From property to culture to foreign direct investment, Liverpool is showing other UK cities how it’s done

From property to culture to foreign direct investment, Liverpool is showing other UK cities how it’s done

United Kingdom ,

 

  • Liverpool leading UK cities with house price inflation of 7.5% (Hometrack)
  • Liverpool-Manchester metropolitan area among top 10 global FDI destinations (IBM)
  • Population boom creating long-term, sustainable property investment opportunities (Surrenden Invest)

Liverpool has just hit the headlines for leading the UK’s cities in terms of its house price growth. The Hometrack UK Cities House Price Index reported 7.5% inflation in Liverpool during the year to August 2018. For those working in the Liverpool property sector, the news comes as no surprise.

“Liverpool has exceptionally strong credentials as a property investment destination. It has a booming city centre population, a thriving business community and a superb cultural offering. This combines to produce a high and sustained level of demand for decent, well-located rental homes, which in turn means that property investors can earn healthy yields, as well as enjoying the potential for impressive capital growth.”

Jonathan Stephens, MD, Surrenden Invest

As part of the Liverpool-Manchester metropolitan area, the city was recently flagged up by IBM’s annual Global Location Trends report as being among the top ten cities in the world for foreign direct investment (FDI). The area pulled in the tenth highest number of FDI projects in 2017, according to the report, resulting in the creation of some 7,000 jobs.

Earlier this year, TripAdvisor also highlighted Liverpool as one of the best places in the world to visit. The city’s cultural offering was key to that decision. This year, it is offering a year-long programme of events, exhibitions, seasons and performances to mark the ten-year anniversary of Liverpool being crowned European Capital of Culture. One of the most impressive offerings is the Terracotta Warriors exhibition, which is drawing in visitors from around the UK and beyond.

“Liverpool is one of those rare cities that has it all. It’s a delightful blend of economic opportunities, cultural pursuits, a superb gastronomic scene, a lively sporting offering and a thriving property market. The city also enjoys property prices that are well below the average for the UK, which is another reason that it is such an exciting prospect for property investors.”

Jonathan Stephens, MD, Surrenden Invest

According to Hometrack, Liverpool’s average property price stood at £120,100 as at August 2018, against a UK average of £217,300. For those buying a main residence, that means 0% stamp duty. For those buying a second home (including investment properties) it means the lowest stamp duty rate, of 3%.

Factor in a 10-15% discount for off plan properties, and Liverpool really does have some exceptional investment deals available. Apartments at The Tannery, for example, are available for as little as £85,000, with anticipated yields of 6% net. Despite the low entry price, the homes have been designed to offer outstanding quality, synonymous with the world’s greatest capital cities – those with which Liverpool has been rubbing shoulders on the IBM Global Location Trends report. Bright contemporary interiors are complemented by on-site facilities including a 24/7 concierge, secure underground parking, a spacious communal courtyard and a roof garden, all in the sought-after L3 postcode area.

“This is definitely an exciting phase in Liverpool’s history. The city is one of the most investable destinations not just in the UK, but in the world. The resulting boom in population is generating a long-term, positive impact on the property market. I wouldn’t be surprised to see Liverpool leading the UK again in terms of its property price increases over the coming months.”

Jonathan Stephens, MD, Surrenden Invest

 

For more information, visit www.surrendeninvest.com or call 0203 3726 499

6 months to go until Brexit and investor sentiment remains bold

6 months to go until Brexit and investor sentiment remains bold

United Kingdom ,
  • Overseas investment in UK property remains strong (Surrenden Invest)
  • Investors ready to take advantage of sterling’s fluctuations
  • World-class developments like Ancoats Gardens attracting keen interest

29 September marks just six months to go until the UK leaves the EU. The country’s journey since the referendum has been turbulent and at times bitter. However, overseas investors remain confident in the long-term viability of the UK’s property market, according to specialist property investment agency Surrenden Invest.

“We’re still seeing strong investor sentiment so far as residential property is concerned. Overseas investors continue to benefit from the pressure that the Brexit process has placed on sterling, with no sign of interest in high quality properties dropping as we approach the 29 March 2019 deadline.” 

