In recent years, the UK has experienced a significant amount of regeneration which has transformed entire cities, allowing them to escape economic decline and instead become highly populated hubs. There are a variety of different regeneration projects focusing on housing, as well as commercial and leisure spaces which are being funded by the government and private property companies.
Regeneration zones are key prospects for investors who are looking for affordable properties that will offer high capital appreciation and generous rental returns. To help you with your searching, you should take a look at the following regeneration zones where you could find your next successful investment.
This northern city has experienced a significant amount of regeneration which is still ongoing in areas such as the waterfront. Initiatives such as the Liverpool Waters Project is set to transform the once derelict waterfront into a thriving cultural hub. This is a £5.5 billion development which will offer the people of Liverpool high-quality homes, new job opportunities and places to wind down on the weekends.
Another Liverpool-based regeneration area is the Baltic Triangle, which was once home to industrial warehouses has now been injected with some life and is now one of the most upcoming areas in the north-west. This is due to contributions from property companies like RW Invest who have worked on off-plan developments like One Baltic Square, a luxury apartment complex built to accommodate young professionals looking to live in the city centre. This development is located in an ideal area, as there an abundance of bars and restaurants including the well-known Baltic Market, which receives custom from hundreds of residents and visitors every weekend.
Another northern city that has grown massively is Manchester. It is home to a number of successful regeneration projects that have helped achieve its unofficial status as the UK’s second city. One of the prominent regeneration areas in Manchester is Salford Quays formerly known as the Manchester Dock. Here is one of the most successful developments in the UK – MediaCity – which is now home to the BBC, ITV and other established companies. This has massively improved Manchester’s job market and also increased the student population due to the MediaCity campus being built for creative studies. It is also maximised Manchester’s graduate retention rate, as more students are choosing to stay due to the opportunities available.
One of the latest projects is the NOMA regeneration, which is a development plan created by Hermes. It intends to turn the famous 60s dancehall New Century Hall into a multi-purpose space for the people of Manchester. They have recently submitted plans to renovate the Grade II listed building into a cultural staple that would offer food for city-centre workers, a music venue and also college classes for those looking to further their careers. This unique idea will also help to create at least 157 job opportunities for Manchester citizens which will improve the economy further.
The capital city has undergone a significant amount of regeneration over the years, and although it has experienced a slump lately due to the housing market – developments are still ongoing. This includes government-owned projects in the boroughs of Barking and Dagenham which are being transformed by regeneration experts Be First. This includes a housing scheme which is set to provide 66,000 homes to the people of London, as these areas are in desperate need of decent housing.
Outer London is also benefitting from massive improvement which is being backed by the government and independent developers. This includes areas such as Harrow, Hounslow, Ealing, Enfield and more which should be receiving high-quality homes in a much quicker fashion – which is exactly what Londoners need.