue to rise at one of the fastest rates in the UK.

The property is just 10 minutes away from the city centre and 1.5 miles (a 7 minute drive) from Salford Quays. Salford Quays now famously houses major media organisations such as the BBC and ITV, which is why it comes as no surprise that it is one of the top 3 media and digital centres in Europe.

At Grove House, you have the opportunity to buy now before the development is completed, thereby benefitting from excellent capital growth by completion.

THE CITY OF MANCHESTER

Manchester is the UK’s second city, with an urban population of 2.6 million. Massive regeneration of the city centre and Salford Quays in recent years has brought the world to Manchester, Britain’s northern powerhouse.

  • More multi-millionaires than anywhere in the UK outside London
  • 70 of the FTSE 100 companies have a base here
  • 96,000 people employed in banking, finance and insurance
  • The UK’s second largest airport, with more routes than Heathrow
  • Two of the world’s greatest football teams, Manchester United and Manchester City
  • 100,000 students, spread between three world class universities

But those are just the numbers. The real story is the dynamism, the cultural and technical dominance of a truly global city in the middle of a renaissance. It’s a place where people, companies and savvy business minds want to be.

THE OPPORTUNITY

Several financial fundamentals underpin the strength of buy-to-let opportunities in Manchester. Firstly, England has not built enough houses to cope with its rising population, rising wealth and rise in single person households. Shortage in supply has pushed prices up, both for owned houses and rents. That, in turn, lowers the ability of young people to buy, while increasing the yield of buy-to-lets. The result? Millions are left renting well into their 30s and beyond. 60% of tenants are aged over 30.

That shortage is particularly evident in Manchester, a city filled with young professionals, able and willing to pay a premium for quality accommodation, particularly one- and two-bedroom apartments in good areas. The average age of tenants in Manchester is 33, and it is the UK’s number two city for buy-to-let, with a 5% yield growth in 2014, according to the HSBC, taking average rents up to £693.

But that’s not all. Says Russell Quirk, founder of online agency eMoov.co.uk: “With large numbers of jobs generated by the recent developments and property prices in Manchester seeing a rise in recent years the area is bringing in a middle class regeneration and we expect to see increased desirability in the area with demand and prices rising accordingly.”

TO DISCUSS HOW YOU CAN FIND YOUR IDEAL PROPERTY

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