A recent study by Property Inspect surveyors has revealed a positive trend between the number of Grade-listed buildings within a city and achieving a higher-than-average rental yield.
The UK is home to a number of historical cities, including Glasgow, Birmingham, Manchester, and Sheffield – all of which boast an impressive number of listed buildings and are in the top 20 cities to offer a rental yield above the average across the nation.
The link between the historical and cultural importance of the UK’s regional cities and their profitability for landlords was found after calculating the number of listed buildings within each city and comparing it with the average rental yields achieved, highlighting the alternative factors that influence the property market.
“Whether consciously or unconsciously, renters are drawn to cultural places, and landlords are finding better returns in these areas.” Warrick Swift, Commercial Director of Property Inspect.
This is great news for regional cities such as Manchester; with over 890 listed buildings throughout the centre, Manchester’s historical influence and importance throughout the 18th and 19th centuries have created a city filled with heritage sites and cultural significance where modern renters want to live.
Manchester has cemented itself over the last 5-10 years as the number one choice in England for investors looking for the highest yields, and long-term strong capital appreciation. With national yields averaging around 4.12%, and Manchester earning investors upwards of 6%, it’s no surprise that investors consistently choose Manchester when they are starting or expanding their property portfolios.
At Beech Holdings, we have renovated and restored multiple grade-listed buildings throughout Manchester, turning them into modern living spaces that are always in high demand from the city’s constantly growing rental market. With over 3,000 tenant enquiries coming in every month to our in-house lettings team, it is no wonder that our occupancy averages at 97% every year.
To find out more about how you can benefit from high rental yields and high occupancy rates within the number one city to invest in, get in touch with one of our expert property consultants today.