Jonathan Stephens, MD, Surrenden Invest

Despite recent gloomy predictions from the Bank of England’s Mark Carney about the future of the UK property market, investors’ confidence has not been rocked. After all, they heard similar predictions immediately following the referendum. Instead, according to the experts at Surrenden Invest, investors have simply become more particular about the products they choose.

“There’s definitely been a drop off of interest in sub-standard developments, as foreign buyers focus on selecting the best products. Agencies with strict quality standards, like Surrenden Invest, are therefore seeing little change as the Brexit deadline approaches. The best developments continue to attract keen interest.”

Jonathan Stephens, MD, Surrenden Invest

Ancoats Gardens in Manchester is a prime example. The 155 apartments are well-located, beautifully designed and offer a host of on-site facilities that will command tenants’ attention. With huge windows and ceilings up to 0.5 meters higher than the average city centre rental apartment, the light-filled homes, with their huge roof garden, coffee lounge and multi-level, 1,715 square foot gym offer world-class living standards. Launched in early September, the development has already attracted foreign investors looking to pick up multiple apartments.

The exchange rate has played an important role in this. The pound remains cheap relative to its pre-referendum value. Despite its stability over the past year, it remains around 10% undervalued on certain markets, such as versus the dollar and Middle Eastern currencies. And investors are ready to take advantage of any further dips.

“We expect to see a lot of foreign investors timing their property purchases very carefully in the run-up to March and in the weeks and months following. While nobody can know for certain what will happen to sterling as a result of the UK leaving the EU, it’s fair to expect a certain amount of volatility so far as the value of the pound is concerned. For those overseas, that could mean some exceptional bargains, if their timing is right. As a result, we expect to see interest in high quality UK residential properties continue well past 29 March next year.”

Jonathan Stephens, MD, Surrenden Invest

 

For more information, visit www.surrendeninvest.com or call 0203 3726 499

Brexit debacle does nothing to stem flow of foreign investment into UK, with regional cities emerging on top

Brexit debacle does nothing to stem flow of foreign investment into UK, with regional cities emerging on top

United Kingdom World ,
  • Manchester-Liverpool metropolitan area among top 10 global cities for foreign direct investment (IBM)
  • West Midlands is only UK region to see both FDI projects and jobs created increase (Department for International Trade)
  • Pace of FDI shows confidence in UK’s resilience and importance of regional cities (Surrenden Invest)

As we inch ever closer to a no deal Brexit, it’s easy to imagine the rest of Europe enjoying a quiet laugh at the UK’s expense. However, investors around the world are standing up to be counted and showing that they are interested in the UK for the long term, irrespective of Brexit.

Two studies have recently highlighted the importance of the UK to the global investment community – specifically, the importance of the UK’s regional cities. IBM’s 2017 Global Location Trends report looked at the world’s top cities for foreign direct investment (FDI). The annual report compares metropolitan areas based on equal labour catchment areas, for a truer comparison. Using that methodology, the Manchester-Liverpool metropolitan area ranked tenth in the world for FDI, placing it in the league of cities such as London, Paris, Singapore, Amsterdam and Dubai. It beat the likes of Barcelona, Toronto and Dublin to make it to the tenth spot.

According to IBM, Manchester and Liverpool jointly pulled in the tenth highest number of FDI projects of any global city in 2017. In doing so, they created some 7,000 jobs.

“It’s brilliant to see Manchester and Liverpool rubbing shoulders with the world’s top cities. Both have undergone extensive regeneration over the past couple of decades, positioning themselves to compete globally at this level. Manchester has established itself as the UK’s creative and media hub, while Liverpool’s health and life science sectors, and digital manufacturing industry, are truly world-class.”

Jonathan Stephens, MD, Surrenden Invest

Foreign direct investment has not been limited to these sectors. Far from it. Both cities have enjoyed keen interest in their property sectors too, as the UK’s need for far more rental homes than it currently has available, has attracted overseas investors in their droves. Prime developments such as Manchester’s Ancoats Gardens, with its outstanding roof garden, vast 1,715 square foot gym and on-site coffee lounge, or the 139 high-spec homes at The Tannery in Liverpool, which are available from as little as £85,000, provide precisely the easy route into the UK property market that many foreign investors are seeking.

