NOMA, is one of the most significant regeneration projects starting in 2010 and ongoing. The project has already cost a staggering £800 million and has created four million sqft of retail, residential, office, hotel, and leisure space. Business giants such as Amazon have since opened their headquarters there, the first outside of London.
Spinningfields – otherwise known as the ‘Canary Wharf of the North’ as it has become the city’s new financial hub and restaurant district. Large companies such as PWC and HSBC now occupy this space. This regeneration consisted of a £1.5bn investment into 20 new buildings, for commercial retail and residential uses.
Liverpool Regeneration Projects
Liverpool is the best example of a regeneration success story. There have been so many regeneration projects in Liverpool, that it is hard to choose just one example.
The Liverpool Waters development is perhaps the most noteworthy. It is unlike any other project seen in Liverpool, and in the UK for that matter. With a £5.5 BN investment, the project will transform large stretches of the historic waterfront to create five new, dynamic neighbourhoods. Along with the sister programme – the Wirral Waters, both projects have been given enterprise zone status, which offers attractive incentives to businesses to invest there- such as business rate discounts, superfast broadbands and new space flexibility options. As a result, Liverpool is one of the most exciting regeneration areas in the UK. Liverpool is expected to compete for a waterfront economy with cities such as Barcelona, Toronto, and Boston.
The city is transforming in many ways, with new investments such as the My City transformation project, the £77m Railway regeneration, and investment into the landmark BioYorkshire research facility. These projects are just some of the new changes, that is set to add £3bn to the city’s economy and increase the population by 9% by 2040
In July 2022 £100m investment was confirmed to transform the infrastructure of York Central, A new community will be built next to York Station to accommodate new residential, recreational, commercial, and outdoor amenities. The local economy will benefit greatly from increased connectivity and public spaces in the heart of the UK’s most historic city. The regeneration Off-Plan projects will transform York!
This project will create:
– 2500 new homes
– 6500 new high-value jobs
– Surge in tourism
Why Should You Invest In Off-Plan In A Regeneration Area?
Off-plan developments in regeneration areas complement the revivals of the cities with contemporary demands and luxury amenities such as rooftop gardens, fitness suites, and cinema rooms – far more modern than traditional housing.
New residential developments are being built to accommodate the influx of residents and tourists that will result from the redevelopment when it is completed.
Short-term rentals are an excellent way to make high rental income because the developments are likely to be located in the heart of new modern areas with excellent infrastructure. Similarly, long-term rentals will accommodate the inflow of young professionals relocating to new positions developed as a result of the revitalization area.
Off-plan properties are often priced between 10% and 15% below market value, allowing you to invest in a brand-new home for less money. This, therefore, allows you to make a bigger potential rental revenue.
The capital growth potential is a big factor of off-plan investing especially in a regeneration area. Investing in an off-plan development in a regeneration region often leads to a price increase over time.
Off-plan investing allows you to purchase a property for around 15% less than its market worth, with the property likely increasing in value each year as the regeneration advances. Regeneration projects help to boost the economy by providing new amenities, which strengthens the whole property market and therefore the property value year after year.
When the time comes to sell your investment, there is also a straightforward exit strategy because the property will now be in a high-end location—likely an investment hotspot and will most likely sell quickly.
Advantage Investment is able to provide high-yield off-plan investments in regeneration areas, Manchester, Liverpool, and York.
Now would be the ideal time to secure the highest returns available through investing in regeneration off-plan projects!
To find out more information on our available investments. Contact email@example.com and one of our agents will be happy to provide the property brochures and any off-plan investing guidance.
To read more blogs that will help to benefit your portfolio click here.