Article Summary

Trafford Council have approved plans for a new venue redevelopment project at Manchester’s Emirates Old Trafford.

The project, which was put forward by Lancashire Cricket Club, will create a new sporting and commercial hub at Old Trafford. This will help make Manchester even more of a destination city and further boosting the local economy.

Major plans

The plans include proposals for a 1,025-seater stand with enhanced pitch-viewing facilities, a heritage centre, a guest services hub and a new retail outlet.

Also included in the project plan is a major expansion of the Hilton Garden Inn Hotel. A new extension will be built within the existing stadium’s footprint. This will increase the hotel’s bedrooms by 100, taking the total up to a capacity of 250.

The hotel’s events capacity will also increase by 200 guests. This will help establish the Trafford area of Manchester as a key location for conferences and events, as well as a sporting hotspot.

This is the latest in the scheme to transform the Trafford area around the Town Hall. Previously approved by the council were plans for new homes and offices – possibly including some that could be high yield investment properties – and improved cycle and pedestrian routes.

Economic boost

The redevelopment of the Old Trafford ground promises to boost the already thriving local Manchester economy.

Daniel Gidney, Chief Executive at Lancashire Cricket, said, “This redevelopment will play a key role in the Club’s long-term financial strategy. The revised plans provide greater revenue generation opportunities in the short and long term.”

Leader of Trafford Council, Councillor Andrew Western, said, “This is a fantastic development which will make Emirates Old Trafford a truly spectacular sporting arena and one of the biggest in the country.

“The scheme will also provide huge benefits to the local area in terms of employment and improved local amenities, and will keep Trafford firmly on the sporting world map.”

Property investment opportunity

The announcement of the plans is just the latest in exciting development news for Trafford. Another project is the construction of the high yield investment property, No. 1 Old Trafford.

This development scheme is in a fantastic Manchester location just a stone’s throw from the Old Trafford football ground. Every apartment is luxuriously designed, including stunning floor to ceiling windows to maximise natural light. Residents will also benefit from a 24-hour concierge and rooftop gardens.

Units for buy-to-let investors at No.1 Old Trafford start at just £170,000 with yields expected to be 6%.

What is property investment?

Put simply, property investment is property purchased with the intention of generating financial returns for its buyer. These returns could be in the form of rental income through buy-to-let properties, house price growth through the future sale of the property or both. Property investments can be owned by individuals or organisations and can be short, long or medium term.

Get in touch

For all of the latest information about Manchester property investments and to start your own property investment journey, contact the experts at North Property Group now.