A two hour journey by rail from London makes Liverpool an easy destination to enjoy its history, shopping and waterfront. So it should not be a surprise that the city has become popular for new business start-ups, mixed-use property investment and tourism.
As cities like London become more congested and expensive Liverpool is now becoming an attractive alternative for business and residential living.
Since the 1200’s Liverpool has forged its place in British history and a new era of growth and prosperity is once again underway.
As a result of the expansion Liverpool has become a great location for investors for a variety of market sectors. Like other parts of Britain one of the main concerns is the availability for housing and student accommodations for local universities.
As Housesimple reports on the residential property sector:
‘There is plenty to look forward to in Liverpool’s Future.’
‘With an estimated £14 billion of exciting new developments in the pipeline, the city is set to draw increasing attention from buyers locally, nationally and even further afield.’
For the residential rental market Propertywire reported this January:
‘Liverpool and Nottingham are the UK’s best performing investment locations for landlords with average net rental yields of 6.2%, the latest research shows.’
For 2018 the outlook for the Liverpool residential market is expected to remain active.
Online publication YMLiverpool asked experts their expectations for the local housing sector.
Debra Beach, Branch Manager for Keppie Massie Residential:
‘Moreover, interest rates remain low and there is more choice than ever from mortgage lenders, while overseas buyers should continue to be attracted by the weak pound.’
Tracey Quirk – partner and head of residential property, MSB Solicitors:
‘Whilst the current political climate has caused some uncertainty, I think the property market will continue to be buoyant in 2018.’
For high net worth investors Liverpool has become popular for luxury residential property with new luxury units under construction.
Select Portfolio reports:
’Over the past two decades the city has seen numerous multi-million pound regeneration projects; significantly contributing to Liverpool’s massive economic expansion.’
The issue of student accommodation investment becomes more prominent especially with increased student enrollment at Liverpool’s universities and future Knowledge Quarter.
The Knowledge Quarter (KQ) in the Liverpool City Centre will bring a variety of new elements to the local market from education to commercial ventures mainly for the life sciences and healthcare sectors. With a projected of potential development value of over £1 billion the Liverpool City Council report is ‘Seeking development partners for several major opportunities.’
In its review the developers for KQ state:
‘KQ Liverpool sets out to create and promote the dynamic and innovative industries operating within the Knowledge Quarter. The recent Science and Innovation Audit (SIA) highlighted Liverpool City Region’s three world-class strengths; infection, materials chemistry and high performance & cognitive computing. KQ Liverpool is home to some of the world’s most influential players in science, health, technology, culture and education, with over £1bn of new developments already underway.’
‘Key to these plans will be the Paddington Village expansion site, set to attract a further £1bn to the city, which will house 1.8m sq ft of science, technology, education and health space. In the centre of Paddington Village there will be a cluster of major facilities, including RCP North, Rutherford Cancer Centre and Liverpool International College.’
One of the most prominent large-scale developments is Liverpool Waters which is expected to be one of the largest single-ownership port-city developments in Europe.
The massive 60 hectare £5 billion project will extend almost 2km on the River Mersey with 18.3 million square feet of commercial and residential space. Plans for the development were approved in 2012.
The project offers a variety of opportunities for developers, investors, land purchasers and occupiers across an eclectic mix of sectors including residential, offices, hotel, retail & leisure and signature buildings.
It is expected that five new waterfront residential areas with 9,000 apartment units will be available.
The developer the Peel Group describes the setting:
‘Residents will be able to enjoy world-class leisure facilities in an iconic waterfront setting with restaurants, cafes and bars sitting side by side with a new cultural hub and retail spaces.’
The Anfield regeneration is not only the home of the Liverpool Football Club but provides a new high street with brand name shops, commercial outlets, 1000 new homes and apartments. The £260 million scheme is a partnership between Liverpool City Council, Liverpool Football Club and Your Housing Group. Also planned is a new £10 million training hotel with construction having started in the summer of 2017.
Recently approved by local planners is the next stage of development of the area around Liverpool Football Club that will bring 86 new homes consisting of plans of two, three and four bedroom units.
With its history Liverpool has become good holiday getaway location especially for families. There are an ample amount of great hotels, shopping and places to dine for all matter of tastes.
Liverpool has now become increasingly popular with the cruise ship industry and as a result a new cruise terminal is being constructed.
The new cruise terminal will be located on the Mersey at Princes Jetty with the new passenger facility just 300 metres north of the current terminal and capable of handling turnaround cruises carrying up to 3,600 passengers. In 2016 Liverpool had 60 vessels with 120,000 passengers and staff visit the city. A new two storey building will be constructed on reclaimed land for the drop off and pick up of passengers.
Last year Mayor of Liverpool Joe Anderson said:
“Liverpool’s cruise industry has blossomed over the past decade helping to transform the tourism appeal of Liverpool and give the Mersey a new lease of life.
“It has been one of the city’s great success stories but we’re now at the stage where we need to relocate if we are to welcome the next generation of super liners.”
The developers say:
‘This year Liverpool will welcome more than 57 vessels, with 100,000 passengers and crew, but the council wants to capitalise on the cruise boom by creating a state of the art passenger and baggage facility, complete with passport control, lounge, café, toilets, taxi rank and vehicle pick up point, to cater for Liverpool’s growing appeal in the cruise industry. The current terminal generates more than £7m a year to the city’s economy.’
The location of the cruise terminal near the main shopping areas such as Liverpool One make the terminals location great for cruise visitors and retail businesses.
Another recently announced business project by Regenerating Liverpool is a new Hollywood-style film studio located at the iconic Littlewood's building will be teaming with Twickenham studio for expansion in Liverpool.
These are just a sample of the commercial and residential projects as more developments continue to be planned.
The future for Liverpool is only going to get brighter as the city has so much to offer to business, residents and those on holiday. For investors the appeal of Liverpool is not surprising as its population of 7.2 million potential commuters has the fastest growing productivity of any city outside of London. Another benefit for the future is Liverpool’s transport links with its international airport and rail services from the Lime Street station.