http://lauraeldret.com/projects/f.y.i Liverpool has been making headlines in 2017 for all the right reasons. The city has been undergoing unprecedented levels of regeneration and investment in recent years. A key part of the Northern Powerhouse, Liverpool is currently attracting attention from investors across the globe. And when you dig down into city itself, you can see why it is proving to be not just a popular choice, but a financially logical one.
Impressive Property Stats
visite site You only have to look at the numbers surrounding Liverpool’s booming property market to see just how much this city has to offer.
- According to the latest analysis from The Mistoria Group, rental property in Liverpool has seen a surge of tenant demand, rising 19% year on year.
- An average of 6.6 tenants are now chasing every shared room within new rental properties.
- 5 Liverpool postcodes, L1, L3, L6, L7 and L15, featured in TotallyMoney.com’s Top 10 UK property hotspots – in fact, the first four spots were all in Liverpool!
- Rental yields as high as 16.23% can be found in the city – that’s 11.08% higher than the best average yield in London!
- Average property prices in Liverpool are more than 30% lower than the national average.
- But with prices currently rising by over 7% (year-on-year) in the city, capital returns are reaching increasingly impressive levels.
- Analysis from The Mistoria Group has also revealed that over the last 12 months student rents in the city have risen by whopping 23%! – As of May 2017, they sit at an average of £128 per week.
Large Investment Projects
With over 252,000 businesses, access to six million customers and an economy worth more than £121 billion, Liverpool is the centrepiece of the second largest regional economy in the UK. And with the promotion of the Northern Powerhouse project, Liverpool has become a hub for large-scale regeneration and construction projects.
The city’s historic docklands had fallen into decay and dereliction following years of neglect. But the Peel Group could see the potential of this key part of Liverpool’s heritage and put forward a £5.5 billion plan to transform it into a modern, dynamic waterfront quarter. Divided into four distinct sectors, the development will feature four hotels, a variety of shops and restaurants, and 23,000 apartments over 21m sq. ft of new commercial and residential space.
Adding to the prestige of the scheme is the announcement that Premier League team Everton FC intend to build their new multi-million pound stadium in Bramley Dock, within sector A of the project. And the prospect of a possible monorail link with Liverpool’s John Lennon Airport, means the area will be served by top-notch transport infrastructure. It is thought this project alone will provide at least 17,000 full-time jobs and, in turn, create a substantial boost to the city’s economy.
Producing £1 billion in income per year, Liverpool’s Knowledge Quarter is currently contributing 15% of the city’s entire GVA! The area that sits between Upper Parliament Street in the south, Islington in the north, Grove Street and Low Hill to the east and Renshaw Street in the west, is home to prestigious institutions such as Liverpool John Moores University, the Liverpool School of Tropical Medicine, The National Oceanography Centre and the Philharmonic Hall.
The area provides education for 60,000 individuals as well as 14,000 full-time jobs. It has been built up to become one of the most successful Knowledge Quarters in the UK, thanks in large part to a variety of regeneration projects including the £451 million renovation of Royal Liverpool University Hospital and the £1 billion Paddington Village extension.
Since it opened in 2008, the Liverpool ONE shopping centre has helped turn the city into one of the UK’s Top 5 retail destinations. This incredible £920 million project turned 42 acres of underutilised city centre land into one the UK’s largest open air shopping centres. The 1.6m sq.ft retail, residential and leisure complex is home to a wide variety of shops, restaurants, cafes and bars, a 14-screen multiplex cinema and a five-acre park, as well as 600 new apartments and two hotels.
It also houses a large amount of office space and a transport interchange. The unique design is the result of more than 20 architects giving each sector of the development an individual look. This innovative approach led to the masterplan of the project receiving a nomination for the prestigious RIBA Stirling prize – an honour never before bestowed on a masterplan rather than a specific building. And between adding over 5000 permanent jobs to the area and attracting over 28m visitors, Liverpool One continues to provide a significant boost to both the city’s tourism industry and the local economy.
