Derby boasts a population of 274,000 people. Estimates predict the population to rise to 312,000 before 2040. Demand for property will only increase – good news for buy-to-let investors.
But there’s many factors to consider when buying rental property, so we’ve listed some of Derby’s attractive points for investors.
Derby has a long history in the textile trade. This is why the football team’s nickname is ‘The Rams’. In addition, the city stood as one of the foremost places during the Industrial Revolution.
In recent times, Derby has been known as one of the country’s manufacturing hubs. Notable employers in the area include:
Royal Crown Derby
Derby City Council and the University Hospitals of Derby and Burton also contribute to the local job market.
Derby is well-positioned as a city in the East Midlands. The area attracts companies and employees due to its proximity to the M1, A38 and A50. The East Midlands Airport is one of the busiest in the country. Travel time to London is under three hours. Commuters can also get to Birmingham in less than an hour.
Buy-to-let investors may benefit from the number of commuters choosing Derby for these reasons.
Derby serves as the main retail hotspot in the county. Friar Gate is the heartbeat of the city’s social life. Intu Derby has lots of shops, restaurants, cafes and other attractions. The Cathedral Quarter attracts people looking for independent shopping and a slice of culture.
Derby City Council plan to invest heavily in the city’s regeneration. The City Centre Masterplan 2030 is set to improve the city centre and usher in new jobs and homes. This will make the area more attractive to those seeking urban living.
The Becketwell scheme should also introduce new properties, offices and leisure spaces in the city centre.
Derby is a university city. The University of Derby has over 20,000 students. The Allestree campus sits north of the centre. The university also has a smaller campus in Buxton. Student property investors may do well in popular areas such as Uttoxeter New Road, the city centre and Allestree.