An agency which has for the past 11 years specialised in south west London is now expanding with a new office in Manchester, aiming at wooing investment clients.
Orlando Reid, led by co-founders Baljit Arora and Jack Reid, say Manchester is ripe for buy to let, Build To Rent and other property investment.
The city has received substantial investment in recent years, making it very attractive to investors, according to Arora.
The city has seen a five year increase in property prices, with the average home increasing by 35 per cent in that period.
In 2020 alone, residential property prices rose by 5.7 per cent and in light of this capital appreciation and achievable rental yields of approximately 6.0 per cent, he claims Manchester has established itself as a hub for international property investment.
“We are delighted to embark on our expansion journey into the vibrant city of Manchester. Facilitating relationships between developers and investors will be key to the running of this office; we pride ourselves in providing specialist property investment advice to UK and overseas clients, seeking properties that deliver optimal rental returns and capital appreciation” he comments.
And he concludes: “The opening of our Manchester office is a pivotal point in the growth of our business. We currently have 25 employees and in the coming months we will be recruiting additional staff to work within our property management, sales and marketing divisions. Our vision for Orlando Reid over the next five years is to have several offices in key locations throughout the UK, with a strong focus on global property investment.”
This post has originally been featured in Letting Agent Today.