The year just passed has been yet another busy year for us at Thorpe & Co. 2018 has seen the addition of several new properties to our Managed Portfolio. We take pride in sourcing, renovating, letting, and managing investment properties for clients and have continued to do so successfully throughout the year.
In our own property portfolio, three one-bedroom apartments have undergone comprehensive refurbishments. The renovations have included new kitchens and bathrooms, along with a total redecoration with quality IKEA furniture packs. The new-look apartments were let with ease at significantly higher rents, paying testament to the quality work done and value-added.
The geographical areas we have focused on over the last 12 months have performed well. Properties have been let out with ease, rents have generally risen with capital values also rising at a steady rate too. I feel that Salford, Swinton, and Monton Village continue to show promise, however, I am personally less confident about the City Centre due to the huge amount of new build apartments which are engulfing both central Manchester and MediaCity. Whilst I have no doubt that ultimately these areas will thrive, for the short to medium term it may be wise to exercise caution. For investors who are looking at central Manchester and MediaCity, my advice would be to look at more established blocks and not be tempted by the huge array of off-plan deals, as new build developments usually carry a premium.
In 2019 we will continue to work with our select group of clients to identify exciting opportunities to create high-yielding investment properties which provide solid long-term capital growth.
David Thorpe, Managing Director.