The city of Liverpool continues to hold much promise for property investors, while a number of landmark regeneration projects are set to bring even more to the table for the area.
One of the north west’s most up-and-coming areas in terms of the vast amount of investment and redevelopment taking place there, as well as its strongly performing housing market, Liverpool continues to be a favourite among investors looking for good value and high yields from their properties.
It was recently named as the best place to live and work in the UK in an index compiled by OneFamily, where it received particularly high scores in the categories for cost of living, pace of life, happiness of citizens and pride in the city.
Liverpool has also been the subject of great change in recent years, which has simultaneously seen it rise through the ranks as a property investment hotspot. Most recently, the redevelopment of Liverpool Waters, a £5.5bn scheme in the city’s northern docks, has been attracting huge interest.
The project, by Peel L&P, spans around 150 acres and across the water is the neighbouring Wirral Waters project which will also have a huge impact on the investability of Liverpool and its surrounding area.
Liverpool Waters is a 30-year plan
The sheer longevity of the vast project is one of the reasons investors are increasingly being attracted to Liverpool’s property landscape. Any area with long-term developments in its sightline can expect to see strong growth as various projects come to fruition over the years.
Speaking with Place North West earlier this month, Chris Capes, development director for the project, was optimistic about the progress of the mammoth 30-year project, in response to critics claiming progress was too slow.
“I feel we’re building momentum,” he said. “I think we’re going to start seeing a considerable amount of activity over the next two or three years.”
Capes also added: “It is really easy to criticise and not really understand the detail and the time that goes into development.
“These things don’t happen overnight, they take a long time to deliver. We’ve got a 30-year planning permission and we are 10 years in.”
The latest activity at the docks
Since the start of this year, the area within Liverpool Waters has been a hive of construction activity, with the creation of new homes at the heart of it. Romal Capital has made a start on its project to deliver 330 homes in the Central Docks neighbourhood, and X1 has begun its 278-unit project, Patagonia Place.
The team are also waiting for planning permission to be approved for infrastructure improvements that could secure land upon which 2,300 new homes could be built, as well as four acres worth of park land.
Speaking about the project’s huge appeal, Capes said: “It is an amazing development opportunity and that is what keeps me coming back to work every day. Making a difference, I suppose, is what comes down to.”
He also pointed out the “massive amount of passion” about Liverpool from its inhabitants, which is something that came up in OneFamily’s survey – the high level of pride that a lot of the locals feel about their city. “You’re left in no uncertain terms about what people want to see,” added Capes.
“We are the guardians of the land. The responsibility sits with us to develop it.”
BuyAssociation is working closely with Peel L&P, and has already helped a huge number of investors secure units in the first neighbourhoods within the new developments. Below is the latest construction update from the developer:
- The infill of the dock has commenced with the stone being compressed and works progressing at an impressive rate.
- Building and piling contractors have been appointed with piling estimated to begin within the next few weeks.
- Across the broader Liverpool Waters scheme, the new Isle of Man Ferry Terminal is nearing completion and work at Everton FC’s £500m stadium continues.
