With multiple exciting projects and new developments on the horizon, property buyers are seizing the opportunity to invest in Stockport as early as possible.
The regeneration underway in the popular north-west town of Stockport in Greater Manchester has been much talked about over the past couple of years, with the area getting mentions in some major news outlets recently; the Times marked it out as one of the best places to live in the UK last year.
The town certainly has some grand plans ahead, with the facelift around the Underbanks area drawing particular interest from those looking to invest in Stockport. It’s become known as the town’s “coolest” area, offering a mix of industrial history and heritage along with a new range of independent businesses and quirky shops.
As is always the case when an area is tipped to see major improvement and regeneration, greater numbers of people are now looking to invest in Stockport. BuyAssociation’s three residential sites in the Underbanks have already sold out after huge interest from investors, and the company is set to release a further site at a future date.
One major point adding to Stockport’s favour is its proximity to the city of Manchester, which is within easy commuting distance by train or bus. However, Stockport is equally recognised as a standalone place to live and work in its own right.
Improvements attracting people to invest in Stockport
Transport is often a big factor when investors are considering a particular location, with tenants being more drawn to areas where they can easily access work or amenities. While Stockport is already extremely well-connected, with fast trains to Manchester as well as to surrounding areas, it is about to see a big improvement.
Works are currently underway to create a brand-new transport interchange in Stockport, which will also include a new town centre park, high quality apartments, state-of-the-art transport facilities and improved links between the interchange and train station.
It is part of the £1 billion transformation taking place in Stockport town centre, coming from both public and private investment. This funding has already seen many parts of the town centre revamped with more facilities and amenities, which in turn has attracted new business to the area.
In the Old Town’s Underbanks area, funding from the National Lottery Heritage Fund started off by raising its profile, but the area has gone from strength to strength with the addition of more shops, bars and other businesses. The increased footfall has given this part of town a new lease of life, and this has been a huge draw for people looking to invest in Stockport.
Up to 1,200 new homes on the way
The fact that there is so much investment and redevelopment going on makes it an exciting opportunity for those keen to invest in Stockport. This goes for homebuyers and investors alike, as the town has something to offer everyone.
One new project that has recently been announced is the creation of up to 1,200 new homes in an eight-acre site known as Stockport 8. The project is a joint venture between the Stockport Mayoral Development Corporation (SMCD) and English Cities Fund.
The plans include building a “walkable and thriving neighbourhood that brings together surrounding communities and extends the town into existing neighbourhoods”, said the SMDC, with a wide range of housing types to suit an array of different tenants, buyers and investors.
The SMDC said: “We want to provide homes for people at every stage of live – from affordable homes and first-time buyers, to those for families, renters and down-sizers.”
Importantly, the plans also include provision for space for “local independent businesses”, which opens up opportunities for more exciting startups and other companies to open up shop in Stockport. Again, this will be a draw for those looking to invest in Stockport ahead of the curve.
If you’re interested in investing in property in Stockport, or one of the UK’s other up-and-coming locations, get in touch with BuyAssociation today.