Liverpool’s property market continually ranks as one of the strongest for factors like affordability and rentability, and the city’s added a new string to its bow.
The best location in the UK for buy-to-let landlords, the best place to be a student, the best place to buy property on a budget; these are just some of the qualities attributed to Liverpool in recent years.
Located just west of the Northern Powerhouse city of Manchester, in the rapidly improving north-west of the UK, Liverpool’s consistent regeneration programmes over the past couple of decade have seen it rise through the ranks for more than just its property market.
One of the most transformative regeneration projects taking place right now is the iconic £5bn Liverpool Waters development. The project will add five new neighbourhoods to the city’s most desirable waterfront location, and residents have already begun to move into the completed buildings.
Here are six reasons why the new neighbourhood is proving to be one of the most sought after places to invest and live in Liverpool.
1. Beautiful historic area
The team behind the Liverpool Waters project, Peel L&P, are working proactively to preserve Liverpool’s proud maritime and industrial heritage. Peel is in discussions with UNESCO and ICOMOS to retain the area’s World Heritage Status, meaning much of the location’s character and historic charm will remain.
Further down the river, the Royal Albert Dock is one of the most famous landmarks of the city, attracting swathes of tourists who come to see the iconic orange pillars. Nearby, the Port of Liverpool Building, the Cunard Building and the Royal Liver Building stand out across the city’s skyline.
2. Culture for every taste
There’s a museum for every day of the month in and around Liverpool, and several are within walking distance of Liverpool Waters. The Museum of Liverpool, the World Museum and the Merseyside Maritime Museum all look at the history of the city in depth, while along the river the Beatles Story and the Magical Beatles Museum attract thousands of the band’s fans every year.
Also along the waterfront is the Tate Liverpool art gallery, along with the Liverpool Exhibition Centre hosting a range of events throughout the year. For music lovers, there are plenty of venues across the city including the Philharmonic Hall, the O2 Academy and the Cavern Club.
3. Busy social scene
According to a recent article from Yahoo, there are three “entertainment and social businesses”, including restaurants and bars, for every 1,000 people in Liverpool. There are also hundreds of shops, including around 170 within the Liverpool One shopping centre which is also home to a 14-screen cinema and an adventure golf centre.
Around the waterfront itself there are plenty of trendy restaurants, pubs and bars that local residents can enjoy. Within the new Liverpool Waters development, there are already a number of places to eat and drink up and running, with more to follow.
4. Top transport links
Liverpool is a well-connected city, with regular buses across town and into the nearby Wirral, as well as frequent train services from Liverpool Lime Street to the rest of the country. By road the M62, M57 and M58 are all close by. For green transport, much of the city and waterfront is perfect for pedestrians, while the Liverpool “cycling revolution” is set to transform accessibility for bikes in the city by 2026.
Sitting right on the River Mersey, Liverpool Waters also offers easy ferry links over to the Wirral as well as directly to the Isle of Man. You can also travel directly from Birkenhead – just over the river – to Belfast in Ireland, or to Dublin from a further port to the north.
5. An affordable place to invest
The average price of a one-bedroom property in Liverpool is just £94,000, and average mortgage payments come in at around £341 per month according to Zoopla. This price of course varies across the city, but it’s one major draw for first-time buyers and property investors looking for a good value investment.
The L1 district – right in the centre of the city – was recently named the top place for buy-to-let yields in the UK. Investors can achieve average yields there of 10%, based on the median asking price of £90,000 and rental income of £750 a month.
In Liverpool Waters, prices at the recently sold out Park Central development, containing 129 one and two-bedroom apartments, started at just £136,492. Yields in this area (L3) are the 15th highest in the UK, according to Totally Money, at an impressive 7.4%.
6. More opportunity ahead
The Liverpool Waters project is ongoing, with active building and development taking place across the 60-hectare site.
On the developer’s website, it states: “The gravity of adding Liverpool Waters to the city’s existing waterfront offer will see Liverpool competing with the likes of Hamburg, Boston, Toronto and Barcelona in terms of the scale and diversity of its waterfront offer and associated economy.”
BuyAssociation has now sold out of all its units at the Park Central development in Liverpool Waters. If you’re interested in any future investment opportunities in the project or in Liverpool, sign up now to register your interest – get involved before it reaches the wider market.