3 Crescent, Salford,
0161 843 183
Since establishing Salboy, we have developed more than 1,400 high-quality homes across the UK and financially supported work on many other UK properties. However, wherever we work nationwide, our aim is ultimately the same: to help provide property developments that, largely by dint of being in prime locations, are attractive both for people to live or work in and for investors to invest in.
In pursuing this mission, we are always careful to ensure that each of our developments sits seamlessly amidst its surroundings – and so, once finished, looks as though it has long been integral to the site. This is why, when we do actively develop a property, we are involved at every stage of the process – from planning to assembly and, finally, signing off on the finished build.
This approach enables us to firmly safeguard the quality of the build on measures including sustainability, which is a key part of our company’s ethos. It also means that, once we have handed you the keys to a property, you can be confident of soon handing them to someone interested in purchasing or renting at least part of the building from you, the investor. This is especially applicable when the home has a backdrop as sumptuous as St Ives, the consistently popular seaside resort in Cornwall. Generations of people have already been attracted to living in St Ives, including the sculptors Barbara Hepworth and Naum Gabo in the twentieth century.
Many other people today are likely tempted to follow suit. St Ives already has a buoyant property market, with many people keen to locally set up what could be termed a literal ‘home from home’. However, investing in a holiday home here in St Ives doesn’t have to be your only option if you are considering embarking on property investment here. As we are experienced with developing a wide range of properties and are intent on doing so in St Ives, we could help you to acquire a multi-bedroom residence that you would be able to market to families. Young couples, meanwhile, might be looking into buying a rural house on the outskirts of St Ives.
As you can see, St Ives has more than a niche appeal – it can mean markedly different things to different people. Nonetheless, one thing all aspiring St Ives residents will have in common is a desire to move into high-quality residential accommodation. We are highly experienced with creating homes of this description and fitting them out with modern, useful amenities and facilities.
Though one of our specialities is handling the development of residential properties, we originally formed Salboy predominantly as a lender of financial support. Today, we continue to offer funding for both residential and commercial property projects led by experienced developers. So, if you have secured land in St Ives but currently lack the financial leeway to start developing the site, we invite you to get in touch with our team to learn whether you would be eligible for any of our development funding packages.
In any case, whether you would like to simultaneously spend on and develop St Ives property or prefer to stick to just the investment side, please contact us to find out more about the developments and opportunities we have available for our clients.
We know how important an investment property’s location is to its success. This is why we always conduct in-depth research into a particular location before we choose to build a property there. We routinely endeavour to situate properties in places that are ‘on the up’ economically. For example, when developing buy-to-let properties, we do so in places where rental yields are strong and expected to remain so in the foreseeable future. As we meticulously research geographic areas before building properties there, our clients can enjoy an enviable degree of confidence.
As an investor, you can take comfort from our vast experience of scouting various places across the country to discern those ripest for successful property developments. So far, we have built over 2,400 high-end properties nationwide – and the various locations where we operate and which we have researched at length include Manchester, Salford, Newquay and West London.
With every property development project we spearhead, we work to ensure that the finished development will be truly meaningful and beneficial to the wider community as well as the lifestyles of any individuals, families or other people who could seek to purchase or rent the property.
Numerous legislation and tax changes have recently been introduced in the buy-to-let sector – where, for example, private landlords who pay higher or additional-rate tax are now eligible for less tax relief than before. It is also now necessary for fixed electrical wiring and installations in all of the UK’s privately rented properties to be checked by a qualified electrician.
For buy-to-let investors, one notable upside of the raft of additional regulation is that the private rented sector is being held to even further professional standards than before, therefore helping to instil tenants’ trust and making them inclined to rent for longer. All of this means that buy-to-let property investment remains effective as a long-term investment strategy – whether you use it to bring in a second income stream or as your main business. On our website, you can read more of our thoughts on why buy-to-let investment is worthwhile in 2021.
We also spend our time developing off-plan property – a term used for property put up for sale months or even years before it is physically completed. You might be pleasantly surprised to learn about many of the merits of investing in off-plan property, such as how doing so could assist you in mining impressive capital growth and future-proofing your investment portfolio.
