Several towns in the North West of the UK are undergoing significant regeneration projects, creating exciting opportunities for property investors. These areas are seeing improvements in infrastructure, housing, and commercial developments, which will likely boost property values in the coming years. Here are some of the key towns and cities leading the way with regeneration efforts:
1. Manchester
- ￡4.5 billion regeneration programme: The NOMA development is a major urban renewal project that is transforming a large area near Manchester’s city centre into a mixed-use space with new offices, residential areas, retail spaces, and public amenities. This, alongside projects like the Manchester Life Development and the St John's Quarter, will drive further demand for housing and contribute to higher property prices.
- Spinningfields: Known for its high-end offices, residential developments, and retail spaces, this area is seeing sustained investment, particularly in luxury properties, making Manchester a hotspot for investors.
- Transport Upgrades: The High-Speed 2 (HS2) rail link will further strengthen Manchester’s position as a key property investment hub.
2. Liverpool
- ￡1 billion waterfront regeneration: The Liverpool Waters project is a 60-acre redevelopment that will bring new residential, office, and retail spaces along the waterfront. This is likely to transform the city's property market, creating high rental yields and increased property values.
- The Knowledge Quarter: Focused on expanding the city’s tech, education, and health sectors, Liverpool’s Knowledge Quarter is boosting demand for both commercial and residential properties.
- Ten Streets Project: This aims to transform the area into a creative and cultural hub, making it attractive for young professionals and increasing demand for properties.
3. Blackpool
- ￡300 million regeneration programme: Blackpool is undergoing a major revitalization, with plans for new hotels, leisure facilities, and residential developments, particularly in its seafront area. This project is designed to attract more tourists and residents, which is likely to boost property demand and values.
- Blackpool Central: A large-scale redevelopment project will bring new residential developments, entertainment spaces, and public areas. The town's growing appeal as a tourist destination also makes it an attractive investment location.
4. Preston
- ￡430 million regeneration plan: The Preston City Deal is a comprehensive initiative aimed at improving transport links, commercial spaces, and housing. This development is expected to revitalize the city centre, offering opportunities for both residential and commercial property investments.
- UCLan Masterplan: The expansion of the University of Central Lancashire is another key factor driving regeneration, with the development of new student accommodation and facilities.
5. Burnley
- Levelling Up Fund: Burnley’s ￡19.9 million Levelling Up funding will support various regeneration projects, including improved transport infrastructure and the redevelopment of town centre areas. The area is seeing a lot of interest due to its affordable property prices combined with improved connectivity.
- Canalside and Town Centre Masterplan: This initiative aims to improve public spaces and develop mixed-use residential and commercial areas, making Burnley an attractive option for investors seeking affordable opportunities in a regenerating area.
6. Wigan
- ￡10 million redevelopment plan: Wigan is investing in revitalizing its town centre with new retail, residential, and leisure spaces. The town has also received investment for public transport links, which is expected to drive demand for housing.
- The Galleries Project: This significant regeneration project in Wigan will create new residential properties and spaces for businesses, providing opportunities for property investors.
7. Chester
- ￡300 million investment: Chester’s Northgate Development is set to transform the city with new retail spaces, restaurants, and residential areas. Chester is a popular area for commuters due to its proximity to Liverpool and Manchester, which will continue to boost property demand.
8. St Helens
- ￡40 million regeneration programme: This includes major upgrades to the town centre, with new homes, retail spaces, and leisure facilities. It’s an area to watch for investors, especially as St Helens’ property prices remain relatively affordable compared to nearby Liverpool and Manchester.
9. Wirral
- Wirral Waters: A ￡4.5 billion regeneration programme along the waterfront, bringing new residential developments, leisure facilities, and improved transport links. This is expected to significantly boost property demand in the region.
Conclusion
These towns and cities are making large-scale investments in regeneration, which will likely drive property prices upward in the coming years. Areas like Manchester, Liverpool, and Blackpool are especially exciting for property investors due to their proximity to major cities and their ongoing development. Investors should keep an eye on these regions for affordable entry points in areas experiencing significant growth.
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