Property Investing in Altrincham
Altrincham has experienced somewhat of a regeneration in recent years. Not long ago, the town was but another typical example of a desolate northern town, populated by boarded-up shops and barren high streets. In recent years, however, Altrincham has been the focus of an extensive regeneration effort. As the headlines rightly stated, Altrincham had turned from ‘Ghost Town to Boom Town’ seemingly overnight. In fact, thanks to Altrincham’s extensive redevelopment the town was bestowed the title of ‘The best place to live in the North-West’ knocking Knutsford off the top of the leaderboard. That as many of the locals will tell you, is quite an accolade. But why is Altrincham such an investment hot spot these days? And why does this directly correlate with the amount of property investment Altrincham receives?
Altrincham boasts the highest average house prices outside the south-east of England – fact. According to The Guardian, the average Altrincham homeowner pays an average of £2,227 per square foot for their property – comparable only to properties in the South East. The reason? There are many, but let’s first focus on a few introductory points.
Altrincham is one of more affluent and leafy suburbs offering inhabitants a wealth of critically acclaimed schools, restaurants, shops and other amenities. Whilst the local facilities are great, Altrincham also offers fantastic transport links- on both a national and international level. With its brand spanking new interchange, commuters can get to Manchester ( not to mention the rest of the country with ease). Not the only string to its bow, Altrincham is just a 10-minute drive away to Manchester airport, making international travel an absolute synch (providing you bring your passport!).
Back to School
Altrincham is well known for its exceptional spread of schools. Loreto, St Ambrose and Altrincham Grammar School are but a few names associated with rubbing shoulders with the best schools in the country. If they haven’t already received an ‘outstanding’ Ofsted report, then they’re more than likely to have been featured in the Good Schools Guide.
As you might have already guessed, competition for these schools is fierce. Speaking in an interview with the M.E.N last year, Stuart Howe, branch manager at local estate agent Thornley Groves had the following to say:
“One of the things we find is that because of the strength of the schools, both primaries and secondaries, we get a lot of people coming who have lived in WA14 or WA15 for years and who want to stay in the area.”
For a number of decades, the town has benefitted greatly from its schools. Many families want to stay in the local area so that they can keep within the local catchment area. The schools are so revered in fact, that they attracting parents from around the country. To exemplify just how much of a draw the schools are, two properties just a stone’s throw away from the local schools sold for just shy of £2m, simply because they were within spitting distance of the local schools.
Altrincham’s recent redevelopment has seen it the envy of towns up and down and the country. With deprivation running rampant across high streets everywhere in the UK, it’s no wonder that the success of Altrincham is drawing attention from the more traditionally prosperous regions of the south. Only last year it was reported that record numbers of Londoners have started to move to the Greater Manchester area: around 10,200 to be precise!
Much of the town’s success can be attributed to the regeneration of Altrincham Market. Once upon a time, the market was a place awash with discount clothes, cheap food and more. Now, it’s a place where people can go to drink, relax and eat in equal measure. Packed with artisan food and drink stalls, Altrincham market has grown popular with a decidedly affluent audience, or as Nick Johnson the director of market operations affectionately references, ‘middle-class foodies’. The market also features a favourable selection of local retailers, florists and arts and crafts stalls.
With its unique take on a traditional British market, Altrincham’s market has proven to be a huge draw for people from far and wide. In fact, so successful is the blueprint for Altrincham’s regeneration, that many others across the country are considering to adopt it as their own.
An Evolving Demographic
With the huge amount of investment that is being pumped into the town centre and its new leisure facilities, Altrincham’s key demographics have evolved dramatically. With the likes of Altrincham Market, Goose Green and the Stamford Quarter being slap bang in the middle of the town centre, young people have flocked to the area en masse. Featuring a selection of prominent chain restaurants, unique eateries and trendy bars, you can shop, drink and eat yourself happy in one outing.
Whilst the town’s flood of investment has been a major draw to the younger generations, it still has plenty to offer an older, more affluent audience. With boutique shops, trendy retail outlets and eateries at its disposal, Altrincham really does have something to offer to everyone- all within the confines of its own borders. Manchester might be a short journey away, but with everything you need on your doorstep, why leave?
Property Investment Altrincham
The volume of property investment Altrincham is receiving is on the up. As we’ve already outlined, Altrincham’s redevelopment has put the town in a fantastic position for future investment from all over the world. With a new, reinvigorated infrastructure, the town has become (more so than ever) a highly sought-after area. With improved transportation links and a rejuvenated retail quarter, Altrincham has experienced a 25% increase in footfall since 2010. Schools and facilities aside, Altrincham is also enjoying the benefits of a regional property boom, which continues to contribute to the area’s ever-increasing house prices.
As always, when an area becomes more desirable there becomes an equal need to increase the output of housing and accommodation. Where there is supply, there is demand, and when an area expresses a need for housing, investment is sure to follow. The amount of investment Altrincham receives can be understood to directly correlate with the amount of property investment that it receives.
Yep, you’ve guessed it, we’ve just launched fundraising for our latest development ‘The Downs‘. We have just secured plans to build a brand-new development in the centre of Altrincham! The Downs is a well-known, prestigious location, and can be found on one of the most reputable roads in the town. House Crowd Developments have agreed to purchase a substantial brownfield in the area and are working with award-winning architects Calderpeel (winners of The North West Architects of the Year 2017) in order to build 31 apartments, eight townhouses and one commercial unit. The GDV of the development is forecast at £15,345,000 and investors can earn up to 10% p.a*. Investors will also possess the benefit of a 1st legal charge.
Do you want to be a part of Altrincham’s regeneration? Do you want to be part of property investment in Altrincham? Secure your investment today.