Further research by Foundation Home Loans has contributed to the sense of long-term security that investment in sectors such as buy-to-let in the UK brings with it. The company found that 18% of landlords plan to remain active in the sector indefinitely, versus just 6% who are considering exiting the buy-to-let market in the next year or two.

“What several of the latest research pieces are showing is that investors are looking to keep their money in the UK over the longer term, despite the continued blustering that we read daily about the Brexit debacle. Behind the scenes, investors are letting their funds speak for themselves.”

Jonathan Stephens, MD, Surrenden Invest

The second piece of research to flag up the importance of one of the UK’s regional markets is from the Department for International Trade. The study found that the West Midlands was the only region in the UK to experience a rise in both FDI projects and the number of jobs recorded compared with a year previously. These increased by 13% and 43% respectively.

At the core of the West Midlands, Birmingham is another regional city that is firmly on international (as well as domestic) investors’ maps. Again, the city’s property market in particular is charming investors from around the globe. Developments such as Westminster Works, in the city’s investment hotspot of Digbeth, offer a global standard of urban living that appeals to investors and tenants in equal measure.

“FDI in the UK is here to stay. The property market in particular has a compelling case for its long term viability. The UK can’t build houses fast enough to house its expanding population and is over a decade behind where it needs to be in terms of the number of homes. Coupled with a rise in the appeal of city centre living, this has created an excellent environment for investors from overseas who are looking to commit their funds to exciting regional cities.”

Jonathan Stephens, MD, Surrenden Invest

 

For more information, visit www.surrendeninvest.com or call 0203 3726 499

Newcastle’s tallest ever crane heralds new era for city’s property market

Newcastle’s tallest ever crane heralds new era for city’s property market

United Kingdom ,

 

  • 110m loughing crane believed to be largest ever used in Newcastle (High Street Residential)
  • Development will be visible from most approaches into the city
  • Hadrian’s Tower to be Newcastle’s tallest building (Surrenden Invest)

The installation of a 110m tall loughing crane over the August bank holiday weekend will mark a new era for Newcastle’s residential accommodation, according to leading property investment agency Surrenden Invest. The crane is being installed to enable the next phase in the erection of Hadrian’s Tower, a residential development that will become the city’s tallest building.

At 27-storeys tall, Hadrian’s Tower will be an exciting new addition to the Newcastle skyline. The apartment block is set to usher in a new style of chic, urban homes, with residents benefitting from a range of on-site amenities. These will include a 24/7 hotel-style concierge service, a café and touchdown meeting points. The crowning glory will be the stunning sky lounge, which will offer unsurpassed views across Newcastle.

“Hadrian’s Tower is an incredibly exciting development to bring to Newcastle, as it will mark the start of a new phase for the city’s property market. We’re seeking to raise expectations with accommodation of this standard and to inspire the future of residential accommodation in the city as a result. Using the tallest crane that the city has ever seen plays a big role in that, not just from the physical build perspective but also from the psychological point of marking the start of a new era.”

Jonathan Stephens, MD, Surrenden Invest

With an eight-tonne load capacity, the 110 metre loughing crane, which has a reach of 127 metres, will be used to lift everything from concrete slabs to plasterboard to cladding materials.

“This is a complex operation, due to the size of the crane. Even the mobile crane that is used to install it is enormous. Depending on the weather, we’ll be looking to have the Hadrian’s Tower crane in place by the end of Sunday 26 August. It will then remain on site for a year and the development will be visible from most entry points into the city during that time.

“We believe this will be the tallest crane that has ever been used in Newcastle. The angle of the loughing jib means that the whole structure will have a reach of 127 metres. I can’t see any reason why any of the city’s current buildings would have required a crane of this scale.”

Keith McDougall, Operations Director, High Street Residential Ltd

The crane’s installation marks an exciting stage in the building’s progression and is expected to generate considerable local interest. According to Surrenden Invest, it also signifies the city’s arrival on the global investment map.

