As cities such as London grow and become more expensive, professionals are starting to look at other cities to invest in commercial properties.
Research shows that Manchester’s economy is growing rapidly as it is welcoming both international and property investment as well as regeneration. This makes the city a much more appealing place to live. As the city’s reputation and attractiveness continue to grow, it’s no surprise that young professionals are looking for commercial property for sale in Manchester.
Other cities that are also growing due to lower property prices and more appealing and attractive properties include Slough, Birmingham, and Milton Keynes. Slough is well-connected and is therefore thriving and with plans to improve travel times back into London, its popularity is only going to increase. For professionals who work in the City but are unable to afford to sky-high cost of living there, Slough is undoubtedly an appealing option.
Birmingham is becoming an investment hotspot, with even more investment expected for the future. Global organizations such as the HMRC and HSBC are planning on opening offices within the city, which means more job prospects which will, in turn, attract more young professionals. With affordable living costs and constant regeneration, Birmingham is certainly a city worth considering when it comes to commercial property investment.
Ideally located between Oxford and Cambridge, investing in a commercial property here could be highly strategic. Funds have been allocated to the city to improve its transport links, a highly important consideration when buying a property, so this alone makes Milton Keynes an attractive prospect for professionals. Compared to the city’s neighbours, property prices are almost half which is a very appealing prospect.
Stevenage is also easily commutable to London and professionals have quickly noticed that it is a cheaper alternative to living in the City. Although house prices in the area have increased, the prices are still considerably lower compared to those in the centre of London. However, Stevenage will soon see a huge boost in travel links, making the area incredibly appealing so you can expect to see demand for property to grow considerably.
Whilst London is considered to be the ideal location for the vast majority of organizations for commercial property investment, this article shows that a number of UK cities are fast a more appealing option. Young professionals becoming more aware of the more affordable areas to live, better transport links as well as more attractive buildings. If you’re thinking of investing, make sure you do plenty of research before committing to buying a commercial property for sale in Manchester.