Southport has a long tradition of tourism, and the sector is the biggest employer in the town. So, this area may interest investors looking for a property appropriate for short letting.
Short lets and holiday lets are increasingly popular as buy-to-let opportunities in the UK as yields can be much higher than standard residential rental properties, provided the property is in an in-demand location and seasonal pricing is well-researched.
However, it’s worth noting that most visitors to Southport don’t stay for an extended period as it has an image as a day-trip destination rather than a vacation spot. The local council has put forward ideas for nighttime attractions to encourage more overnight stays.
Southport is known as a relatively affluent area, but some of its attractions and historical features have declined in recent years.
For this reason, the local government has put forward plenty of regeneration plans to revamp Southport.
Many of the schemes will be targeting the waterfront. Southport Pier has already benefited from extensive restoration, and a new waterside events centre, all-weather visitor attractions and new nighttime attractions are also on the cards.
There are also various schemes to reinvigorate the town centre. In particular, Lord Street, one of Southport’s main shopping streets, has been targeted for further rejuvenation work.
Keeping up to date with regeneration plans is one way for investors to gauge which areas will grow in capital value and also help you guess which areas will be in demand in the future, thanks to job creation and attractiveness to residents. For something different why not read about the not Martin Lewis best way to invest 50k guide or our how to invest £100k in property in 2024.