Birmingham New Street – More Than a Revamp

Posted on    |   Author Craig Muff

Late last month, the primary rail station in England’s second biggest city unveiled the results of a £750m investment to redesign, revive and relaunch the city centre hub. Birmingham New Street Station services 170,000 commuters, tourists and visitors every single day but the out-dated design and state of disrepair has led to the receipt of unwelcome accolades such as ‘UK’s Ugliest Single Building 2003’ and the lowest score of all UK stations in a survey of overall satisfaction just last year.

Read The Landlord Link guide to buy-to-let in Birmingham >

Following five years of behind-the-scenes work and huge financial input, New Street now has plenty more to offer. Developers promise that rather than merely bringing it up to standard, the improvements will propel New Street towards being the busiest and most welcoming transport facility outside of London.

Whilst the previous look of Birmingham New Street Station was centred very much around concrete and steel, the new design includes a football pitch-sized atrium which allows for ample natural light. The entire passenger concourse is now five times the size of that at London Euston and a vast number of escalators and lifts have been installed to allow for easier access between platforms. These additions are aimed at improving the experience of all passengers utilising the station.

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With a view to creating the ultimate in retail convenience, the project has also included the opening of Grand Central – nearly 500,000sq ft. of shopping and dining space – directly above the refurbished train station.

One of the largest John Lewis stores outside of the capital will act as the ‘anchor’ store in the development, alongside other leading names such as Foyles, The White Company, Hobbs, Kiehls and Paperchase. Eateries and refreshment stops include Fuel Juice Café, Caffé Concerto, Tapas Revolution, Pho, Giraffe and Yaki Nori.

Whilst Birmingham has always been a city with plenty going on, the culmination of years of regeneration work is an end product which will undoubtedly attract more commuters, visitors and students than ever before. The new ease of transport, coupled with the range of retail options now on offer has generated a real vibrancy in a city which has sometimes struggled to shift its reputation as being “grey” or “industrial”.

With all of this, plus Birmingham’s existing attractions such as the NEC Exhibition Centres, Cadbury World, Science Museum and one of the best sets of Christmas markets in the UK, there is a genuine buzz around the area. It seems that this Midlands city will be a real hotspot for residents, professionals and investors over the coming years.

Northern Know-how – Why to Invest in Manchester

Posted on    |   Author Craig Muff

Voted ‘Most Liveable City in the UK’ in 2013, Manchester’s growing popularity shows no signs of slowing down. So why is it that demand for property in Manchester is so high? And more to the point, should you be getting involved with buy-to-let property in Manchester? The Landlord Link takes a look to help make up your mind.

One major draw for investors is the rise in average house prices in the area. Greater Manchester and Salford saw an increase of 12% in average house prices last year, almost double that of the 6.5% national average. In parts of the region, housing prices are still 40% below the housing peak of 2008 whilst those in London are up to 40% above; this gap can only be expected to shorten in the coming years.

The economy in Manchester is also expanding at an immeasurable rate. The creation of Media City at Salford Quays has not only generated a blossoming entertainment sector but brought with it an influx in bars, restaurants, cafes and a range of other industries.

Manchester has the largest travel-to-work area of any region in the UK, outside of London – seven million people live within one hour’s drive of the city centre. With HS2 developments linking the North & South further still, and the infrastructure in Manchester being grown from within, Manchester continues to establish itself as one of the UK’s major economic powerhouses.

For buy-to-let landlords, possibly the most crucial factor of all is the average rental yield of around 8%. Occupancy in the city currently stands at 96% and agencies across Manchester are reporting that the rental market is operating at a maximal level. The population of the Greater Manchester region is rising year-on-year at a rate not matched by property development.

There are other factors which ensure that demand for rental property will always be high; three large universities and one of the biggest international student populations in the UK, two of the country’s most successful football teams and a far-reaching airport are just a few of the attractions that will keep tenants flocking back to Manchester.

With everything very much on the up and no indications that this is likely to change in the immediate future, it is certainly an exciting time for those investing in buy-to-let property in Manchester.

Read our guide to the best areas for buy-to-let in Manchester

View properties listed for sale in Manchester here.