Overseas investment into the UK property market is coming thick and fast, yes the Chinese government is making things a little harder, and the Gulf States have took their foot off the Gas ever so slightly when it comes to deals being done, although not to worry the citizens over in India have taken up the slack so things are looking not too shabby at all.
It is also an common assumption that the UK property market begins and ends with London and the Southwest of England, now this area does account for a massive amount of the transactions done but it is by no means the only region attracting foreign investors to the UK property scene.
Take Manchester for instance, a region renowned for re-inventing itself over the past couple of decades to great effect, so much so that has become almost impossible to get grab a property before it is snatched off the market by some investor or young professional.
The success the city of Manchester has seen is now seeping its way out to the surrounding boroughs.
Global Investment House, a Kuwait-based asset management and investment banking firm, has just bought two institutional grade warehouses in Bury in the greater Manchester area and the seaport town of Grimsby, both in northern England.
These UK properties will be rented by none other than B&Q, under a 12-year lease and the purchase is expected to give the investment firm a dividend of more than 8 per cent with annual growth potential of between 2 per cent to 3 per cent. The cost of the acquisitions was not disclosed.
“This acquisition affirms our strategy to diversify our portfolio and demonstrates our continued pursuit of identifying value growth prospects in other sectors within the greater UK property market,” said Nasser Al Khaled, the head of real estate asset management at Global.
“We see great opportunity in the retail warehousing sector due to its resilience to the rise of the ecommerce industry.”
For property investment detail information, please DevDosh Ltd today.