A rebranded agency is now focussing on selling only tenanted buy to let properties in what it calls ‘second tier’ cities in the north of England.
Manchester-based Edgertonz says it cuts out middle-men – presumably the process of finding tenants to occupy units – and instead “brings forward income generating assets for investors to enjoy rental returns from the day of purchase.”
It says selling off-plan properties carries substantial risk, which this strategy eliminates.
Managing director Richard Peck says: “Having worked with over £1 billion worth of property portfolios and completed over 5,000 residential property deals in the past 17 years, we have gathered the experience and knowledge for the best way to develop and invest in top quality tier-two cities in the UK.
“[These are] cities where property demand is high, the supply is low and where rental returns are higher than in top-tier cities.
“Following our successful rebrand, our primary focus is to bring forward and source completed properties with rental income already secured in popular tier-two cities where property prices are due to increase dramatically in the coming years.
“Investing in completed property helps to reduce customers risk in comparison to purchasing off-plan buy to let properties, where rental returns cannot be assured.”
The agency says a recent Royal Institution of Chartered Surveyors report suggested cities in the north west have strong expectations for price rises in the year to come, with tenant demand in the lettings market on the rise for four consecutive months.
This post has originally been featured in Letting Agent Today.