|Project||Manchester Bridgewater Wharf|
|Type of Investment||Studio’s, 1, 2 3 bedroom apartments|
|Location||Manchester, between downtown and Media City|
|Investment from||UK£ 140.000|
|Rental yield||5.4% net rental yield (at present rental prices)|
|Expected completion||Q1 2020|
Manchester is “Hot” with investors. And hence, it is difficult to strike a bargain for foreign investors. New projects are mostly sold out 24 months in advance, even before the digging starts. The same is true for Bridgewater Wharf. As the best apartments (the ones with river view) are gone first, it is best not to wait too long.
With its gym and common rooms, the project aims for the young urbanites: recently graduated professionals that live city life. It is a huge project, with no less then 376 apartments, distributed over 8 floors
Location, location, location
As always, UK-realestate.com prefers middle class projects in the city centres. Manchester nowadays has 2 centres: the historical centre and the futuristic Salford Quays around Media City and the BBC headquarter. An investor normal chooses the one or the other. Except of course if you can find a projects that is in between. Bridgewater wharf is located in walking distance of the historic centre and the economic heart of Manchester in Media City. Ideal for a young family that wants to enjoy city life without needing a car to go around. Bridgewater Wharf is located 500m from Media City, 2km from the historical centre and 13 km from Manchester airport.
For Manchester standards, a price between 2.300£ and 3.500£ is quite affordable. A studio (36 m²) is bought for 118.000, a one-bedroom flat from 136.000£. The luxurious town houses (160 m²) go for 380.000£. Feel free to compare with any apartment on the area on rightmove.co.uk (the market leader for online real estate search) and you know you will be rewarded for the wait.
With present rental prices, the net return (after all management costs and taxes) would hoover around 5.4% (gross around 6.8). As rental prices are increasing around 4-5% per year, you can expect a net return of around 6% at the time of completion in early 2020.
The project is being developped by Fortis, the second largest developer in Manchester, with no less then 18 succesfull concluded projects en 8 under development. Interested? Let us know before the best flats are sold.