Press Release – For Immediate Release
Brexit has placed UK into a political turmoil, leaving critical questions over the future of London as the region’s pre-eminent financial center. Meanwhile, Manchester has outstripped its sister- city, London, as it retains its position for foreign direct investment (FDI) strategy powered by the Northern Powerhouse Initiative. Coupled with regeneration and infrastructure developments, Manchester is the most livable city in the UK with a soaring property market expected for at least a 10% growth from 2018 to 2022.
Manchester’s Salford is particularly seeing a strong residential regeneration. Located against financial district, New Bailey, and digital hub, MediaCity, its young demography has created a high housing demand. Crescent, the latest residence in Salford, starts at HKD 2.1M with an expected rental yield at 6% per annum. A slipping pound coupled with the district’s lagging value, creates the ideal opportunity to secure an investment in this uprising property market.
Manchester surpasses London as UK’s most livable
Manchester’s livability index ranks much higher than UK’s economic center, London. The Economist Intelligence Unit (EIU) ranked Manchester as the 35th most livable city across the globe from a total of 140 cities by analyzing the cities’ stability, education, culture, medical care and infrastructure network. Placed at 35th, Manchester is 13 ranks ahead of London and has the highest increase across Europe in 2018 increasing by 16 ranks from 2017.
Manchester excels in its cost of living rating. Expatistan, a surveying website of living comparisons, reported in January that Manchester’s cost of living is 36% lower than London with a 42% lower rental pricing.
Manchester among world’s top cities for FDI
Besides boasting a low cost of living, Manchester is a globally significant business destination for international firms and is among the world’s top cities for FDI, illustrated by the potential of UK’s Northern Powerhouse initiative. IBM’s 2018 Global Location Trends report found that Manchester and Liverpool placed 10th, ahead of London, with the largest number of FDIs in UK, higher than sister-city, Birmingham, at 19th and Shanghai, China, at 13th.
Manchester’s ambitious and visionary future has attracted a number of Chinese corporates to invest into the city. Beijing-based BCEGC invested over GBP 800 billion into Manchester’s International Airport expansion. Digital and fintech firms, including Google, Microsoft and IBM have all established headquarters in the city in addition to UK’s largest media network BBC. Amazon’s research center in Manchester, moreover, will begin its operation this year.
Infrastructure and regeneration developments drive Manchester’s economy
Corporates are optimistic of Manchester’s future due to the number of infrastructure and regeneration projects ongoing in the city. The High-Speed Rail 2 (HSR2) to link London, Birmingham and Leeds will be the most significant infrastructure project in the country, costing up to GBP 56 billion. Expected for operation by 2033, it will merely take 1 hour and 8 minutes to travel from London to Manchester. The expansion of the light rail system, costing GBP 2.1 billion will connect 92 stations across the UK and hugely increase the connectivity of the nation.
As Manchester’s CBD expands, entertainment and commercial hub: New Bailey, the largest mixed-use development of the north: Noma, creative and digital hub: MediaCity, and financial district: Spinningfields, will transform Manchester’s demography and economy into a growing regional capital. MediaCity has attracted over 250 corporates creating over 7,000 jobs, including BBC and UK’s private TV channel ITV. As the second phase of MediaCity completes, Manchester’s population boom will continue to provide new jobs, new homes, new opportunities and new businesses.
Property market under high investment potential
“Manchester will receive a young labor force to stimulate its housing demand. Salford is leading growth in Manchester City, experiencing a rising property market with MediaCity in close proximity which has a digital business that is expected to double in years. In 2017, Salford M5’s properties averaged at GBP 140.8K but increased to GBP 171K by 16% last year,” says Mr. Terence Chan, Managing Director of Golden Emperor Properties. Besides Salford, Greater Manchester City has had its fair gain in the property market.
UK- based property agency, Hometrack reported that from November 2017, Manchester’s property prices have increased 6.6% to an average of GBP 168K, ranking first with Edinburgh among other UK cities. A report by JLL predicts that from 2018 to 2022, Manchester’s salary will increase by 1.3% on average in the 5-year period and retain a total increase of 22.8%, with rental prices increasing by 17.6%, a 12.6% average higher than the entire nation. Mr. Terence Chan continues, “as so, properties are the perfect investments on the UK market. As the pound regains its value, properties bought now will see a notably increased value.”
Salford, neighboring MediaCity and New Baileys, experiences incredible growth
Salford M5, is nestled in the heart of Manchester City nearby financial district of New Bailey and digital hub MediaCity. Crescent, the latest residence in the city, is steps away from educational institutions, commercial and entertainment spots. New Bailey, University of Salford, The Printworks Shopping Center and Peel Park, are all within a 3 to 5-minute walk whereas MediaCity, Soho Northern Quarter, Chinatown and Spinningfields are all reachable with a 5 to 15-minute drive.
Crescent houses a number of amenities, including gym center, theatre, laundry, basement car park, indoor swimming pool and a rooftop terrace. Comprised of 3 buildings to accommodate 399 1 to 3-bedroom units ranging from 530 square feet to 1,341 square feet, expected for completion by Q2 of 2020, Crescent starts at HKD 2.1M with an estimated rental yield at 6% per annum. Golden Emperor Properties’ Managing Director, Mr. Terence Chan states, “Manchester has a strong resale market with properties giving an extremely high rental yield. Rental occupancy has continually reached 98%. With Crescent nestled in a central location of the city, it has a high potential and will excel as an investment.”
About Salboy International
UK’s renowned developer Salboy International works in partnership with the best design and construction teams in order to deliver the highest quality properties for Manchester, which has been powered by the UK’s Northern Powerhouse initiative. Salboy currently have 3 projects under development, including Local Crescent, Local Blackfriars and Burlington Square. Every year, Salboy delivers high quality residential projects from the UK across the globe and has successfully done so in the past years. The developer’s ultimate goal is to develop Manchester into the globally recognized city it has the potential to be. www.salboy.co.uk/ www.salboy.com.hk
About Golden Emperor Properties Inc.
Golden Emperor Properties (HK) Limited is a Hong Kong-based property agency company that offers property investments worldwide to clients in Hong Kong and internationally. Since the establishment of the company, it has accomplished close partnerships with developers from England, Australia, Thailand, Vietnam, Malaysia, Japan and Europe. The company has a team of dedicated sales representatives to provide consultation and services on relevant enquiries for investors, including tax information, buy and sell procedures, payment schedules and etc. www.goldenemperor.com
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