Prominent City Districts in Liverpool, UK
If you hone in on specific areas of the city, it’s easy to see why Liverpool is proving so attractive to investors. The city’s cultural heritage is on display in the architecture and design of many of the areas that are proving most popular at the moment. So sought-after are some of them, that they recently featured in Rough Guides ’50 Things To Do Before You Die’ list! With creative industries, trendy independent shops and restaurants, and desirable neighbourhoods to live, these bustling districts showcase the best the city has to offer.
This area within Liverpool’s exclusive L1 postcode gained its name, and its structure, from the numerous rope makers based there during in the 19th century. The roads were designed to be long and straight to allow for the large shipping ropes they produced. Today, with its mix of restored Georgian properties and award-winning modern architecture, the district – which includes part of Liverpool’s Maritime Mercantile City, a World Heritage Site, Chinatown and Liverpool’s largest public art instalment – has become one of the most vibrant parts of the city.
With over £100 million of investment, including £1.5 million from a fund created by Liverpool city council, the neighbourhood has shrugged off its past as an assortment of derelict buildings to become a hub for creative, independent shops, galleries, cafes, pubs and bars. This colourful mix appeals to both tourists and residents.
This creative corner of the city has made a name for itself a new UK tech hub, set to rival London’s ‘tech city’. A cluster of digital, creative and technology companies have set up shop in the Baltic Triangle, close to the city centre. Once again, this area represents an old industrial region that has been revitalised by the arrival for more than 400 modern businesses including game developers, digital agencies, app developers and artists. And with this cohort of young, creative professionals have come some of Liverpool’s best bars, restaurants and music venues. The area’s must-experience nightlife combined with the large number of cutting-edge, innovative companies found here help to contribute nearly £900 million to the sub-region’s economy.
This waterfront area situated within Liverpool’s UNESCO World Heritage site was a key part of the city’s port and trading industry back. This notable section of the docklands features the largest collection of Grade I listed buildings in the city. After it was closed in the 1970s, these historic warehouses were left to rack and ruin.
A programme of refurbishment began in the ‘80s and was finally completed in 2003. Since the initial phases were officially reopened in 1984, the Albert Dock has become a home for a plethora of museums, galleries, bars and restaurants, including the Merseyside Maritime Museum, Tate Liverpool and the award-winning Beatles Story attraction, which explores the history of the four Liverpool lads who became one of the world’s biggest pop bands. With its central location and fantastic mix of heritage, entertainment and nightlife, Albert Dock has become a must-visit part of the city.
Iconic Buildings Rejuvenated in Liverpool, UK
Whilst mass investment and construction is turning Liverpool into a thoroughly modern metropolis, much of the city’s important cultural history is still on display via the architecture of some particularly notable properties. Many of these are being brought back to life by developers keen to tap in to Liverpool’s strong sense of heritage.
This iconic Liverpool building has stood proudly in the city’s Vauxhall district since 1912, when it was officially opened by the Countess of Derby. With its mock Tudor, design featuring half-timbered gables and large bay windows, Eldon Grove aimed to be a new kind of social housing. Part of a labourer’s village, the chocolate box look helped local residents feel a sense of pride in their homes and was considered to be one of the best examples of pre-war public housing.
This thoroughly British, homely environment, complete with communal gardens, helped to develop a real sense of community. After decades of neglect, a second life as student accommodation and being granted Grade-II listed status, Eldon Grove is now being brought back to life. A new regeneration is set to restore the building’s original aesthetic whilst modernising the interiors, allowing it to once again become a beloved family home.
Liverpool is a showcase for many styles of architecture, and has some fine examples of neoclassical buildings. But one of the best has to be Reliance House, located in the historic centre of the city. With its Portland stone façade and large sash windows, the aesthetics on display are a perfect specimen of the stunning design found throughout this city. This former commercial building is being transformed into a collection of homes whose statement address is certain to be a big draw for those looking to live with a piece of Liverpool heritage.
Between its flourishing property market, incredible heritage and lively districts, it’s not hard to see why Liverpool has become the dominate hotspot in property investment.
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