Property investors will be seeking safe and thriving markets which promise strong, reliable returns now more than ever, post-coronavirus. This article discusses whether the fast-growing, serviced accommodation sector could be one solution.
It focuses on Carnaby Place, a new residential development of 96 units close to Manchester city centre, which it says represents an excellent opportunity for any property investor’s portfolio, especially in view of the recent stamp duty cuts.
The development provides a professional management service, allowing investors to rent out the homes as short-term lets and serviced accommodation available for short or long-term stays, with hotel-style amenities, room service and housekeeping.
Even though the coronavirus crisis may affect the serviced accommodation market after a downturn in business travel and transient renting, there is still a growing demand for city centre living that comes with a sought-after lifestyle, with a 24/7 concierge service, gym and secured residents parking.