“There’s no doubt that Newcastle has ‘arrived’ in terms of its investment credentials. We’re talking to a lot of investors who are keen to be part of the city’s future. There’s already plenty of regeneration work underway in Newcastle and some really exciting schemes, but nothing of this height. That’s why we’re so excited to be part of this step-change for the city’s property market.”

Jonathan Stephens, MD, Surrenden Invest

 

For more information, visit www.surrendeninvest.com or call 0203 3726 499

Why is it that prime property buyers just can’t get enough of Birmingham?

Why is it that prime property buyers just can’t get enough of Birmingham?

United Kingdom ,
  • Prime Birmingham residential values to hit £500 PSF by 2020 (Knight Frank)
  • West Midlands property prices rising at fastest rate in UK (Halifax)
  • Birmingham’s innovation and dynamism, along with HS2, capture attention of overseas investors (Surrenden Invest)

It wasn’t too long ago that those with a passion for property almost took pride in never looking further than the prime London property market. Now, however, it is Birmingham that has captured investors’ imaginations – and for more than purely financial reasons.

“Property investment is fundamentally about making money, but as the buy-to-let market has matured, we’ve seen a shift in investors’ outlook. There’s something compelling about owning a property in Birmingham and investors are keen to be part of the action. It’s a city with a real buzz about it, so while London stagnates, investors are seeking to be a part of the action in Birmingham.”

Jonathan Stephens, MD, Surrenden Invest

The UK’s second city certainly has the right credentials in terms of its numbers. The West Midlands housing market saw annual house price growth of 7% during Q2 2018, according to Halifax, meaning that prices there are rising significantly faster than anywhere else in the UK (the next highest house price increases were in Wales and Scotland, which both recorded growth of 3.7%). Within Birmingham itself, the pace of increase appears to be even faster, with Hometrack’s UK Cities House Price Index reporting a rise of 2.9% in the past year alone.

But price rises are only half of the story when it comes to Birmingham. The city also provides exceptional value in terms of its asking prices. The average Birmingham property costs just £161,100. That’s cheaper than the average for Manchester, Leicester, Leeds and a wide range of other regional cities. It’s also well below the UK average of £218,600, according to Hometrack’s figures.

The story so far as prime city centre property is concerned is even more compelling. In London, prime sales volumes have plummeted by 16.9% over the past year, according to the Q2 2018 Coutts London Prime Property Index, while prices have fallen by 1.7%. This is in stark contrast to Birmingham, where Knight Frank has projected that prime residential values will continue rising, hitting £500 per square foot by 2020.

“The numbers stack up so well in Birmingham that it’s easy to see why the city’s prime residential market has captured such attention both within the UK and overseas. A range of other factors come into play too. Birmingham is known for its striking, modern architecture and has an outstanding reputation as a shopping and leisure destination. Cultural pursuits and economic opportunities abound and the city has become a magnet for big businesses looking to relocate away from the expense and congestion of London.”

Jonathan Stephens, MD, Surrenden Invest

HSBC, Barclays, Deutsche Bank and HMRC are among those to have been drawn to Birmingham in recent years. Now, the city is also among the top three options for the location of Channel 4’s new headquarters. And still property prices remain well below the UK average.

HS2 has played an important role in elevating Birmingham in the eyes of investors in recent years. The high speed network has pushed forward a number of regeneration schemes within the city, with enhanced connectivity to London and Europe seen as a key driver for Birmingham’s rising reputation overseas. Regeneration work is widespread, with areas such as Digbeth and Smithfield benefitting particularly.

“One of the most notable things we’re seeing about the investment that is pouring into Birmingham is the focus on city centre living. Residences in the vicinity of iconic buildings, such as the Bullring or the Mailbox, are commanding attention from investors looking for premium properties in top locations.”

Jonathan Stephens, MD, Surrenden Invest

Interest in the city is so strong that leading property investment agency Surrenden Invest has been taken aback at the speed with which homes at its Westminster Works development are selling. Priced from £165,000, the properties provide investors with a 5% NET yield and plenty of scope for capital growth. The Surrenden Invest team is now poised to unveil a further Birmingham development, in close proximity to the Mailbox, although further details of this are currently being kept under wraps. One thing is for certain though – in this dynamic and fast-paced city, the next innovation is just around the corner.

