With the creation of MediaCityUK, Salford immediately started to gain popularity and reputation for being such a vibrant business centre as it managed to attract industry giants such as the BBC and ITV. Nowadays it appeals to a huge array of investors and developers alike, who are realising its true potential. By the end of the first quarter of this year, Salford City Council has granted planning permission for just short of 3,000 houses and 11,000 new apartments. Additionally it is estimated that the city is expecting a total of over £3.5bn of investment into non-residential property, spread over the duration of the coming decade.
Thanks to an immense array of new housing schemes the city’s housing market is now booming. Online property portal Zoopla reports that the value of homes shot up by an impressive 12% in the first half of last year alone. It is not surprising then that the area was titled the UK’s leading “property hotspot” by HSBC back in 2014. Over the past few years Salford has seen large regeneration schemes across all areas, now worth in excess of £100million - these schemes have literally transformed the area, breathing new life into the city’s once-outdated scenery.
Various sources report that outside of London, Salford has one of the fastest growing populations. In the year leading up to mid-2015, its population increased by 1.3% - now standing at an impressive 242,040 people. Additionally, its economy is currently experiencing a massive upsurge. With a growing economy, strong housing market and skyrocketing population, Salford is set to remain a property hotspot for many years to come. It offers investors everything they could possibly ask for: Large-scale regeneration schemes and projects such as the proposed HS2 speed rail network ensure a continuing high demand for rental accommodation in the city, which in return will result in even higher yields for investors.
The latest addition to Salford’s thriving buy-to-let market is Bridgewater Point – a stunning residential development featuring 207 apartments and a range of beautiful townhouses. Situated on the border to Manchester city centre on Ordsall Lane, Bridgewater Point not only provides residents with a luxurious living experience, but also offers them a beautifully landscaped communal garden area.
To take advantage of this excellent buy-to-let opportunity, or receive more information about the development, get in touch with one of Knight Knox’s property consultants today and call +44 (0)161 772 1370.