Despite challenges like the COVID-19 pandemic, the UK property market remains in good health. In 2020, the UK’s real estate sector generated a turnover of more than £68.1 billion – and the country’s commercial real estate market is among Europe’s strongest.
St Ives has established itself as one of the UK’s most popular seaside towns, having been awarded the title of the country’s best on multiple occasions. St Ives actually has four beaches: the Porthmeor beach for surfers, the cove of Porthgwidden, Harbour near the working port, and Porthminster. Visitors to St Ives can make the most of those beaches in an oceanic climate that bucks the trend nationwide and even in much of northern Europe. Many people are also drawn by the area’s large amount of sunshine, which exceeds the national average.
Key to the appeal of living in St Ives is that, as the town is relatively compact, all of its attractions are within walking distance of each other. So, from the town centre, you could easily reach such sites as St Ia’s Church, the St Ives Museum and the Barbara Hepworth Museum. However, for many residents of the area, the appeal of living in St Ives doesn’t have to do with just St Ives itself. One good case in point is Carbis Bay, another Cornish seaside resort – and one located only one mile southeast of St Ives and on the western coast of St Ives Bay.
All of this helps to explain why St Ives is persistently popular with holidaymakers, with one in four St Ives properties now second homes or holiday lets. The town’s status as a hotspot of second homes has had a knock-on effect on local house prices, which have continued to grow quickly. On average, those prices had already broken past £320,000 by 2016, but surpassed £350,000 within the subsequent few years. The demand for luxury holiday homes in the area remains strong – and it’s a demand we could help property investors to meet with supply.
Rental homes are also at a premium locally, with the number of short-term holiday lets available in St Ives having significantly outweighed that of long-term house rental opportunities. The average rent for a two-bedroom home in St Ives was £719 as of 2020 – and, the following year, the annual yield of holiday lets in St Ives was said to be 3.2%.
Of course, there is a long history of property development in St Ives and its surroundings – with the enchanting architecture of Harbour House, a residential care home in the Cornish coastal village of Portreath, typifying much of what you can expect to see elsewhere in Cornwall. Fortunately, as well as building entirely new properties in St Ives, we can renovate and refurbish existing ones inside and out, enabling many investors to snap up local property that is rich in heritage character but has been cleverly re-engineered to suit today’s practical requirements.
It is certainly encouraging that £19.9m has been earmarked for the St Ives Town Deal – a multifaceted package of developments aimed at delivering “economic productivity through urban regeneration, planning and land use, skills and enterprise infrastructure and connectivity”. The visionaries, including local communities and businesses, behind the Town Deal have declared their intention to welcome new visitors, foster sustainability and attract new enterprise for St Ives – in the process capitalising on such local assets as prestigious heritage and stunning coastal scenery.
Economic growth will doubtless be even further facilitated by the recent completion of what Network Rail has hailed as its “biggest track investment on the St Ives Bay line in Cornwall since the 1950s”, with about 1.5 miles of new track having been added. The St Ives train station sits on the St Ives Bay line, which connects the town to the wider UK rail network – making even such bustling hubs as Manchester and London readily accessible from St Ives.
Though the COVID-19 pandemic has shaken the UK property market and investors’ confidence in it, recent statistics suggest that, conversely, now could be an especially promising time for many investors to put more of their money towards UK property development. One simple reason why is property’s proven resilience as an investment asset, with its value often having snapped back to its former state in the aftermath of an economic crisis. Another reason why is that, nationally, the population is set to outpace housing in growth for the foreseeable future.
The 2021 census suggests that the number of UK households will reach 28 million within just two years. The UK population is also growing more quickly than that of most other European countries, only fuelling the already exceptionally high demand for UK property. It is projected that as many as 250,000 new properties could need to be built just to accommodate this population growth. However, with rising property prices having deterred many young people from buying homes, you could amass especially lucrative returns from buy-to-let investment.
