Buy To Let – Cheapest Town To Live Could Be Best Place to Make an Investment.

Image shows L to R: Mark Stewardson, Paul Ainsworth-Lord, Phil Stewardson

The Lancashire town of Blackburn, could become the new Buy To Let hotspot after being revealed as being the best place in Britain to make a living.

The survey, carried out by a credit comparison site, found the cost of housing in Blackburn, was amongst the lowest in the country, this combined with a strong job market is what marked it out for the number one spot - and which means potential healthy margins for smart investors.

Stewardson Developments, a West-Midlands property developer, recently shifted their focus north to the area and pledged £1,000,000 to convert swathes of run-down property into homes.

Local Estate Agent Paul Ainsworth-Lord, who runs Ainsworth-Lord Estates, said the interest in the area began five years ago.

He said: “We identified development potential across the region long ago and have quietly been working with a group of developers and Investors for almost five years.

“There is a huge amount of derelict residential and commercial property and it’s great to encourage outside investors to breathe life back into these properties to create homes and jobs.

“We are careful to only work with investors we know will invest and improve our local communities and in doing so we have grown Ainsworth Lord Estates into a leading agent for sales and lettings in Lancashire.”

Phil Stewardson, who runs Stewardson Developments, with his brother Mark, had concentrated all their investment in the West Midlands where their business is based.

But after extensive research, they recently pledged a £1,000,000 investment in Blackburn and the surrounding areas, which they believe offers a substantial yield, and have already purchased 20 properties.

Phil, said: “Two years ago we knew that we were moving towards an improving market and set about researching other areas to invest in, we considered four regions: Northern Ireland, North East, Devon/Cornwall borders and the North West.

“The North West stood out immediately as having huge potential, lots of businesses moving into the area, a plentiful supply of property ripe for development and excellent transport links.

“So as well as being confident in the area we found a superb  sourcing and managing agent in Ainsworth Lord Estates that we could work with  so started investing there 12 months ago. The strategy of buying poor quality houses, retail and industrial stock has worked well.

“By investing and bringing these up to a good standard we have found strong demand and our portfolio is going from strength to strength buying in Blackburn, Hyndburn, Burnley, Accrington and Darwen’.

Ends

Sent by jwc on behalf of Stewardson Developments and Ainsworth Lord Estates.

Sent by jwc on behalf of Ainsworth Lord Estates and Stewardson Developments

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