New development hotspots for commercial property investors
Currently, millions of pounds are being spent on ambitious and innovative regeneration projects across the country.
The new developments created by this regeneration offer plenty of exciting opportunities for retail and commercial property investors.
Let’s take a look at some of the hotspots.
In Manchester, and in and around Greater Manchester, there are plenty of new developments springing up.
Manchester city centre has been transformed in recent years and is one of the healthiest places for commercial investment. The newly enhanced tram network makes it easy to commute into the centre. The extension of the MetroLink tram system, the prospects offered by the Northern Powerhouse, and new developments including the Salford Quays complex, have combined to make Manchester a thriving commercial centre.
And this investment has caused a ripple effect with new opportunities spreading out to areas such as Bolton and Stockport.
There’s been huge regeneration in Liverpool’s city centre, and more is set to come as the city is part of the Northern Powerhouse. But prices haven’t yet caught up, so you can still pick up a bargain.
The Liverpool Waters project is finally getting off the ground, and so is the Wirral Waters scheme on the other side of the Mersey. A vast area surrounding the old docks will be transformed – new projects include a port and cruise terminal.
The Peel Group, the company behind Liverpool Waters, is also responsible for The Trafford Centre and Salford Quays in Manchester – giving them a credible track record.
Bicester has enjoyed millions of pounds worth of investment thanks to its status as a Garden Town. It’s situated along the growth corridor between Oxford and Cambridge and has been named as one of the fastest-growing economic centres in Oxfordshire.
The town’s population is forecast to nearly double by 2032, from 30,000 to 50,000. Bicester is 15 minutes into the centre of Oxford and around 45 minutes into central London, making it popular with commuters.
The Oxfordshire market town already boasts an internationally renowned designer shopping outlet and in recent years has become a hotspot for investors.
Bracknell town centre was transformed by the addition of The Lexicon, a £240 million, one million square foot retail and leisure destination. Major retail tenants include Marks and Spencer, Fenwick, Waitrose, Joules, and L’Occitane.
The town has also become a significant centre for technology companies with one of the highest proportions of workers employed by the biggest companies in Britain. In 2016, this was recorded as 16.2% - double the UK average of 8.4%.
Bracknell is just an hour commute from London and offers some excellent investment opportunities thanks to its thriving retail sector.
Due to its situation along the proposed Crossrail railway line into central London, Slough has seen considerable investment in recent years.
A one billion pound, 15-year regeneration project was started in 2012, and the town has already benefited from commercial and community developments such as The Curve. Slough has a flourishing commercial centre with a concentration of global businesses including O2 Telefonica, Ferrari and Mars UK.
Further interest will come from the proposed Western Rail Access to Heathrow that will enable access to Heathrow Airport in as little as six minutes.
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