London-based estate agency Orlando Reid is opening an additional office in Manchester - the start of a long-term growth programme for the company.
Orland Reid has already operated for 11 years in south west London, where it has two offices and employs 25 staff.
Now its new Manchester operation is aiming to provide bespoke property guidance to UK and overseas investors in this fast-expanding city market; additional staff recruitment will begin in the coming months.
Baljit Arora - one of the agency’s co-directors alongside Jack Reid - says: “We are delighted to embark on our expansion journey into the vibrant city of Manchester. Facilitating relationships between developers and investors will be key to the running of this office; we pride ourselves in providing specialist property investment advice to UK and overseas clients, seeking properties that deliver optimal rental returns and capital appreciation”.
He says Manchester has received substantial investment in recent years, increasing its attraction to investors.
It’s seen an average 35 per cent capital appreciation in five years, while in 2020 alone values rose 5.7 per cent; with achievable rental yields of around 6.0 per cent Manchester has established itself as a hub for international property investment, he adds.
Arora continues: “Our vision for Orlando Reid over the next five years is to have several offices in key locations throughout the UK, with a strong focus on global property investment.”