Leading International Off-Plan Property Consultancy, LH1 Global, has reported a significant rise in activity from African buyers at multiple developments across the UK, with enquiries and reservations from buyers based in Africa up 75% in the past 12 months. Currently, the most popular locations are northern powerhouse cities where multiple regeneration projects provide more opportunity for value growth.
LH1 Global has secured multiple sales and reservations to African buyers at its residential developments LOMAX in central Manchester and The Printworks, a former print factory in Bradford, with the most popular price points ranging from £120,000 up to £352,950. The majority of purchasers originate from South Africa, Nigeria and Kenya.
Rayna Hunter, CEO of LH1 Global commented: “Property in the UK has always been an attractive investment to international purchasers, as they are drawn by the relative political stability in the country and the strong performance of home values over the past decade. London has always been the most desired destination, however, the market has overheated and overseas buyers are now looking further afield to source the best returns.
“The international market tends to be cyclical, with specific nationalities coming in waves, which is often driven by circumstances within their own country or following strong market performance. In recent years we have seen a surge in Chinese, Middle Eastern and American buyers and now there is a drive from African investors looking to take advantage of a subdued market. There is a lot of potential in high-quality new-build homes, especially in key northern cities, as vast regeneration and infrastructure projects offer excellent value growth potential.”
Despite widespread stagnation and a marked cooling off of activity and value growth engulfing the UK property market, certain northern locations have remained buoyant.
House prices in Manchester have soared by 330% over the past 20 years, which makes the former industrial city the best performing property market in the UK over that time period. However, with new developments and regeneration projects in progress and on the horizon the city’s property market potential has far from peaked.
Another emerging hotspot is the West Yorkshire City of Bradford, the UK City of Culture for 2025, which has seen average property prices rise by 7% in the past 12 months, with over 7,000 homes sold in the same period.
Two LH1 Global developments currently generating the most interest from African based buyers are:
LOMAX, Manchester
LOMAX is a collection of 41 contemporary apartments in the heart of Manchester’s Northern Quarter. Starting from £239,950 the one- and two-bedroom homes, set within an attractive eight storey residential building, that has been designed to reflect the industrial heritage of the area, are already 30% sold.
Occupying a prominent position on Ducie Street, which was once home to rows of Victorian era red brick commercial buildings, LOMAX features a detailed brick façade and large glazed windows with bronze detailing, which combine to create a modern warehouse aesthetic.
The homes at LOMAX, which range in size from 468 sq. ft. to 989 sq. ft. are also fitted with the latest home technology, including smart electric radiators and secure camera intercom systems. There is also secure bicycle storage.
The Printworks, Bradford
The Printworks comprises a collection of 137 one and two-bedroom apartments, with prices ranging from £120,000 to £155,000.
A landmark development for the city, The Printworks is the former home of the renowned Hallmark Cards and consists of a stunning Grade II-listed conversion, with two ground-up new build blocks, adjacent to parkland, a golf course, and a school.
For further information on LH1 Global and its development offering across Yorkshire and the UK visit www.lh1.global or contact Tel: 0207 129 7900 or Email: [email protected]
