When investing in rental property it is important to understand the key property features that will ensure a higher return on investment (ROI). By considering the future residents and desirable features, you can increase the demand for the property, and make your property investment more profitable.
1. Location
The location of your property is a fundamental factor to consider. Residents living in top cities, such as Manchester and Birmingham, will expect the location to be within walking distance to a variety of conveniences, including local transport links, enticing eateries and exciting entertainment. For a profitable investment rental property, the location is key.
One example of a desirable city location is the vibrant Northern Quarter in Manchester city centre – an unmissable neighbourhood and an international hub for food and drink. This spectacular corner of Manchester is appealing to an array of different people and property here is in high demand with limited supply. One Port Street is ideally situated in the Northern Quarter, bordering two of the most dynamic and popular streets in Manchester – offering a canal-side, cosmopolitan environment.
Looking across to another elite UK city, Birmingham, there is Centenary Square. Known as the cultural heart of the city, Centenary Square is home to the biggest library in Europe in addition to acting as a global base for multiple international businesses. A stone’s throw from popular, trendy hang-outs, Centenary Square is the primary choice for young professionals. Edition Birmingham is strategically placed, overlooking this world renowned global hub, with 12,000 professionals working within 1km of Edition. With Birmingham a university and graduate hotspot, the job market thrives here with many young professionals choosing to reside in Birmingham city centre.
2. Unique amenities
Many upscale apartment buildings offer a range of amenities, it is important to select a property with unique, quality amenities that will maximise your property investment.
Edition Birmingham is a prime example of stand out amenities with each offering upgraded. The swimming pool area is a full modern leisure suite, with hydropool, ice plunge pool, sauna and steam room, reminiscent of a five-star spa. The gym impressively resides on the 44th floor, complete with state-of-the-art fitness equipment and a dedicated outdoor gym terrace.
In addition to fitness amenities, such as the rare, sought-after two-storey climbing wall, Centenary Tower, part of the Edition development, also boasts social amenities to transform every day living into the extraordinary. On the 45th floor there are ambient co-working spaces alongside private dining rooms, yoga studio and sky play area with golf simulator and shuffleboard. Apartments with added conveniences and exclusive, rare, amenities such as these, have higher value, with increased renter demand and therefore command greater rent prices.
3. State of the art health centre
With health and wellness at the forefront of people’s minds, a premium gym and health suite is essential to residents. To ensure your rental property investment will return a good profit, consider the health amenities on offer. With 46% of the UK population currently actively exercising, and 76% aspiring to be more active and healthy, a high tech gym is a high priority for residents on the rental market.
4. Outdoor space
Since 2020, the demand for outdoor space has drastically increased, with 69% of residents voting outdoor space as important, as shown in the most recent JLL tenants survey. City populations are booming once more, with the latest generation opting to work within a hybrid set up. Residents are valuing their outdoor space and communal areas more highly than previously, with buyers and renters alike making it a top priority.
Urban gardens are also trending, with residents eager to access a leafy environment, right from their own apartment building. With a dynamic rooftop terrace and 2,000sqm space for flourishing urban gardens, One Port Street, in Manchester is meeting residents’ requirements on all fronts.
5. A reputable developer
Reputation is everything when it comes to property. For residents selecting a new home, many look to the prestige of a property brand and refer to their new address as the apartment building and name, opposed to the location. By opting for a developer and management company who is deemed established, high quality, and trustworthy, you are increasing your chances for the property to command a higher rental price.
6. Open plan spaces
Open plan spaces are highly desired in the rental market, particularly in city centre locations. Due to offering a lighter, more spacious feeling, open plan layouts are appealing to the majority of residents based in top UK cities such as Birmingham and Manchester.
At Select Property our latest developments: One Port Street and Edition Birmingham, are designed with the city resident in mind. The aesthetic layouts of these premium apartments are open plan, with both luxury developments offering residents more light and a multi-functioning space to entertain guests. Centenary Tower, the tallest tower within Edition Birmingham also features bookable private dining rooms, set on the 45th floor to elevate every social gathering to new heights. This unique feature appeals to residents, who are eager to host family and friends within their apartment building.
7. Natural light
Natural light is one of the most in demand features for residents. Natural light is known to enhance well being, improve energy efficiency and boost productivity. It is also a key factor to increase property value. Properties with strong natural light appear inviting and spacious, therefore more desirable for residents. Investing in a property with good natural light is a smart, sure choice for enhancing the future value of your property.
When looking for a future home, residents also look for natural light in all aspects of the building. Edition Birmingham, with state-of-the-art designs, enjoys natural light in a variety of areas. From skylights illuminating the 20-metre swimming pool, to sunbeams flooding through the full length windows in the 45th floor sky lounge, Edition is designed to soak in as much natural light as possible, making it an excellent property investment set to gain value.
Property investment opportunities, tailored for you
If you’re interested in the finest property investment opportunities within the UK, Select Property can help. With over 20 years experience, Select Property has a wealth of experience in delivering market-leading results and bringing the most exciting property developments to top cities in the UK. Contact us today to discover how we can maximise your returns and expand your property portfolio.