Properties with Parking Spaces a thing of the past for Manchester Investors

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Properties with Parking Spaces a thing of the past for Manchester Investors

Plans for a new cycling and walking network called ‘Beelines’ has been announced in Manchester with its name an ode to the worker bee that symbolises the city so aptly. 75 miles worth of paths dedicated to cycling and walking will be designed taking influence from the style of Dutch cities such as Amsterdam where cycling is a popular and preferred method of travel for many citizens.

Investors in Manchester property who prefer to secure a parking space when purchasing units in high-rise apartment blocks may no longer have to with the alternative transportation methods being pushed by the local council as part of a scheme funded by the government.

Just one parking space can add thousands to investment bills but could now be a thing of the past with a £1.5 billion injection into sustainable transport in the city. Simultaneously cutting carbon emissions, there will be 1,000 lanes developed for pescatarians on foot and bikes as one of the first instalments to materialise across Greater Manchester. 75 miles of safe-lanes will be completely isolated from the traffic and cost £500 million alone.

The numbers of bike users and walkers are predicted to soar with the new implemented system that makes for an attractive substitute to sitting in busy Manchester congestion. The dedicated lanes will encourage those who are somewhat weary about riding alongside manic main roads to finally place their feet on the pedals. Aiming to get people to leave their car at home and get out and walk or cycle, the cash infusion will leave room for those who require a car to commute to work to find properties with several spaces available.

The investment comes in good time with Manchester’s city centre population trends recording a rise of more than 149% since 2002. Young workers and renters are moving to the city from all over the country and particularly London to escape the steep cost of living and to take advantage of the array of employment opportunities available.

Because of the rise in people, property has reflected an equal boost. In an attempt to solve the housing crisis which is just as evident in Manchester as anywhere else in the UK, the number of residential developments is slowly catching up with the increasing quantity of residents.

A major problem for many landlords when purchasing buy to let in the city centre has been the lack of parking spaces available with to offer tenants with properties. Investment companies such as RW Invest take on a number of new builds with car parking available, however, the new proposal could see cycle storage become a more common additional extra in developments.

With 50% of children cycling to school in Amsterdam and only 2% in the UK, there’s clearly a link between the safety and availability of cycle paths and the number of bikes on our roads. The new transport amenities will promote good health and exercise whilst also reducing traffic jams and air pollution in the local area which will see funding for cycling and walking surge to around £15 per head according to Andy Burnham.

In a bid to maintain Manchester’s strong global prominence, the huge backing from the government will help it to become one of the best places to live work and visit in the world.

Editorial Team
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