Rejuvenating Manchester High Streets

Rejuvenating Manchester High Streets

In August of this year, we blogged about ‘Town Team pilots’ being rolled-out in the wake of Mary Portas’ High Street Review and the value of such entrepreneurial approaches to rejuvenating Manchester high streets, and across the country. You can read the blog post here.

Following on from this, it has recently been announced that Manchester Council is to inject more than £300,000 to breathe new life into Greater Manchester high streets – specifically, Levenshulme and Cheetham Hill precincts after they both missed out on cash from the Government’s Portas Pilot programme.

Funding for Manchester High Streets

Both of the aforementioned areas did receive £10,000 consolation funding from the Government after bids for greater funding failed earlier this year. However, Manchester Council’s decision to provide far greater funding to promote these Manchester high streets, drive shopper footfall and help bring fledgeling local businesses on to the high street is significant and likely to achieve long-term results.

A council spokesperson has already talked-up the benefits of tackling aesthetically displeasing unfilled premises in the funded areas, however, here at The House Crowd, we believe the true value of the newly announced funding will be to attract further private development, transport investment and leisure facilities – all of which are central to increasing property value and key ingredients for building self-sustaining inner-city communities.

The House Crowd and Property Crowdfunding

Property crowdfunding is now taking the investment world by storm, following our brave debut onto the scene in 2012. We were the first (and continue to be the best) platform for property crowdfunding.

We are proud to offer better returns on investment than many other investment models, and allow people previously locked out of the property market to benefit from the lucrative world of property investment. What’s more, we’re helping bring much-needed new homes across the Greater Manchester area.

For more information on the process of getting involved with property crowdfunding, visit our Crowdfunding Process page.

We are committed to breathing life into empty, rundown properties whilst giving investors great returns on their investments.

To find out more about getting great returns on investment with The House Crowd, start by getting to know us here.

The value of property revival

At a time when high-street shops are struggling more than ever, it is a welcoming relief to learn that the Government, following on from Mary Portas’s High Street Review, will be implementing a number of high street – Town Team pilots across England to further support regeneration.

Earlier this summer it was announced that twenty-seven town centres across the country, including Morecambe and Stockport, would receive a slice of a £2.7million budget and a tailored package of support for rejuvenation from both the Housing Minister and celebrity retail guru, Mary Portas, as part of the Portas Pilots.

Towns which missed out on the Portas Pilot competition are still able to apply for a new package of support, which includes multi-million pound financial incentives from the Government and access to advice and support from leading retail experts. In addition, those towns which succeed in regenerating their high streets can apply to be considered for the Future High Street X-Fund and potentially win a share of the £1million prize on offer.

The value of such initiatives cannot be underestimated from a property perspective. Breathing life back into rundown town centres not only increases the aesthetic appeal of an area, but also attracts further development, transport investment and leisure facilities – all of which are central to property value. Here’s hoping the numerous incentives on offer for an entrepreneurial approach to town centre rejuvenation can be the turning point in fortunes for high streets across the country.

At The House Crowd we use our expertise to look beyond the current state of a rundown property and consider what it can become with our investment. Informed property selection, followed by shrewd refurbishment, allows us to offer investors a typical return of 12%-14% in approximately 6 months on our short term develop and sell projects.