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investing4536

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Everything posted by investing4536

  1. Hi Rob, I own an investment property just off Ordsall Lane a few minutes from Exchange Quay. It's a house but I've never had any reports from tenants regarding crime or seen anything untoward when I go down there - although I'm sure the area still has the odd issue but certainly nothing like ten years ago. Ordsall Park is also a major plus for the area. As you can from this development map there is a lot happening in the immediate area in future. https://www.google.com/maps/d/viewer?mid=1iKsAEkRbZ42vWsAvG5-LNeziihs&hl=en_US&ll=53.478188162394744%2C-2.2481203099914637&z=14
  2. Thanks Rashed, your most recent experience is what I'm used to in the city centre. Anyway I'll chalk it up to the time of year and see what happens in early Jan.
  3. I had a rolling contract unexpectedly end last month in a central Manchester flat and have been quite surprised at the following lack of interest. I know the market is quiet over Christmas/New Year but didn't quite realise it was non-existent. Anyone else had similar issues in the past? Other properties let earlier in 2017 generated a lot of interest within hours of going online.
  4. Hi Alex, I am not a sourcing agent but have done searches with similar criteria before - am happy to share my experiences and offer basic info about the Manchester market if you are unfamiliar.
  5. I've built up a portfolio across central Manchester, Salford and a few South Manchester areas (Didsbury, Chorlton etc) Whilst I expect the portfolio to do well in the next few years as Manchester develops at a quicker rate than all other UK cities I can't help but think it wouldn't do any harm to sell 10-15% of the portfolio and diversify into European property - particularly because of the instability brought about by Brexit (although this doesn't seem to have affected Manchester's yet but I gather Liverpool/Leeds in particular have struggled since the vote to attract significant amounts of investment). I was interested if others have found themselves in a similar position and has anyone actually taking the step of buying in Europe (or further afield) purely for investment and not lifestyle reasons? Current areas of interest are Berlin, Dresden, Leipzig, Dublin, Budapest and Lyon - Berlin is the most attractive at present from an appreciation standpoint but would be great to hear the thoughts of others. Cheers
  6. Unfortunately after trying to accommodate solicitors and be patient throughout several purchases I am now a firm believer in the squeaky wheel approach! It's a bit of an indictment of the whole industry that if a buyer/seller agree a price with the solicitors then the square root of nothing is likely to happen if neither side are pushed.
  7. I currently have two rental properties in converted warehouses in central Manchester with 'F' EPC ratings and the potential for 'D' ratings. For those familiar with Manchester apartments they are fairly typical of converted period properties in the area - high ceilings, electric heaters, larger than new builds - tenants seem to like them but they certainly are not energy efficient! My concern is whether as a leaseholder (and therefore not being able to make structural changes to insulate the walls/change the heating systems etc) and the fact they are both Grade 2 Listed Buildings mean I will be exempt from the 2018 EPC Legislation which says rental properties must be higher than an F rating. https://www.rla.org.uk/landlord/guides/epc-for-listed-buildings.shtml Even this article from the RLA basically concludes that they don't know the answer and the government has done a bad job of clarifying the situation. Would be great to hear from other landlords in a similar position. Thanks, Alex
  8. I currently have two rental properties in converted warehouses in central Manchester with 'F' EPC ratings and the potential for 'D' ratings. For those familiar with Manchester apartments they are fairly typical of converted period properties in the area - high ceilings, electric heaters, larger than new builds - tenants seem to like them but they certainly are not energy efficient! My concern is whether as a leaseholder (and therefore not being able to make structural changes to insulate the walls/change the heating systems etc) and the fact they are both Grade 2 Listed Buildings mean I will be exempt from the 2018 EPC Legislation which says rental properties must be higher than an F rating. https://www.rla.org.uk/landlord/guides/epc-for-listed-buildings.shtml Even this article from the RLA basically concludes that they don't know the answer and the government has done a bad job of clarifying the situation. Would be great to hear from other landlords in a similar position. Thanks, Alex
  9. Hi Lee, it's fully managed but I'm not looking for rent guarantee insurance.
  10. Thanks Vicky, I'll certainly reach out to Yellow if we make the move. The ethos of the company sounds good
  11. Anyone have any recommendations? I currently use a city centre firm for my properties in the centre and South Manchester. The flat rate per property is very reasonably under £50 but I think it's a case of getting what you pay for. I am looking for an agent who can proactively and reliably coordinate work with tenants and proactively update me without constantly need to chase for updates. I feel like my current agent take on more than they can handle and it's really tempting to get involved with the management of the properties again - surely a bad sign! Clear invoicing and balance statements would be a nice bonus as would a user-friendly online portal showing all property issues, inspection dates, gas check appointments etc.
