McHale & Co. Solicitors Blog

Considerable appetite for both commercial property and residential property portfolios in the North West

In the recent months we have seen a considerable appetite for both commercial property and residential property portfolios in the North West region amongst our clients.

To name a few, we have been acting in connection with the following transactions:

  • a well-established residential property landlord who has sold his entire portfolio of fully occupied tenanted properties (the portfolio went off-market within 24 hours to secure the new owner’s interest and the sale was completed within 2 weeks);
  • purchase of a hotel in Cumbria area by way of a pension fund investment;
  • off-market offer of a large plot ready for a mixed-use development in the Manchester city centre area;
  • one of the largest wind farm companies in the UK and France instructing us to provide legal support in relation to their new office sites in the North West following company’s growth in the recent years;
  • multiple instructions by a well known chain of restaurants in connection with their occupation within existing shopping malls and retail parks at various North West locations;
  • one of the key developers in the region securing finance for the development in Manchester city centre;

This is of course not surprising given that the North West has been described by Collies International as a “magnet for growth” whilst being right at the centre of the economic Northern Powerhouse, with its stable professional services job growth, young population at its heart in Manchester, vast student population, resulting high rental yields of up 10%, investment into innovation and technology and well developing infrastructure.  So far Manchester itself has attracted The Royal Bank of Scotland, BBC and ITV along ¾ of the FTSE 100 companies.

According to property experts, house prices in the North West are set to rise by over 18% in the next five years, whilst commercial property prises could grow as much as 28.2% within the same period.

As Manchester property market is in bloom, it may be a good time to develop or start a new property portfolio. If you are new to property investment, our team is here to support you and offer relevant advice along the way. If you are an experienced property investor, you can rely on us to perform in most challenging of property transactions. 

 

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