Investors can realistically anticipate seeing increasingly attractive yields in the rental market, though there could be a few surprise costs, too. According to market forecasts, costs for buy-to-let investors could fluctuate by up to 10% in the near future. So, investors must still be careful about exactly where they place their money and when. Choosing to invest in a location primed for economic growth and attracting demographics likely to be interested in buying property would bode well for your property investment journey.
Here at Salboy, we are already well-trained in spotting favourable opportunities in the property market as they emerge. Our property experts can subsequently act quickly on these opportunities and commission the development or redevelopment of suitable property. And, what makes a property ‘suitable’? We prioritise property geared towards the practical needs and aesthetic tastes of local buyers and renters. The more precisely it is tailored to attract these people, the larger the profit you are likely to gain from it – whether you opt to sell or rent it.
Nonetheless, finding success in property investment – however much the market might be flourishing – would depend on you enacting a strategy that has been carefully thought through. Various factors are at play here, like the type of property you buy, your attitude and what advice you receive. If you are having difficulty choosing between a ‘buy-to-let’ and ‘buy-to-sell’, keep in mind that our online guide ‘How to Invest in Property: Top Tips for Property Investment’ details how these two approaches differ so that you can more easily make a choice.
As for your attitude, it’s worth heeding that property investment – especially for novices – can sometimes feel like a punishing beast. Property values can suddenly go up or down just when you were expecting them to do the opposite – and there’s always something new to learn. So, it would pay for you to embark on property investment with a positive, can-do attitude – one that helps you to weather the storm when the property investment waters get choppy.
None of this is to say that you need to learn everything on your own. This is why we are available to help you with various matters – such as finding funding and choosing the right investment property.
As it would obviously be in your financial interest for your investment property to attract strong interest from tenants and garner high occupancy levels, we do a lot of legwork to make sure the properties we develop suit their surroundings. Many of our projects augment broader regeneration schemes intended to spur economic growth and prosperity locally. With all of our property development projects, however, we take a long-term approach that takes into account what people in or moving to the area want in a home there.
We regularly partner with other companies to get the job done – and we oversee every single part of the development process, from identifying potential sites and securing planning permission to eventually handing over the property to whoever buys it from us. Our properties are bought directly from us too, without having to approach an estate agent and pay the fees they would usually charge as a property changes hands under their supervision. The investor can also have plentiful belief in the quality of the property itself – as, in our mission to develop properties of no-compromise quality, we never try to cut corners or save money.
Sustainability is also at the heart of our property planning and development work. Our intention is that every single one of our developments includes a large amount of pleasing and soothing greenery.
St Ives is a part of the country with both established success and unrealised potential in abundance. These factors have driven us to target the area for further property development. In 2020, 11,500 Google searches were made for holiday homes in St Ives. This has made St Ives the UK’s fourth most popular destination for holiday homes among the country’s urbanites – with the pandemic and Brexit having together motivated many of them to investigate potentially going holidaying in the UK rather than abroad.
St Ives is already on course for a round of investment that should render it an even more attractive place to live and work. Of the £19.9m St Ives Town Deal money, £4.3m will go towards a Low Carbon Transport Hub increasing the number of eco-friendly commuting options, while £11.6m will be used to repurpose the historic Palais de Danse in the town centre as a training hub.
Improving the skills of local people will undoubtedly improve job prospects in the area – as will the £1.4m that has been set aside for breathing new life into 500 square metres of buildings in St Ives and, in the process, turning them into high-quality and affordable commercial floorspaces. Furthermore, we can add to these developments, building homes reflecting the arty and laid-back vibe that, in 2020, led to St Ives being declared the happiest place to live in Great Britain. We build homes that are conveniently located and have state-of-the-art decor attractive to tenants and thus investors as well.
All in all, you can rest assured that, if you are looking to unearth new, promising opportunities for property investment in St Ives, we can help. You can phone us on +44 (0) 161 884 3183 to enquire about new sales or reservations. We can also be reached by email via firstname.lastname@example.org with our UK office open on a Monday-to-Friday basis from 9am to 5pm.