 

For more information, visit www.surrendeninvest.com or call 0203 3726 499

Regional property markets race to catch the capital

Regional property markets race to catch the capital

United Kingdom ,
  • Property price gap between London and other cities to narrow over next 1-2 years (Hometrack)
  • Tax changes driving shift in regular market cycles (Surrenden Invest)
  • Edinburgh, Manchester and Birmingham enjoying annual price rises of 6.5% and above

 

The latest Hometrack UK Cities House Price Index projects a narrowing of the property price gap between London and the UK’s other cities over the next year or two. For investors, the choice is clear – regional cities are the place to be if they wish to profit from property. But are we at risk of completing the same cycle as we saw just over a decade ago, or has the market learned from its previous mistakes?

“While many factors mirror the housing market’s performance back in the early 2000s, there are some substantial differences that look set to bring about different outcomes from this state in the cycle. Tax changes are playing a key role in this, as are the rising quality and security standards of regional city developments.”

Jonathan Stephens, MD, Surrenden Invest

At present, house price inflation stands at 4.3% for the UK as a whole over the past year. For London, the figure drops to just 0.4% over the same period. Edinburgh has seen the highest increase in values, at 7.1% over the year to April 2018, closely followed by Manchester, at 7.0%.  Birmingham also fared far better than average, at 6.5%, as did Liverpool, at 5.9%.

The regional success stories stand in stark contrast to the price falls seen in 20 of London’s 33 local authorities. Developments such as Westminster Works in Birmingham are thus offering investors far more potential for capital growth, as well as healthy yields. Ideally positioned to benefit from the HS2 Curzon Street station scheme, as well as the redevelopment taking place as part of the Smithfield masterplan, the premium apartments are raising the bar for rental accommodation in Birmingham. The luxurious apartments come with a range of top facilities, including a concierge service, secure on-site parking and smart home, eco-friendly technology in every home.

The same trend of the regions racing to catch up with London’s prices occurred between 2002 and 2005, when London saw weak growth after a period of strong performance from 1996 to 2000. Regional markets had lagged behind, but began reporting strong performance from 2001 onwards, thus narrowing the price gap.

However, leading property investment agency Surrenden Invest is quick to point out that the current market has a number of significant differences to that of the early to mid 2000s. While the cycle appears similar, secondary cities may actually stand a more realistic chance of catching up to London’s prices than they did previously.

“People have been saying that London is too expensive since before Black Monday in 1987, yet over the last 30 years property prices there have grown enormously. Still, there comes a point when a market becomes too expensive to bounce back quickly, even when there are chronic underlying supply issues, as is the case with London. The city remains one of the world’s most significant and sophisticated property markets, but that doesn’t mean that it can’t suffer a sharp, swift price correction – or that it could quickly recover from such an occurrence.”

Jonathan Stephens, MD, Surrenden Invest

In previous property market cycles, the regions have narrowed the price gap between their cities and London, only for London’s prices to race ahead once more. This time, though, the quality, security and corporate governance of nationwide developers are far stronger than they were even ten years ago. Previously a concern for risk-averse buyers, these strong credentials – and the attractive yields on offer – mean that regional cities stand a good chance of catching up to London’s prices outside of the standard cycles that we’ve seen over the past 20 years.

Another contributing factor is the new Stamp Duty regime. Many of London’s properties are located in prime and super prime locations, costing upwards of £1 million. The sale of those properties has been significantly hampered by the higher tax rates, as well as the additional 3% charge on second homes. With regional properties available for significantly less money, the tax burden is reduced sufficiently to make regional property purchases more attractive than London ones in the eyes of many investors.

“Are we likely to see the regions catch up relative to London in terms of their property prices? Probably not, as London remains a uniquely appealing market. However, what we are likely to see is a sustained and significant narrowing of the price gap, as regional cities hold fast in the wake of London’s price correction.”

