Property Management

Manchester’s Recovery Plan following on from COVID-19

Jul 12th 2020

The ‘Road to Recovery’

A recent report has been published setting out Manchester’s Recovery Plan post-Covid-19. 

The works are designed to rebuild the people, economy and all businesses within the city. These will start with the revision of the ‘One Manchester Strategy 2015 – 2025″. Local MPs are looking to reposition the strategy in order to combat the effects of COVID – 19. 

The strategy is in five parts, which cover :

  • Building a thriving and sustainable City
  • A highly skilled City
  • A progressive & equitable City
  • A liveable & low carbon City
  • A connected City

It has been reported that the revised strategy of Manchester’s Recovery Plan will be approved in 2021. 

Andy Burnham – The Mayor of Greater Manchester – has spoken out to say “the impact of the pandemic on high streets should be viewed positively, as an opportunity to reshape how town centres are developed.” 

The detailed recovery plans for Manchester will complement a wider Greater Manchester plan. These will be designed & rolled out through a collective approach, with residents and businesses.

SDLT

The Chancellor of the Exchequer – Rishi Sunak – has today announced the scrapping of SDLT (stamp duty) on all homes under £500,000 with immediate effect. The temporary cut will be in place until 31st March as a minimum. This will raise the threshold for paying stamp duty from £125,000 to £500,000 with immediate effect. 
At present, SDLT is not charged on the first £125,000 of a property’s selling price. 2% is payable up to £250,000 and 5% on the next £675, 000. 
In the same announcement, Sunak has provided information on the package he has created to combat the potential effect of unemployment which includes:
  • A £1000 bonus for every furloughed worker kept on by employees
  • A 10% discount for each meal eaten at a restaurant next month      
  • VAT within hospitality cut to 5% until January
  •  A £ 3 billion green package, with grants for homeowners and public buildings to improve energy efficiency.
If you own a property or are looking to expand your portfolio, please do get in touch with our team. They would be more than happy to discuss how we can strengthen your current portfolio or provide further information on available investment opportunities.

Greater Manchester has one of the largest student populations in Europe. Around a million people are studying across the five higher learning institutions at any one time. This makes it a perfect place to have a managed property for a multitude of reasons.

Firstly, it’s a constant stream of renters. Students rarely (if ever) buy a property and most will either leave Uni halls in their second year or opt to rent from a landlord right from the outset. This means that a property within a fair distance of their chosen campus will have no shortage of interested candidates!

“Aren’t they messy, noisy and bad with paying rent?”

On the whole, not as much as you might think. The stereotype of messy students is overplayed for sure. It’s also something you don’t need to worry about with our property management Manchester service. We will vet all tenants, perform regular inspections and take all other steps to ensure your property is secure and well looked after.

If you are in need of property management services in Manchester, or just want to chat about the possibility, feel free to get in touch with us here or arrange a time to pop in and see us at one of our offices. Our teams have a wealth of experience in their respective fields and will do everything they can to make the process swift and simple.

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