Posted on Thursday, January 25, 2018
Bolton has seen a steep increase in interest from landlords looking to invest in student property over recent years. With several high profile large purpose built student accommodation developments springing up in the area, demand for both this purpose built type of property, alongside student flatshares has seen high growth in recent years.
The University of Bolton is one of the UK’s newest universities, having being granted university status in 2005, and is, therefore, increasing in popularity with around 11,000 students. Over the past few years, the university has heavily invested in redevelopment, offering new facilities which include their Moot Court for law students, and Bolton One - their £31million health, leisure and research centre. Known for its close links with employers, such as Marks and Spencer, Network Rail and the NHS, the university attracts students from a wide range of backgrounds. The abundance of students in the area makes Bolton an obvious choice for landlords wishing to attract tenants coming from both the University of Bolton – and in some cases students who study further afield but are attracted by the relatively cheap rents compared with surrounding areas.
As a town, Bolton is undergoing somewhat of a transformation. The announcement in 2017 of a £1billion investment into the town centre is set to completely overhaul Bolton and it’s envisioned that the proposals will create over 7400 new jobs, and generate economic activity worth an additional £412 million in the area. The development of specific ‘quarters’ – areas for recreation, shopping, and eating will no doubt be a strong attraction for forthcoming students, who will have an increased choice of leisure pursuits to choose from in the town.
For landlords who have properties within the Bolton area, this regeneration no doubt comes as welcome news, as new jobs, shopping areas and economic growth should result in an ability to achieve increased rental returns, while also encouraging capital growth for their properties.
Bolton offers students a good range of pubs and nightlife and has the obvious added benefit of being just 20 minutes by train to Manchester. Additionally, it’s easy for students to visit other areas such as Liverpool, Leeds and York. Considered a vibrant town with a friendly feel, the placement of the University at the centre means that students are happy to seek accommodation with easy access.
For landlords, the obvious benefits of a growing university population, mixed with a town which is to be heavily invested in are rather an enticing combination. However, the usual rules still apply - properties which are well decorated, maintained and managed are the ones which will let quicker, keep tenants longer, and hold their price. Student Haus can assist both students to find great accommodation, and landlords to source tenants and fully manage their property.
If you are a landlord or student in the Bolton area and would like to know more about how Student Haus can help you, please get in touch with us.