 Jonathan Stephens, MD, Surrenden Invest

 

For more information, visit www.surrendeninvest.com or call 0203 3726 499

Apartment prices rising faster than any other property type, new data reveals

Apartment prices rising faster than any other property type, new data reveals

United Kingdom ,
  • Average UK apartment price up by £1,251 per month over last 5 years (Halifax)
  • Regional cities such as Liverpool and Newcastle currently exciting investors (Surrenden Invest)
  • Strength of labour market continues to support house prices (Halifax)

Newly released data from Halifax has shown that the average UK apartment has increased in value by £1,251 per month over the past five years, rising by £75,074 over the period.

Although apartments make up just 15% of all home sales, their relevance to urban labour markets is increasingly important. This is borne out by the Halifax data, which shows an increase of 48% in apartment values between 2013 and 2018, compared with an increase of just 42% for terraced houses and 27% for detached homes.

“The sustained level of demand for apartments in regional city centres has shown solid credentials, even in the wake of the Brexit referendum. With dynamic local economies and solid labour markets, regional cities are an enticing prospect for those looking to make capital gains, whether as owner-occupiers or investors. In fact, the majority of investors we work with now come to us with a regional city firmly in mind – London has lost its shine as a residential investment prospect as the UK’s other cities are producing better returns.”

Jonathan Stephens, MD, Surrenden Invest

Liverpool is one city that has benefitted from this new breed of regionally focused property investors. Developments such as The Tannery, which offers bright, contemporary residences with beautifully presented interiors, are drawing in both domestic and international investors. Hadrian’s Tower, in Newcastle, is another such example. Its blend of exceptional apartments and innovative social spaces is precisely what investors are looking for.

Halifax’s latest House Price Index shows a monthly rise in home values of 1.5% during May, following a brief wobble in April. The lender flags up the labour market’s performance, along with low interest rates, as two of the reasons behind this.

“The continuing strength of the labour market is supporting house prices. In the three months to March the number of full-time employees increased by 202,000, the biggest rise in three years. We are also seeing pay growth edging up and consumer price inflation falling, and as a result the squeeze on real earnings has started to ease. With interest rates still very low we see mortgage affordability at very manageable levels providing a further underpinning to prices.”

Russell Galley, Managing Director, Halifax

With the UK population expected to pass 70 million by mid-2029, and urbanisation increasing steadily (from 80.2% in 2006 to 82.84% in 2016, according to Statista), demand for city centre apartments looks likely to remain strong over the years ahead. And with apartment prices increasing at a faster rate than any other kind of accommodation, they are sure to remain the property of choice for investors looking to make the most of their money.

 

For more information, visit www.surrendeninvest.com or call 0203 3726 499

Westminster Works – Latest housing jewel in Digbeth’s crown

Westminster Works – Latest housing jewel in Digbeth’s crown

United Kingdom ,
  • Westminster Works to provide 220 elegant apartments in strategic Digbeth location
  • Digbeth continuing to build reputation as the place to live, eat and work in Birmingham
  • Extensive regeneration plans to ensure that Birmingham benefits fully from HS2

 

Whichever way you look at it, Digbeth is the place to be in Birmingham.

Not a week goes by when there isn’t a rumour circulating as to the latest hip venue that’s about to pop up. The last month alone has brought the news that a vast new live music venue – The Mill – is to open in the heart of Digbeth, complete with mezzanine level and rooftop garden. Also planned is a giant late-night food and drink market, featuring three bars, four kitchens and regular DJ slots. Meanwhile, Digbeth Dining Club has gained such a reputation for its gourmet credentials that its touring neighbouring cities!

There’s also much more to Digbeth than leisure pursuits, exciting though the area’s cultural credentials may be. The £5 million STEAMhouse project has just launched to provide a co-working space that brings together businesses, artists and academics. Fostering economic growth and innovation are top of the agenda for the Digbeth High Street-based initiative.

 

“Digbeth has an incredible energy and sense of purpose about it. If you stand behind the Bullring and look out over the area, the potential is evident. Everywhere you look there are new projects being developed, from entertainment venues and cultural hubs to business premises and superb new residential buildings.”

