There are a handful of elements to take into consideration when entering into the buy to let market.
However, one of the major giveaways for property hotspots is regeneration. Cities that are currently receiving massive cash infusions are usually top locations for property investment.
As well as influencing the potential yields, improved areas with modern facilities will attract larger portions of the population, with hopes that their urban experience will mirror a similar progress to that of the surrounding landscape.
A prime example of how regeneration is positively impacting on the property industry is evident in the city of Liverpool.
For years, Liverpool was dubbed an industrious city specialising in trading goods through its huge port, but in the late 20th century, the heavy reliance on this segment of the economy turned out to be its biggest pitfall.
Regeneration has redefined Liverpool as a city, taking it from decline and decay on rioting streets to the Capital of Culture in 2008.
Diversification of the economy and has aided its economic growth over the years in this ‘rags to riches’ transformation. As more developments are built in various sectors such as leisure, business, health, education and transport, increased employment opportunities contend with the rising population.
Tenants have picked up on the positive progress, and it seems investors have too with Liverpool dominating the top post codes for returns on property investment.
Let’s Take a Look at Liverpool’s Transformative Schemes
The leisure and shopping complex, Liverpool ONE, was developed in 2008. Costing £960 million, it was considered by some as the catalyst for future regeneration across the city. The 42 acres of redeveloped land is home to retail shops, cinemas, hotels, restaurants and bars to name just a few, and generated 5,000 permanent jobs. It’s thought to be the main pull for many thinking about moving to the area, powering Liverpool’s unrivalled tenant demand.
Just a short walk from Liverpool ONE, the Baltic Triangle concentrated on transforming derelict warehouses into interesting recreational destinations and offices. Many digital agencies have chosen to locate here because of the creative vibes running throughout this hip and cool place to be. Its redevelopment has produced a unique area for property investment.
The RopeWalks regeneration plan lined its streets with bohemian cafés and individual shops where ropes used to be manufactured for Liverpool’s ships. RopeWalks has also become a kind of commercial hub, providing a pleasant location for working professionals. Businesses such as RWinvest have relocated their headquarters to Liverpool from more expensive office spaces in London.
Health and Education
The Knowledge Quarter is a constantly changing part of Liverpool with its roots firmly planted in health and education. A hotspot for student developments and residential properties, more than £1 billion has been dedicated to regenerating the expansive zone.
The Royal University Hospital got £335 million ploughed into its renovations whilst there are proposals for a brand-new cancer treatment centre planned for Paddington Village.
The University of Liverpool’s Tropical School of Medicine and other expert buildings such as the Bio Innovation Hub put Liverpool on the map for research and development and attract undergraduates and postgraduates alike.
Improvements to Moorfields, Liverpool Central and Liverpool Lime Street stations are ongoing and allow for more passengers travelling on a streamlined service. It’s easier than ever for students, commuters and tourists to get around the city and it’s only going to encourage more to search for accommodation in close proximity to the extensive network of rail links.