One Touch Property investigates how recently approved regeneration schemes in Liverpool are currently affecting property prices
London, UK (PRWEB UK) 10 November 2016 -- Liverpool has been the neglected city in the north west. By 2004 that changed and with new leadership, a developer willing to invest £1 billion into its regeneration, and having been awarded the 2008 Capital of Culture, things looked set to change for Liverpool. Here, One Touch Investment explores the reasons why this is a city to be watched.
Lime Street Regeneration
The £39m scheme involves the creation of a 412-bedroom student block, over 30,000 square feet of commercial space and a 101-bedroom hotel. Older derelict buildings will be demolished and new leisure, commercial and retail buildings will occupy the space. This regeneration project has recently been approved in August 2016.
Liverpool Waters
Liverpool Waters is a £5.5m project that aimed to regenerate Liverpool’s docklands that will extend 2km along the River Mersey, headed by the Peel Group. It is the sister programme of the Wirral Waters project and together they make up the Mersey Waters Enterprise Zone. Both projects enjoy enterprise zone status, which offers attractive incentives to businesses to invest there, including business rates discounts, superfast broadband and flexibility in terms of use of floor space. Not only does the project aim to build a new cruise terminal on 60 acres of derelict dockland, but it also includes the construction of over 9,000 apartments, offices, hotels and bars.
The Anfield Project
The Anfield Project is a redevelopment plan spearheaded by Liverpool City Council, Liverpool Football Club and Your Housing Group. It has been in place since 2013, with the aim to improve the existing strengths of the Anfield area. It includes a range of developments, some of which are already beginning, such as:
- New and refurbished housing
- New street lighting, parks and refurbished alleyways
- The expansion of Liverpool Football Club’s Anfield stadium
- Anfield Square – a new public square that will include commercial and retail space and a new hotel
- New retail premises along the high street, including a new Liverpool FC superstore and café
House prices in Liverpool remain relatively modest standing at an overall average of £145,603 according to Rightmove. Consequently, the rental yields that can be achieved from Liverpool buy to let investments are far higher than those achieved elsewhere. With multiple regeneration and house building projects either in the pipeline or recently completed, Liverpool’s prominence in the north west is gathering momentum and the effect it is having on the housing market is already evident.
Developments within the L1 post code include New Chinatown, one of the UK’s most exciting projects that aims to create a “city within a city”, unique architecture infused with Chinese design and cultural elements. The development will sit between many of Liverpool’s intriguing areas including the eclectic Baltic Triangle, Liverpool’s historic Chinese Quarter and the main retail district.
For those looking for warehouse type properties, Coleman’s Fire Depository Liverpool is being converted into 26 luxury flats. The flats will boast excellent views over the Liverpool skyline, and industrial “warehouse style” interiors.
Sarah Phillips, One Touch Solution Limited, http://www.onetouchinvestment.co.uk, +44 2037094279, [email protected]
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