Jonathan Stephens, MD, Surrenden Invest

 

One of the most exciting residential projects in Digbeth is the newly launched Westminster Works. Home to 220 elegant, loft-style apartments, complete with rooftop terrace, concierge service, secure on-site parking and smart home, eco-friendly technology in every home, the development plans to take Birmingham city living to the next level.

Bespoke David Phillips furniture packs complement the warehouse-inspired design of the building’s exterior, ensuring that Westminster Works has a contemporary, luxurious feel all of its own, while high end fixtures and fittings reinforce the superior standard of the accommodation.

Those investing in apartments such as the homes at Westminster Works, which are available from £168,000 through leading property investment agency Surrenden Invest, are also set to benefit from the extensive regeneration work that is transforming several areas of Birmingham city centre. The master-planned regeneration includes the multi-billion pound residential and retail Smithfield area, a £770 million redevelopment of New Street Station and the integration of Curzon Street Station in Digbeth into the city centre, to ensure that the whole of Birmingham reaps the benefits of the HS2 high speed rail network.

With so much on offer in a world-class urban setting, it’s no wonder that investments such as Westminster Works are so popular with investors from the UK and overseas alike.

 

For more information, visit www.surrendeninvest.com or call 0203 3726 499

Liverpool, European Capital of Culture: 2008 – 2018

Liverpool, European Capital of Culture: 2008 – 2018

United Kingdom

On 4th June 2003, Liverpool was announced as the European Capital of Culture for 2008.  The award represented an opportunity for urban regeneration, as well as a revival of the cultural, social and economic image of the city.

Liverpool saw enormous advantages from the win. Research programme, Impact 08, found that the city had seen 9.7 million visitors during its festival year of 2008, – an increase of a third – generating an extra £753.8m for the economy and the city’s transformation in the lead-up to the award year gave Liverpool a huge boost as regeneration led to a surge of people wanting to live in the city.

Having just chosen Liverpool as the location for its first non-London office, specialist end-to-end property investment company Surrenden Invest’s Sales Director and Liverpool resident, Joanne McCormack reflects on the impact of the flow of new residents:

“Hosting European Capital of Culture resulted in Liverpool’s population increasing from 435,500 in 2001 to nearer 600,000. Over the same period, 22 to 29-year-olds in the city centre increased fourfold, while the overall city centre population increase stood at 160%.
This new trend for living in the city centre has been increasing ever since and has led to a huge rise in demand for rental properties meaning developers are racing to keep up with regeneration and the supply of new homes.”
 

Some of the developments that have already changed the face of the city include the Ten Streets regeneration project, the new Liverpool One shopping centre, regeneration of the Albert Docks and Lime Street, and the Liverpool Waters and Anfield projects, all of which have created huge boosts to the local area.  Future town plans include expansion of the port of Liverpool for cruise liners, a potential new football stadium located in the docks and an all-new University hospital.

Research from academics at Liverpool University found that 85% of the city’s residents agreed that Liverpool is a better place to live in than before.  The city is now packed with attractions and during 2018 a year-long programme of culture, music and sporting events will mark the anniversary since the city hosted European Capital of Culture.

Ten years on from the win, Liverpool is now regularly noted as one of the world’s top places to visit and is a notable property investment hotspot in the UK.  The city has enjoyed sustained property price rises, with data from Zoopla showing an increase in home values of 5.52% over the past year and of 28.35% over the past five years.

Property investment experts Surrenden Invest which has just opened an office in the heart of the city, predicts that Liverpool will continue to go from strength to strength offering low price points and strong growth potential, making it an ideal option for investors.

“The city has a thriving, service-based economy, which was worth £29.5 billion in 2015 and is leading the UK’s Northern Powerhouse region in terms of its overall GVA growth and its growth of GVA per capita. A growing population, backed by strong economic credentials and a buoyant housing market make Liverpool an ideal environment for opportunity pushing it up on the list of UK cities to watch.”

