The Commercial Property Guide 2018 has revealed that the North West England town with the highest average rental yield of 9.54% is Warrington. This is over double the national average rental yield of 4.5%.
The head of the commercial property section of SAS Daniels LLP, James Clarke, commented:
“Warrington is the largest town in Cheshire and has an enviable location between both Liverpool and Manchester, and these factors make it a very attractive investment area.”
Developments such as Birchwood Park have made the area appealing for property investors. The Cheshire and Warrington Growth Hub provides grants to small and medium organisations, and this has attracted firms to locate to Warrington.
Other areas of the North West including Manchester, Stockport, and Bolton were also highlighted in the Property Guide. Stockport has an average rental yield of 8.27%
The report noted that the North West outperforms Central London and Birmingham. Manchester has one of the highest number of new businesses per capita.
Manchester has been named number three in the country in Lambert Smith Hampton’s UK Vitality Index 2018. The city has been called “the unofficial capital of the Northern Powerhouse.”
Investors who want to purchase commercial property in the North West are helped by the low interest rates for commercial mortgages. Lenders are also assisting investors with bridging loans and building development loans.