The city is well-regarded when it comes to historical and cultural importance, maintaining two UNESCO inscriptions.
It is classed as both a UNESCO World Heritage Site and one of the Great Spa Towns of Europe. Bath’s fame has made it a popular tourist spot, and the sector brings in nearly half a billion pounds a year to the local economy.
Subsequently, Bath could also be an excellent location to target for short-term letting. In 2019, Bath’s hotel occupancy was 77%. While the region is still recovering from the effects of the pandemic, research shows the visitor economy is returning to pre-Covid levels.
With the rise of hybrid working, the number of potential London commuter towns has grown, and workers have started considering cities and towns further away from the capital.
For those who only need to travel to the office a few days a week, Bath has become an attractive place to reside.
As Bath is considered a ‘well-being destination’, with plenty of spas and beautiful surroundings, it’s a breath of fresh air compared to the cramped and busy London.
Bath residents can also commute to surrounding areas such as Bristol, widening the potential tenant pool that you can target.
There are two universities in the area, the University of Bath and Bath Spa University, and the city has plenty of appeal for students.
The University of Bath alone has over 20,000 students enrolled, and Bath Spa has around 8500. The city’s total population is about 90,000, so in any given year, nearly a quarter of the city’s residents are on the lookout for student accommodation. This makes Bath a good choice for investors interested in targeting students. Why not learn more about how to buy a house through your business in the UK, as an alternative investment option.
Student accommodation can sometimes offer better yields than standard residential buy-to-lets because students pay per person living in the property. If the location is chosen well, there will be a consistent stream of new students to target every year.