Cruise Ships Could Bring £1.5 Million to Liverpool’s Economy

Among the many exciting developments shaping the future of Liverpool’s Economy is one that echoes the city’s great industrial past – a new £50m cruise liner terminal  

Liverpool's Economy boosted by Cruise LinersLiverpool’s economy has welcomed one of the biggest “turnaround” cruise ships yet and this could just be the start of something big for the city. Historically, ships have been a large part of Liverpool’s economy, with its already large dock being developed by Liverpool Waters to accommodate larger ships in bigger numbers.

This could mean a £1.5 Million boost to Liverpool’s economy

Council officials believe the increased number of ships could bring a £1.5m boost to the area’s economy as they bring in almost 20,000 passengers and crew members. This £1.5 Million boost is a welcome addition to Liverpool’s regeneration, particularly at the waterfront which has been such a big part of Liverpool’s economy over history. With almost 20,000 people being brought into the city by these ships, this presents a great opportunity for Liverpool with a potential increase in tourism and an increased profile.  Council Officials want the city to grab a larger share of the global cruise market and therefore want to develop a new £50m “five star” cruise liner terminal, complete with the baggage handling and customs facilities needed. If this cruise liner terminal was built, they believe millions of pounds more could be brought to Liverpool’s economy each year.

Officials hope to put in a planning application later in the year and technical teams have already been appointed to design the new terminal. Liverpool Mayor Joe Anderson has also suggested that this supports the Liverpool Waters project and has already received overwhelming support from the industry.

Great news for buy to let investors

A boosted economy in Liverpool can potentially lead to a chain reaction of more jobs, tenants and demand. This is just one of many economy boosting regeneration projects we’re seeing in Liverpool now, however, this project may boost Liverpool’s tourism. Tourism helps support job growth and this can be another reason for increased tenant demand, as people filling newly created positions are looking for a place to live. Liverpool has also been named by a recent report as the UK’s top buy to let hot spot with rental returns of 8%; a great sign of growth for the city!

We have plenty of investment properties available now in Liverpool such as Reliance House which is perfectly located to benefit from this Waterfront regeneration. We always encourage our investors to look carefully at the location of a property they want to invest in, which is why news like this is great for investors!

If you want to capitalise on this growth in Liverpool then call us to find out more about the properties we currently have available. We have both student property investments and traditional buy to let investments available; our property consultants can help you decide which is best for you.

By Michael Gledhill | 9th June 2017
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