Rochdale is one of Greater Manchester’s 10 Boroughs and it is named after its largest town – Rochdale. Other notable towns in Rochdale are Heywood and Middleton.
Rochdale is still one of the cheaper Boroughs in Greater Manchester, which combined with the strong rental demand in its towns, make it one of the higher yielding areas. You can still buy a 3-bedroom house for around £100-£130K which will rent out for between £600-£750 per calendar month. Gross yields above 7% are achievable.
Rochdale Borough does not have an article 4 directive in place, making it well suited to HMO’s in the major towns and close to good transport links.
The Metrolink is Manchester’s tram / light railway system which is one of the most popular and efficient ways of navigating the city. Rochdale Town already has a Metrolink station. Plans are currently underway to extend the Metrolink to include Middleton and Heywood which will increase their popularity with both owner occupiers and local renters.
Over the next 20 years, the Far East Consortium, Manchester City Council and partners will invest over £1 billion in the ‘Northern Gateway’ situated to the North East of the city centre and expanding outwards towards Rochdale. This is one of the largest and farthest-reaching development projects currently underway anywhere in Europe and will bring huge amounts of employment and create new communities in the area.
Further developments are planned at Stakehill and Kings Way South, forming what is being termed the ‘North East Corridor’. Check out the following websites for more.