At the end of September 2013, Knight Knox International reported 100% year-on-year growth for the third year in a row, confirming the company’s continued rise within the residential investment property sector.
Offering an extensive range of property and services worldwide, the focus has shifted over the past two years as the firm concentrates on a more UK-centric offering in the form of residential, city centre apartments and student accommodation developments in prime cities and towns across the country.
This UK focus is something that is perfectly evident from the firm’s sales figures reported from 2012/2013, which show that 80% of all sales were for properties in the UK, figures no-doubt boosted by the 18 exclusive UK developments launched by the company in the past 12 months (over 2,500 units), whilst the remaining 20% were from the firm’s strongest overseas’ investment markets – Thailand and the USA.
Over the next six months, the company plans to release a further 1,000 residential units onto the Greater Manchester property market with a combined value in excess of £100million. Comprised of 1, 2 and 3-bed apartments, in locations which are ideal for both city centre workers and commuters alike, their forthcoming portfolio of properties will contribute greatly to the severe shortage of rental stock in the region.
By focussing on regional cities like Manchester, the firm is purposefully targeting cities where there has been little-to-no construction in the private residential sector over the past four to five years.
Investors can purchase units at a relatively cheap price in Manchester when compared to other cities, yet still claim average gross rental yields of 7.6%, with renters willing to pay higher prices to reside in this cultural hub. HSBC also named Manchester as a ‘Top Four UK Buy-to-Let-Hotspot’ in a study carried out this April, confirming the high-performing rents that landlords can retain when investing in Manchester. Investors can also expect to receive these high-performing rates over a long period of time, with the National Housing Federation predicting that rental rates will grow in the city by 36% by 2018.
Identifying the latest property trends is a tactic that has enabled Knight Knox to stay ahead of the competition, attracting both first-time buyers and portfolio investors with the quality of the developments it has brought to market.