Stockport is becoming a hotspot for commercial property investment in 2018, according to law firm, SAS Daniels LLP.
With interest rates remaining low and investment prices in nearby Manchester and Liverpool rocketing, the firm believes investors are instead looking to regional centres for a better return on their capital.
With an average rental yield of 8.2%, Stockport is above the national average of 4.5%* and rapidly becoming a growth town for investors.
As a result of the shift in habits the firm is seeing, it has launched a new interactive guide for commercial property investors looking to explore regional hubs. Stockport is included in the round up of the best places in the North West and surrounding areas for commercial property investment, based on average rental yields, average commercial property prices, transport links and local development plans.
James Clarke, Partner and Head of the commercial property team at SAS Daniels, said: “Stockport Council is keen to promote and improve Stockport and has been the catalyst for a number of new projects – Stockport Exchange and the Aurora Stockport development to name but two. Regeneration is the key and the Council have a clear strategic approach to achieve this. There are more sites ripe for both residential and commercial development around the town, making Stockport a much livelier place to live and work. Add to that its excellent transport links, including a new transport interchange with capacity to link into the Metrolink Tram network, Stockport is attractive to incoming businesses.”
SAS Daniels has a team of commercial property lawyers who specialise in commercial property investment and management projects and found Stockport to be competitive for both rental yield and average commercial property price, standing at £309,365**.
James Clarke added: “Stockport is an extremely attractive town for investment and quite rightly so. A lot of focus has been placed on regional redevelopment and many people can benefit from this. As experts in a range of property matters including the sale and purchase of commercial investment properties, we see a wealth of opportunities on our doorstep in Stockport.”
Stockport is just one of 10 locations in the North West and surrounds which have been identified as a commercial property hotspot for investment. The other locations indentified in SAS Daniels’ research are: Chester, Congleton, Crewe, Macclesfield, Middlewich, Newcastle-under-Lyme, Shrewsbury, Warrington and Wrexham.
*statistics from Savills’ market in minutes: UK commercial property June 2018.
**Based on individual property units under £1 million.