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Top buy-to-let location Liverpool set to receive £1.5 billion in city-wide regeneration schemes
June 30, 2014Article by Ray Withers
Liverpool, named by the Daily Telegraph as a top buy-to-let location for 2014, is in the press again as its Mayor unveils £1.5 billion plans for the city. An Olympic-standard ice rink on Kings Dock is at the heart of the development and the city-wide schemes also include proposals to transform Lime Street and Mount Pleasant.
Schemes will make Liverpool “an even greater place to live, work and invest”
Mayor Joe Anderson explains: “These schemes demonstrate there is a vibrant, exciting future ahead for Liverpool. The projects we are developing for Kings Dock and Lime Street will make the city an even greater place to live, work and invest. I promised our best days are ahead of us and these key projects are evidence of some of the things we have planned for the future. Crucially these plans will bring thousands of jobs to the city which will ensure we have a sustainable future.”
He continues: “Regenerating the city centre is vital but we are also working hard to deliver transformation across Liverpool as a whole. Greater Homer Street, Edge Land and Anfield are all now seeing significant progress and there will be more to come in the future, with thousands of new and refurbished homes planned city-wide.”
Thousands of new jobs set to boost local economy
The projects are estimated to create 12,000 construction jobs and bring further employment to the city through new ventures. Kings Dock will see the new ice rink, alongside an extreme sports complex, quality restaurants and family homes. The former ABC cinema in Lime Street is set to be turned into TV studios and a music venue, with the nearby former Futurist cinema converted into a hotel, family restaurants, shops and accommodation for mature students. The old site of the iconic 051 Club, currently a council-owned multi storey car park, will also make way for a landmark new building.
Further details on the just-announced plans will be released over the coming months, with planning applications submitted by the end of 2014, beginning of 2015.
Waterfront hotspots in the lead
Ray Withers, CEO of Property Frontiers, comments: “While London and the south continue to lead nationwide market recovery, hotspots in the midlands and north are definitely heating up. Whenever a city gets a makeover, the area’s desirability goes through the roof. Local employment gets a boost and the housing market gets pushed up as more people move into the area. We saw it happen with Manchester with the BBC and Salford Quays and now we are seeing similar in Liverpool.”
He continues: “Here, another quay is rising in popularity. Occupying a prime position in Liverpool Waters, Herculaneum Quay is a stunning, contemporary waterfront development with spectacular views of the River Mersey, the Wirral coastline, the Welsh mountains and surrounding urban landscape. Now, Property Frontiers clients can invest in luxury apartments here from £82,500 for assured gross yields of 8.5 per cent. Contact our team to find out more.”