Bolton’s strong industrial roots are reflected across much of the town, and this is also evident in the area’s higher education offerings, particularly at the university. Renowned for its focus on vocational study, the University of Bolton provides students with the opportunity to take on degree level learning on industry relevant courses that mirror the town’s history and heritage.
Bolton, situated on the outskirts of Greater Manchester, is home to around 14,000 students who attend the university, and they account for almost 10% of the entire population. Many of these students are attracted by the opportunity to learn relevant skills and abilities that will see them become more employable once their studies are complete.
Some of the student population are also attracted by the town’s successful sporting options. Bolton Wanderers Football Club are a particular draw, playing in the second tier of English football and having recently been Premier League mainstays. Playing at the state of the art Reebok Stadium, there is a feel good factor about sporting facilities in the town, attracting many sporting orientated students.
Many of the students are able to live in dedicated university halls of residence, but these are only available to first year students. Thereafter, returning students must find alternative accommodation, and this has meant a growing demand for affordable housing close to the university campuses.
As such, property investors are beginning to tune into the potential of Bolton as one of the student centres that has slipped under the radar somewhat. Although Savill’s spotlight touts Bolton as a positive option for investors, it also suggests that it is not one of the top performing places. However, this doesn’t take into account the lack of fierce competition, so it may not be a negative after all.
Instead, Bolton, like the rest of the UK, is enjoying a strong student property market. As a result, student property appears to be a sound investment, providing good profits on relatively low outlays. However, with competition still pretty low, and the university status steadily rising, it won’t long before the investors create a demand for student property investment in Bolton. That is why many investors are keen to get involved now and stay one step ahead of the competition.
While multi-bedroomed houses and shared buildings continue to be ever popular with students, Bolton is also now seeing a rise in purpose-built or converted student accommodation. These can offer additional privacy and luxury to students and they are rising in popularity, and therefore may be a wise choice for investors to consider.
These kinds of accommodation will always be popular with students thanks to their close proximity to campuses, and the higher standard of living that comes with them. International students are particularly interested in paying a little extra for added luxuries.
In new accommodation developments in Bolton, sales have been strong in the pre-development stages, and they seem a safe investment. Typically, they provide returns of up to 10%, and this is on top of low outlays.
The UK student population continues to grow, and Bolton is yet another town to benefit from this growth. As long as this continues, property investors are set to make healthy profits in Bolton.