Top regeneration areas for property investment
Picking the perfect location for property investment requires research. One tip is to keep an eye out for places that are undergoing, or are about to undergo, significant regeneration.
Regeneration indicates that the potential of a location has been recognised and investment has followed. As a result of this investment, this area is going to see a boost to its economy with new jobs, new professionals and new residents looking for homes.
Let’s take a look at some of the current regeneration areas in the UK that could be ripe for property investment.
Already a well-connected commuter town, the headquarters of many high-profile businesses can be found in Slough. These include Ferrari, O2 and Unilever.
As for regeneration, the Heart of Slough programme aims to generate 5,000 new jobs by 2022 with a substantial investment of £450 million. The plan is to improve local infrastructure and amenities and develop office, residential and retail space.
Recently, investors have turned away from London and looked towards Manchester as an alternative city investment.
The city has enjoyed considerable regeneration over the last decade with investments from global businesses such as HSBC, RBS and Barclaycard. This boost to its economy has made Manchester a more attractive place to live for young professionals.
Liverpool is in the midst of a number of regeneration schemes such as Liverpool One, which has brought 160 high street stores, fashion brands, cafés and restaurants to the city centre.
With the regeneration of the Albert Docks area, Lime Street, Liverpool Waters and the Anfield Project, the city currently has plenty to offer property investors.
With investment in new homes and improved transport links, Milton Keynes is ideal for professionals – thanks to its position between cities such as Birmingham, Oxford, London, Cambridge and Leicester.
With house prices that are still much cheaper than Cambridge and Oxford, it could be the place to snap up a bargain.
Following the regeneration of New Street Station and the addition of Grand Central, there’s more development on the horizon with Paradise Circus, Arena Central and Birmingham Smithfield.
The Birmingham Smithfield Regeneration is a £500 million plan to develop over 100,000 square metres of floor space, generating 1,000 new homes and 3,000 new jobs. Big businesses such as Deutsche Bank can now be found in the city making this an attractive proposition for professionals.
The redevelopment of Luton town centre has brought more businesses to the area.
A key commuter town for London, Luton has become popular with young professionals thanks to its wealth of restaurants, bars, cafes and clubs.
With ongoing regeneration projects and continued investment into London Luton Airport, the town was named as one of the best places for buy-to-let investment in the UK.
The Dundee Waterfront project is creating new jobs and attracting new business to the city. And there are still plenty of opportunities for developers, investors and companies to join the project.
The scheme includes hotels, residential apartments, office space and ground-floor commercial premises. It’s being promoted by Dundee City Council with a timescale of 2018 to 2025.
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