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“The NorthWest of England offers the best returns” – Discuss !

The claim that the Northwest of England offers the best returns for property investment is a topic with various perspectives, each influenced by current market trends, economic factors, and long-term forecasts. Let’s delve into the arguments supporting this statement and consider the counterpoints to provide a balanced view. Supporting Arguments 1. Economic Growth and Regeneration: The Northwest, including cities like Manchester, Liverpool, and Preston, has seen significant economic growth and regeneration projects. These developments have boosted the local economy, making it an attractive option for property investors. For example, Manchester’s MediaCityUK has transformed Salford, attracting businesses and increasing demand for residential properties. 2. High Rental Yields: Compared to other regions in the UK, the Northwest has consistently reported higher rental yields. This is partly due to the relatively lower property prices combined with strong rental demand, especially in university cities with large student populations. 3. Population Growth and Demand: The North West’s population is growing, driven by its appeal to students, professionals, and families. This growth sustains demand for housing, both in the rental and sales markets, potentially leading to capital appreciation and solid rental incomes. 4. Infrastructure Investments: Investment in transport and infrastructure, like the HS2 high-speed rail project, is set to improve connectivity between the Northwest and other major UK cities. Such enhancements could further boost property values and investment returns. Counterpoints 1. Market Volatility: The property market is subject to cycles of boom and bust. While the Northwest has shown strong returns in recent years, it’s not immune to market downturns that could affect investment returns. 2. Regional Variations: Within the Northwest, there are significant variations in investment potential. Some areas might offer excellent returns, while others could pose higher risks due to economic or social challenges. 3. Brexit and Economic Uncertainties: The broader economic uncertainties, including those stemming from Brexit, could impact investment returns. These uncertainties might affect employment rates, housing demand, and overall economic stability in the region. 4. Competition and Saturation: As more investors flock to the Northwest, driven by the promise of high returns, the market could become saturated. This competition might lead to inflated property prices, reducing yield percentages over time. Conclusion At Global Investments we believe that while the Northwest of England presents compelling opportunities for property investment, characterised by high rental yields, significant economic regeneration, and population growth, it is also subject to challenges and uncertainties. Investors should conduct thorough research, consider both micro and macroeconomic factors, and possibly diversify their investment portfolios to mitigate risks. Like any investment, property in the Northwest carries both potential rewards and risks, and outcomes can vary widely depending on specific locations, property types, and market conditions at the time of investment. Here at Global Investments, we have property experts on hand to talk through the options available and ensure that the choice you make is right for you.

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Cleveland News – Largest Hough development in a century

The largest planned, single development in a century is proposed for Cleveland’s Hough neighbourhood by reutilising the huge site of the closed Martin Luther King Jr. High School, 1651 E. 71st St. On that 11-acre property bounded by Hough and Lexington avenues plus East 71st and 73rd streets, 310 housing units and two divisible commercial spaces are planned as part of a neighbourhood destination. They are intended to serve a variety of residents — ranging from the growing workforce and student population in the University Circle area to those retired and looking for modern, single-level housing. In the centre of the development, a roughly 3-acre community park is envisioned with gardens, farms, a pond, fountain and quarter-mile-long walking path. Proposed by Structures Unlimited LLC of Greenbelt, MD in suburban Washington DC, with offices in Cleveland and West Palm Beach, FL, the developer has built major residential and commercial projects in suburban Maryland but also in Baltimore, Durham, NC and elsewhere. The minority-owned firm also touts its use of a panellised building technology made and marketed by Emmedue M2 Systems of Italy to quickly and affordably build structures. Structures Unlimited proposes to build on the MLK school site 213 apartments in two L-shaped buildings featuring 22,789 square feet of commercial spaces on their ground floors facing Hough Avenue. In the commercial spaces, the developer’s Founder and Managing Member Kareem Abdus-Salaam said he he envisions an organic food market, an incubator for entrepreneurs, and a white-tablecloth restaurant. Around the perimeter of the north half of the site, halved by an extension of Quimby Avenue, 97 townhomes are planned. They will range in size from 635 square feet on one level for seniors to as much as 1,917 square feet for market-rate homes. According to plans submitted to the city by the project’s architect LDA of Cleveland, the market-rate townhomes will be for-sale units and there will be 24 senior homes. There also will be 276 off-street parking spaces and 93 on- street spaces. On its Web site, Structures Unlimited said the MLK school site development will feature “a diverse range of housing options, catering to various income levels, thereby fostering a socially diverse and inclusive community. The residential units will be thoughtfully designed, energy-efficient, and equipped with modern amenities, ensuring that residents enjoy a comfortable and contemporary living experience. By prioritising environmental responsibility and social cohesion, this project will set a new standard for future urban developments, paving the way for healthier and more resilient communities. Also, two years ago, the firm requested city approvals to develop the south side of Hough Avenue at East 85th Street with multiple retail spaces called the Madame CJ Walker Business District, named after an early 20th-century African American businesswoman who was active nationwide. But that proposed project, centred at 8502 Hough, was denied a permit by the city’s Building Department due to several nonconformance zoning issues, according to city records. The application will be resubmitted. That project, proposed on city land bank properties yet to be acquired by Structures Unlimited, will likely benefit from the city adopting a form-based zoning code. The design review committee has on its agenda the Hough Form-Based Code Pilot Area on land north of Chester Avenue between East 55th and East 90th streets. The land on which the MLK school was built was originally the site of University School before it moved to Shaker Heights in 1926. The property was sold to the Cleveland Public Schools which remodelled the building as Thomas A. Edison School for boys. Structures Unlimited’s proposed developments could result in restoration of Hough’s former business district.

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