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shillam

Question for experienced BTL investors in Greater Manchester

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Hello fellow Property Hub community 

I am a novice investor and am considering Wythenshawe or Wilmslow for a BTL investment property. I just wondered what others would choose between a 2 bed apartment in Wilmslow or a 3 bed semi-detached house in Wythenshawe. Both properties are leasehold and relatively new (built around 1999). Rental yield is important but I’m thinking more about capital growth as well. I’m considering these investment locations due to Manchester the Airport City project. 
 

Please let me know your thoughts and also your reasons for choosing one area and not  the other.

 

Thank you in advance for your time.

 

Kind regards

ShillaM

 

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Probably shouldn't be posting here as I don't invest in Greater (or even Lesser) Manchester.

Hey hoo, what could possibly go wrong....

We have established that you are primarily after capital growth with yield as a secondary factor. But that is really all you have supplied. 

It's all about numbers. Presumabily you have all the numbers to compare the two? What do they say?

Forget the area for the moment, which property does your number crunching say is the best? We can come back to the area later...

 

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Dear Dennis

Many thanks for your response. Purchase price and projected rental yield is not too different between the two properties. Annual ground rent for the Wythenshawe 3 bed semi is £264 while total annual charges for the Wilmslow 2 bed apartment is £1100+.

Thank you.

 

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23 hours ago, investwithjim said:

Generally I would go look for freehold. Any reason your looking at leasehold properties

Dear Investwithjim

Thank you for your response. I initially restricted myself to freehold properties but was struggling to find suitable properties within my budget. I am looking for properties that are ready to move into. May I ask why you would not consider leasehold at all?

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@shillam, for information, reference purposes only, there are others similar to the one in the link below.

in the projects for sale below, is this what you may be looking for in terms of 'already refurb'd, ready to move in with income'

all it takes is money & whether the returns meet your objective - better returns if you are able to get at least a 75% mortgage.

https://bhinvestment.co.uk/projects-for-sale/

 

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Hi ShillaM,

Both fantastic areas to invest in my opinion as we manage properties in Wilmslow and Wythenshawe. Without going into specifics you’re looking at 2 types of tenants.

The 3 bed in Wythenshawe, most likely a young family, staying for longer. Wythenshawe is still shaking it’s image of being social housing. It’s a brilliant area to invest with amazing transport links which is attracting the young professionals from the city centre priced out of Didsbury, Chorlton etc. 

The 2 bed in Wilmslow is likely to attract 25-35 young professionals, most likely single sharers or a couple, not yet looking to settle down as a family. 

Sorry not to answer the actual question, as I think both are fantastic areas and it depends on what you want. Good luck and if I can help in anyway give me a shout.

Connor

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5 hours ago, empanda properties said:

Hi ShillaM,

Both fantastic areas to invest in my opinion as we manage properties in Wilmslow and Wythenshawe. Without going into specifics you’re looking at 2 types of tenants.

The 3 bed in Wythenshawe, most likely a young family, staying for longer. Wythenshawe is still shaking it’s image of being social housing. It’s a brilliant area to invest with amazing transport links which is attracting the young professionals from the city centre priced out of Didsbury, Chorlton etc. 

The 2 bed in Wilmslow is likely to attract 25-35 young professionals, most likely single sharers or a couple, not yet looking to settle down as a family. 

Sorry not to answer the actual question, as I think both are fantastic areas and it depends on what you want. Good luck and if I can help in anyway give me a shout.

Connor

Dear Connor 

Thank you very much for this detailed and useful analysis. I can tell that you’re familiar with both areas. I am leaning more towards the Wythenshawe property at the moment based on the figures and also because I am keen to attract families as they are likely to stay longer. Thanks again for taking time to respond to my enquiry.

 

ShillaM

 

 

 

 

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6 hours ago, REinvestor said:

@shillam, for information, reference purposes only, there are others similar to the one in the link below.

in the projects for sale below, is this what you may be looking for in terms of 'already refurb'd, ready to move in with income'

all it takes is money & whether the returns meet your objective - better returns if you are able to get at least a 75% mortgage.

https://bhinvestment.co.uk/projects-for-sale/

 

Dear REinvestor

Thanks for your response. I am interested in nearly-newly-built properties in the areas I mentioned in my original post. I am not considering social housing at the moment but thanks again for taking time to respond.

ShillaM

 

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