Chester 'increasingly attracting landlords'

News Category: Industry News

Landlords are increasingly opting to buy new properties in cities - like Chester - which offer both heritage and modern comforts, an industry expert has said.

Recently, Chester's local authority unveiled plans to increase the number of houses built on nearby brownfield land in a bid to reduce the shortage of housing in the area.

However, Rachel Graham, a senior negotiator at PropertyDealsUK, explained that landlords were already coming to Chester to invest in property there.

She explained that tenants liked the fact that the city was both ancient and modern, adding that it was popular "because of the heritage, because of the racecourse, the city living [and] the new modern things".

In addition, landlords were attracted to the city because it was still possible to pick up large properties at reasonable prices and convert them into multiple rental units.

"There are more investments at the moment, especially in rundown, larger properties, at good prices in sought-after places such as Hoole," Ms Graham concluded.

"There are a lot of investors around at the moment."

Launching a new government initiative to increase the supply of housing in the UK, minister Yvette Cooper said that more properties needed to be created in both rural and urban locations throughout the country.