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Ancoats Attracts Overseas Investment

Once heart of the industrial revolution, which lay derelict for many years, has now become one of the most sought after and trendy areas to live and work in Manchester.

Ancoats is now attracting a surge of both owner occupiers and buy to let investors into the area.

Overseas investors are also joining UK funds and private companies to take total investment in the region’s prime property assets to more than £3.4bn by the end of the year.

Investment deals totalling £250m are pending in the district, as international money pours in to the city.

Experts say money investors are tempted by the huge returns that can be made buying and selling Manchester investment property – returns that far outstrip rival investments in other European cities, the stock markets or government bonds.

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X1 Eastbank

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• Less than 10 minute walk from Piccadilly train station and City Centre
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• Ideal buy to let for any property portfolio.

X1 Eastbank Manchester

Investment volumes in the wider North West are expected to exceed the £3.4bn peak recorded in 2007, according to new research from surveyors Colliers International. Colliers say investors are now looking beyond London and the North West as the main beneficiary.

It is the only region outside of London where investment volumes have already surpassed the full year total for 2014 of £1.8bn. So far this year, it stands at £2.3bn.

Jonathan Mills, the recently-appointed head of investment at Colliers International in Manchester, said: “Manchester is now the first choice outside London, both for UK and overseas investors. “Our region has the most mature market.

Manchester is a brand they recognise and an economy large enough for them. European investors are intrigued by the story the city has to tell.

“Manchester has the stability they want, the liquidity they want and they can see strong drivers for the regional economy to grow.”

“Investors can see that prices are still lower than elsewhere but the infra-structure for real growth is in place.”

East Manchester’s plans, seem very much community-oriented, rooted in maintaining the indigenous population and attracting families and long-stayers rather than weekenders or anonymous investors.

A local resident, Gina , who works in Oldham, has already bought in Ancoats. She moved into her flat in 2014, having previously rented in central Manchester.

“We wanted to be close to the centre of town but not anywhere too noisy,” says Gina, 25.

More importantly for her and her partner: “We really liked the way that it kept some of the original qualities of Manchester, rather than just being about the bars or new apartments.

“Transport links are good,” she adds. “It’s only a one-minute walk to Piccadilly tram stop. We are close to the ring road, so it’s really easy to get to the motorways.”

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