If you’re looking for high yielding property in the Northern Powerhouse, Pontefract should be on your radar as a key property hotspot.
The quaint market town in West Yorkshire is fast-evolving to be a property investors haven. Due to high rental demand, lower than average property prices and ongoing redevelopment in the area, property investors can expect to generate much higher yields than the UK average.
So, if you want to add a profitable buy-to-let property to your portfolio – Pontefract could be exactly what you’re looking for.
Here are 5 key reasons why you should consider investing in Pontefract.
1. Pontefract is Close to Major Northern Cities
Pontefract is a small town, but it sits very close to some of the busiest cities in the north of the UK. Just 30 minutes away from Leeds, 25 minutes from Wakefield, and an hour and a half from Manchester, it offers a less hectic pace of life while in close reach of key cities. This makes it a popular choice for commuters and families.
In addition, its proximity to these cities means it’s set to benefit from their continued economic boom. As Leeds and Manchester continue to expand and grow, Pontefract is perfectly positioned to absorb the demand for residential property as their property markets start to saturate.
2. Pontefract Investors Can Generate High Yields
Pontefract already offers high rental yields that are unattainable in other parts of the country – especially in the south of the UK. These high yields are available because rental demand is steady while property costs significantly less than the average in both the UK and across Yorkshire.
Despite lower rental values available in Pontefract, due to the lower cost of property, investors are able to generate even higher yields than Manchester, Leeds or Liverpool.
Furthermore, for investors buying now, these yields are likely to increase. The overall growth of the north and the planned redevelopment around Pontefract itself will enhance the town’s buy-to-let profitability in the coming years.
For property investors looking to make the highest possible yields out of their investment, now is the time to buy before prices increase and shrink yields.
3. Pontefract Has a High Rental Demand
There are lots of reasons why Pontefract boasts a high rental demand. Firstly, the town itself is attractive and charming. The picturesque town centre, period buildings and cobbled streets make it a lovely place to live.
It also offers a variety of important amenities that make it attractive to a wide range of renters. For example, Pontefract’s highly rated OFSTED schools and colleges are an appealing prospect for young families, while it’s close proximity to bigger cities means commuters can take advantage of cheaper rent and more affordable living.
However, Pontefract is also on the verge of its own economic boom, which will likely increase rental demand and reduce the town’s reliance on the north’s bigger economies. Ongoing development and a growing business district means that young professionals are being encouraged to stay and develop the town, transforming it into a fully-fledged northern economy.
This redevelopment is what presents the most exciting opportunity for investors. And those looking for buy-to-let property with strong growth potential will see the greatest returns on their investment if they invest early.
4. Pontefract is Growing
The regeneration plans around Pontefract are what makes the town such an exciting property hotspot.
These include a £750 million redevelopment project in the nearby Castleford area, a growing business district and a £15 million leisure complex. The area will also benefit from the new Axiom development, a huge regional shopping mall due to launch in 2021. This will be located just a few minutes’ drive from Pontefract.
These projects will create thousands of new jobs and green spaces, significantly enhancing Pontefract’s commercial offering and increasing rental demand.
5. Pontefract Benefits from Strong Transport Links
As well as being well located, Pontefract also benefits from extremely good access to major cities in the North, both by public transport and by road. This adds to its value as a commuter town. It’s even located in close distance to two of the major airports in Yorkshire – Leeds Bradford and Robin Hood.
In addition, work is in place to enhance the town’s transport links. A new rail service is already underway from Knottingley to Wakefield Westgate and Leeds, set to make Pontefract even more connected.
In combination with the town’s own growing economy, these improving transport links will help enhance Pontefract’s growing commercial offering.
Invest in Pontefract Property with Fitzwilliam Capital Partners
When it comes to UK property hotspots, at Fitzwilliam Capital Partners, we know what we’re doing.
For years, we’ve been scouring the UK to find the best property opportunities for both ourselves and our investors. Through vigilant research and our many years of experience we identify these growth areas. And, because success is in our interest too, property investors can rest assured that they’re working with developers who have thoroughly researched the areas where they’re investing.
And we believe Pontefract is one of these areas.
The Malthouse, Pontefract
We have a number of developments planned in Pontefract. The first of these is The Malthouse.
Located in the centre of Pontefract, this luxury development of 75 units offers a choice of living styles. Investors can choose from affordable one-bedroom apartments to stylish two-bedroom duplexes. Some of these apartments even have generous outdoor spaces – a commodity that’s highly sought after when it comes to apartment living.
For investors looking for properties with even more outdoor space, the Malthouse development also boasts four-bedroom townhouses. The development is also private and gated, with allocated parking available.
Whether you’re a first-time investor or someone who’s looking to add to their property portfolio, we want you to get the most out of your property investment.
Contact us today to learn more about our investment opportunities in Pontefract. Call our team on 0161 641 3100 or email us at hello@fitzwilliam-cp.com for more information.