  12. Hi Rob. If you really want to focus on prime areas with high capital growth and lower yields then I'd take a look at Didsbury. Properties have appreciated faster than the city centre over the last few years. Furthermore unlike the city centre, demand can not be met by building lots of skyscrapers Compared to other 'affluent' areas in Manchester, the area has a far higher proportion of young professionals looking to rent and many larger period buildings have already been divided into flats. If your strategy is buy-to-sell, I'd look elsewhere though. As for resources, I'd recommend the Manchester section of the construction and development forum Skyscrapercity. If you spend time there, you will start to build up a clear picture on the up and coming areas around Manchester - typically on the periphery of the quickly expanding city centre. A few people on the forum spend a lot of time making excellent development summaries/maps of all that is happening in Manchester (it's hard to keep track!) and it will give you a far more objective view of Manchester than some property consultant/estate agent with their own agenda. Hope that helps.
  13. Hi MTY, we invest exclusively in Manchester but are considering diversifying into Edinburgh later this year. It's always good to have someone else to swap notes with!
  14. I also really liked the episode and hope it becomes a fixture of the podcasts!
  15. Hi, just wondering if any other landlords with medium sized portfolios (5-10 properties) use this? Whilst I keep on top of all H&S aspects of my properties and fulfill all my legal requirements, I feel like further purchases mean I'm reaching a 'tipping point' where it's a cost worth considering. More properties equalling more chances for things to go wrong!
  16. Sorry to answer your question properly, we're looking to add a 'higher risk' buy-to-let property to our portfolio with good yields/low service charges and the chance for strong appreciation.
  17. Hi George. We're specifically looking around the 'Axis The Way' - new build houses close to Fairfield Street. They do seem to be well constructed and can command solid yields. There's definitely a lack of surrounding amenities/school options but it's compensated by the houses only being a 5 minute drive/20 minute walk from the city centre. Our target tenants would be young professionals/ families with toddlers who need easy access to the city centre but want a lot more space than a flat can offer.
  18. Thanks for the reply Eamon. I was actually asking about new builds in Beswick specifically. Agree about Salford Quays - flats often cost more than the city centre!
  19. Would be curious to know if anyone has had experience investing in new build flat or houses around Beswick? I'm looking at an area equidistant between Piccadilly Station/The Mayfield site and the Etihad Stadium. I'm sure we've not see the last of development around the stadium from city's owners due to the fact they are buying up a lot of land but have currently not announced anything - but safe to say whatever it is is going to be pretty big
  20. It's going from strength to strength at the moment. Many people already prefer it to the Northern Quarter
  21. Thanks for all that information Tim. I am waiting to hear back from a solicitor as have yet to see a comprehensive detailing of the new legalisation on a Government website - and certainly no reference to the 2025 changes, save for a few unofficial websites. My initial research this week suggests it will be quite a complex issue for leasehold flats in period conversions and won't be as cut and dry for landlords where the scope to improve a property is limited by the nature of the building and leasehold restrictions.
  22. Thanks Alex. I've found the government consultation doc but couldn't tell if it had been passed as a piece of legislation and frustratingly can't find a detailed overview of the new rules and exemptions. As an owner of several leasehold, warehouse conversion flats (loft ones to boot!) I'm hoping the criteria will be sensible.
  23. I take it this legislation never came to pass? https://www.gov.uk/government/news/renters-and-landlords-to-enjoy-warmer-properties-and-cheaper-bills
  24. I have a few flats in the city centre, the figures you've suggested are par for the course so provided you know your service charge/ground rent, it sounds around fair value. One note of caution, central Manchester is undergoing a huge construction boom on a level not seen since the last recession and many skyscrapers are in development - so be aware of a lot of supply coming to the market in the next year or two, demand is predicted to more than outpace supply though!
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