Ranked as the 10th best buy-to-let postcode in Britain by Totally Money, making it Bradford’s buy-to-let hotspot, has been Bradford’s BD1 postcode ‘Little Germany’. The district beats postcodes in major UK cities – including Manchester, Liverpool, Leeds and London – for expected yields for property investors at 8%.
This area of Bradford went under massive redevelopment a decade ago and is currently undergoing additional renovation. This new development will truly modernise the BD1 region. And also repurpose the district’s historical buildings into modern offices, apartments and hotels.
Little Germany is home to the city’s cathedral, beautiful sandstone warehouses and other displays of Victorian architecture. Also, this is where you’ll find Bradford’s creative district with a number of galleries and the Bradford Playhouse. There is even a large mural to David Hockney here.
A major appeal of Bradford’s buy-to-let hotspot, Little Germany, is its location. It is just a minute’s walk from the £250 million Westfield shopping centre with its well-known retail outlets and numerous eateries. It is also the home of major employers, such as the international retailer Grattan Holdings. Within walking distance are some of Bradford’s other biggest employers, including Yorkshire Building Society and Morrisons.
High Student Population
Little Germany is a popular area with Bradford’s mostly youthful population, therefore creating high demand for rental properties. Young professionals and students alike are keen to live here and experience city centre life. Due to the low average property price of just £65,889, the BD1 postcode is a great investment opportunity for new and experienced investors alike. Average monthly rents in this area are £439 and yields are 8%.
Part of the reason for these excellent returns is the growing student population in Bradford. Which has majorly increased over the past few years. Furthermore, with over 10,000 students currently in Bradford – many of them looking for vibrant city centre living – Little Germany is a great place to invest in student property.
Large Levels of Funding
Bradford itself is seeing large levels of funding being poured into the city and is perfectly placed to benefit from the Northern Powerhouse scheme. Bradford already has excellent transport links, which will further improve with the Northern Powerhouse. Leeds is just 10 miles away and Manchester and Liverpool are only a 90 minute drive. All over the UK used to reach cities can be the city centre railway stations. The international Leeds Bradford airport is also just 20 minutes by car.
Therefore, if you’re interested in adding a Bradford property to your buy-to-let investment portfolio, contact North Property Group today.