Investing in Market Towns: The Future of Property Development in Stockport, Altrincham, and Macclesfield
10/09/24As the property market continues to evolve, we have seen a shift in focus from investors and developers, identifying opportunities outside of city centres in regional markets towns. Over the last 18 months, and especially since work and lifestyle trends have changed, we have seen Stockport, Altrincham, and Macclesfield emerge as prime locations for property development in the North West. Towns such as these offer unique benefits and abundant opportunities for property development and renovation. We looked into why these market towns are becoming hotspots for investment, redevelopment, and the creation of vibrant mixed-use schemes.
1.The Appeal of Market Towns
Towns we are currently working in such as Stockport, Altrincham, and Macclesfield boast a rich history, with each town offering a unique blend of old-world charm and modern amenities. These towns are home to characterful streets and vibrant communities, making them attractive locations for both residential and commercial development. Artisan markets, boutique independent businesses, shops and food venues attract local residents and visitors, helping increase footfall and dwell time.
Connectivity and Accessibility
These market towns benefit from excellent transport links to Manchester and beyond. Stockport and Altrincham are serviced by frequent trains, trams, and buses, while Macclesfield is a key stop on the West Coast Main Line, ensuring swift access to London. This connectivity makes them ideal for professionals seeking a balance between city life and a more relaxed, suburban environment.
2. Benefits of Investing in Market Towns
Affordable Property Prices
Compared to central Manchester, property prices in Stockport, Altrincham, and Macclesfield are more affordable, providing a lower entry point for investors. This affordability, combined with high demand, can lead to substantial returns on investment.
Strong Rental Demand
The proximity to Manchester, coupled with the towns’ amenities and quality of life, drives strong rental demand. Young professionals, families, and retirees are all drawn to these areas, ensuring a steady stream of potential tenants for residential developments.
Growing Commercial Opportunities
These towns are not just for living; they also offer commercial opportunities. The rise of remote working has increased demand for local office spaces, co-working hubs, and mixed-use developments that combine living, working, and leisure spaces.
3. Opportunities for Redevelopment and New Builds
Urban Regeneration
Stockport, Altrincham, and Macclesfield are all undergoing significant urban regeneration projects, supported by local councils and private investments. These initiatives focus on reviving town centres, improving public spaces, and enhancing infrastructure, creating a healthy environment for new developments.
Mixed-Use Schemes
Mixed-use developments are particularly appealing in these market towns. By combining residential units with retail, office, and leisure spaces, developers can create vibrant communities that meet diverse needs. These schemes enhance the attractiveness of the area and drive footfall, benefiting local businesses.
Sustainable Development
There’s a growing emphasis on sustainability in property development. Investors and developers have the opportunity to incorporate green technologies, energy-efficient designs, and eco-friendly materials into their projects. This not only aligns with environmental goals but also appeals to the increasing number of eco-conscious residents and tenants.
4. Case Studies: Successful Developments
Stockport
Stockport is undergoing significant redevelopment. New areas are forming and historic landmarks are being revived, including around Stockport railway station, which is now a bustling hub with offices, hotels, and leisure facilities, showcasing the potential for similar projects in other parts of the town.
Altrincham Market
Altrincham Market has become a model for town centre revitalisation. The redevelopment of the historic market hall into a vibrant food and drink destination has spurred further investment in the town, highlighting the benefits of preserving heritage while introducing modern amenities.
Macclesfield
There are plans to deliver further new homes, commercial spaces, and community facilities on a large scale in Macclesfield. This ambitious plan underscores the potential for significant growth and development in the town, attracting investors and developers.
Investing in property development in Stockport, Altrincham, and Macclesfield offers a host of benefits and opportunities. These market towns provide an attractive mix of affordability, connectivity, and community spirit, making them ideal locations for innovative residential and mixed-use schemes. With ongoing urban regeneration efforts and a focus on sustainability, now is the perfect time to explore the potential of these charming towns and contribute to their bright future.
By embracing the unique character and opportunities of these market towns, property developers can create thriving, sustainable communities that will stand the test of time. If you’re considering your next investment, look no further than the burgeoning market towns surrounding Manchester with us. We’re ready to form partnerships that will add real value through quality design and strategy.
Contact Luke Powell or Josh Stones
info@21living.co.uk
0161 222 6445