Jonathan Stephens, Founder & MD, Surrenden Invest

One opportunity attracting a great deal of investor attention enjoys a prime position in Liverpool’s L3 postcode area to the north of the city centre.  The Tannery, exclusively available through Surrenden Invest, is just 1.1 miles from the 125-acre Ten Streets regeneration project, which is set to create some 2,500 jobs, as well as being close to the £150m Jennifer Project regeneration scheme with its flagship new Sainsbury’s superstore and extensive retail offering.  There are also plans for a new police headquarters to be built on nearby Scotland Road, bringing an additional 850 workers to the area 10 minutes walking distance from The Tannery.

This historic, once industrial part of town is rapidly becoming one of the most desirable and trendy investment locations in Liverpool, with The Tannery standing out as an iconic building on one of the most covetable roads in the city.

The building’s design draws from the site’s history as a tannery. Folded aluminium panels resemble the hanged leather that the site’s original building once housed, while horizontal breaks in the façade represent the leather press.

Facilities such as 24hr concierge, on-site gym, laundry facilities, a private gated courtyard, and underground secure parking are just some of the comforts which come as standard. Impressive views over the city centre complement modern interiors, designed to offer both comfort and contemporary appeal to urban residents.

Prices at The Tannery start from £85,000 with net rental yields estimated at 6.0%.

Surrenden Invest
London office: 0203 3726 499
Liverpool office: 0151 3477 459
www.surrendeninvest.com

Manchester Middlewood Locks welcomes new residents

Manchester Middlewood Locks welcomes new residents

United Kingdom
  • Manchester flagged as one of UKs best places to live with houses prices up by 4.3%
  • Salford’s Middlewood Locks regeneration area connects growing population with new homes and city centre living
  • Surrenden Invest launch superb new development Middlewood Plaza

Things are going well for the city of Manchester, in North West England. The Sunday Times flagged Manchester up as being one of the best places to live in the UK, citing its funky atmosphere, green space and excellent schools as offering the complete package.

Manchester’s strong talent pool (fed by its top tier universities), workforce catchment area, employer costs, employee quality of life and economic output all consistently contribute to it getting ranked high for working, living and visiting alike.

Your Move’s latest house price data shows a rise in house prices in the North West of England, despite falls in many other areas of the country. While house prices in London fell by 2.6% in the year to January 2018, they rose by 4.3% in Manchester.

For those considering a property purchase around Manchester, Salford should be at the top of their list of locations to consider.  Offering swish new places to live and work, Salford is undergoing a renaissance and a population boom.

After decades of being Manchester’s poor relative, Salford is on the up with a bold ambition to become a modern urban hub with a string of developments planned west of the Irwell covering the likes of Salford Quays, Greengate & Port Salford.

Salford’s most exciting regeneration zone is Middlewood, conveniently situated between Manchester city centre and central Salford.  The area is undergoing rapid transformation with 5000 homes, new commercial premises and the amenity zone of Middlewood Locks, which is being built around existing retail parks and set to become Salford’s most desirable residential location thanks to its routes in and out of the centre.  The £1 billion regeneration project encompasses a gym, hotel, bars, restaurants, nursery and medical centre, as well as residential accommodation.

April sees the launch of a superb new residential development in this area; – Middlewood Plaza. Exclusively available through Surrenden Invest, the new development is just ten minutes’ walk from Manchester city centre, providing residents with access to the amenities of both Manchester and Salford. Featuring impressive, split-height blocks of six and nine storeys, the development is home to 125 beautifully designed homes, complemented by an extensive roof terrace with views over the city.

Designed to meet the diverse housing needs of Manchester’s urban professionals, Middlewood Plaza offers a mix of apartments, townhouses and duplexes. Secure underground parking and cycle bays are available for residents’ use. In addition, the properties feature smart technology, including whole-house ventilation and sprinkler system protection. The homes are also all fully wheelchair accessible.

For investors, Middlewood Plaza presents an opportunity to be part of one of Manchester’s most exciting regeneration areas, packed with potential for capital growth.

Homes can be purchased with the optional convenience of tailored furniture packs and interior design solutions, courtesy of established furnishings specialist, David Phillips.

A mixture of 1, 2 & 3-bedroom apartments, townhouses and penthouses are available.

Prices start from £153,500 – £393,500 with projected net yields of 5% net.

For further information contact www.surrendeninvest.com email info@surrendeninvest.com or call 0203 3726 499.