There’s a major revitalisation taking place in the Underbanks, an up-and-coming neighbourhood in the often underrated town of Stockport, and investors are beginning to spot the opportunities.
At one stage, peripheral towns around major cities often had reputations for being fairly run down, less bedazzling versions of their high-flying neighbours, lacking in amenities, transport links and the ‘buzz’ often associated with city centre living.
But increasingly, these halo towns are being placed on the map as growing numbers of people, from young professionals to families and older inhabitants, are moving in to take advantage of the sea-change that is taking place in these areas. One notable example of this is in the Underbanks in Stockport.
The Stockport borough as a whole, in part spurred on by regeneration in places like the Underbanks, was recently named as Greater Manchester’s fastest-growing property market, based on the skyrocketing number of home surveys carried out there.
While this demonstrates a surge in buyer numbers in the area, the knock-on effect is an influx of all types of residents, including renters, meaning greater demand in the buy-to-let space and more scope for property investment opportunities.
What’s different about Underbanks?
Stockport’s early origins were as a prosperous market town dating back to 1260. It later became a centre for small domestic industries such as spinning, weaving, leather making and hatting, and in the 18th and 19th centuries it was a centre for the Industrial Revolution in the region.
The Underbanks area has been a principle location since that time, consisting of characterful, historic buildings and providing a key transport link to the market place. In the Victorian times, Little Underbank became known as one of the finest shopping streets in Stockport.
Now, the Underbanks locality falls within the council’s Conservation Area, highlighting the area’s special interest. There is an ongoing Townscape Heritage project initiative, funded by the National Lottery Heritage Fund, that aims to boost knowledge and appreciation of the vicinity, attracting even greater investment in the zone.
Dubbed the ‘Soho of the North’, the Underbanks is becoming known for its new, independent shops, businesses, bars and cafes that are opening up there. People are attracted to the area’s trendy, modern lifestyle combined with the buildings and architecture that are steeped in history and Stockport’s cultural past.
It has also been likened to Manchester’s Northern Quarter, thanks to its relative affordability compared with ‘shinier’ parts of town, while offering a vast array of amenities to those who live there.
Art studios, vintage clothes shops, independent breweries and furniture warehouses are just some of the daytime offerings available across the Underbanks, while night time events range from loft gigs to renowned DJs and live acts at an array of venues.
One of Stockport’s most famous residents, at least in recent times, Tom Ogden from band Blossoms, was quoted as saying: “Stockport definitely feels like it has a new lease of life. The Underbanks has something special in the air.”
A top place to live and invest
With this regeneration and heightened commercial activity and footfall comes a greater desire to live in, and invest in, the area as an up-and-coming nook in the north west.
BuyAssociation is excited to be able to offer its latest project in Stockport, St Mary’s Gate, located at the Underbanks. With a current scarcity of property investment opportunities becoming available in the niche area, the team expects it to sell out quickly.
The project comprises a selection of 50 one-bedroom and two-bedroom apartments right in the heart of the popular location. Uniquely, many of the flats have their own entrance, as well as outside space and winter gardens. The ground floor will be occupied by a high-amenity short-term office brand, PROFOLK.
Stockport itself is seeing a number of high-profile residential schemes come to market at the moment, but this is the only offering in the Underbanks and old town currently. Furthermore, it is the only development of this nature and standard to be sold on the open market, with other schemes already sold or forward-funded by national PRS operators and pension funds.
If you’d like to find out more about investing in our new Underbanks scheme, from as little as £163,000, get in touch for more information.
