It is predicted that by 2024, property prices in the North West will have risen by 24% since 2019. These promising property price growth predictions, as well as the ever-growing population and regeneration of the UK’s North West region, mean there are exciting times ahead for the upper half of the country. The North West is on track to remain as strong as ever in 2020 too. One main way the region is forecast to thrive further is with the ongoing regeneration throughout the area.
Both Liverpool and Manchester are highly-influential cities and despite being in the North are some of the most populated areas in the UK. The vast regeneration schemes that have improved both city centres have proved successful in driving economic change and population growth.
Are you interested in finding out what’s in store for the Northern cities regeneration in the next year? We’ve rounded up Liverpool and Manchester regeneration plans for the future and the previous projects that have positively impacted the cities.
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Manchester Regeneration Plans
Manchester is known as the capital of the North. The city is nestled in the heart of countless regeneration projects and has undergone vast changes throughout the last few decades. The city, along with Salford, is an innovative hub for corporate, creative and retail businesses. The regeneration projects in Manchester (organised by both the local council and private businesses) have changed the skyline and alterated what individuals think of the Northern city.
What does the next year look like for Manchester regeneration plans? There are a few developments that are scheduled for completion and other plans that are starting to take shape in the city centre as well in the surrounding city areas.
100 Embankment Manchester – An Innovatively Designed Office Block
100 Embankment is a highly-anticipated addition to North West. Located in Salford and sitting alongside its sister building, 101 Embankment, 100 Embankment will consist of a nine-storey office block complete with a roof terrace offering views of Manchester and Salford. Manchester is one of the UK’s youngest cities, with crowds of young professionals choosing to live and work in this Northern Powerhouse. By introducing innovative new office spaces, the completion of 100 Embankment will attract even more workers and businesses to the North West and strengthen the economy through more jobs, making this one of the most promising regeneration projects the UK will see this year.
Liverpool Regeneration Plans
Liverpool has seen vast regeneration throughout the last two decades. The influx of regeneration projects has meant that more investors are moving north from the south and cities like London. Investors are now seeing the large amounts of capital they can receive from investing in a high yielding city such as Liverpool. In fact, the L1 Liverpool postcode has been named the top buy to let rental yield area in the whole of the UK, and the regeneration has a lot to do with this.
So, what’s in store for Liverpool and it’s regeneration in 2020? Let’s take a look…
The Anfield Project is Expected to Complete
One of the most extensive regeneration projects in the UK has seen in recent years, the Anfield Project has contributed a lot to the growth of the North Liverpool area. Since launching in 2012, this project has seen £36 million worth of investments into local housing, with over 300 homes being refurbished and 600 new mixed-tenure homes being developed. Anfield stadium has also been regenerated as part of the scheme, including the introduction of a new £120 million main stand. In 2020, the Anfield Project is expected to complete, with plans to improve the Anfield stadium further by increasing capacity with the introduction of new seating. Further plans within this Liverpool regeneration scheme are set to complete this year which will improve the Anfield area as a whole and boost the quality of life for local residents.
Fabric District Residence Completion – A Thriving Residential Development
Fabric District Residence, a highly-anticipated Liverpool development, is also expected to complete in 2020. It’s a stylish new residential development based in one of the city’s most up and coming districts. The Fabric District is an area that plays a key part in the Liverpool regeneration scene and the overall regeneration of North West cities. Redevelopment for the area revolves around a vision for the district to become a thriving destination for people of all ages, filled with commercial, residential, and retail units. The finalisation of the Fabric District and the development itself will help to continue economic growth within the city and attract more young professional tenants to live and work in the area.
One Baltic Square Completion – A Skyline Altering Development
The Baltic Triangle area has played a huge part in the ongoing regeneration of Liverpool. The area is constantly evolving and strengthening its name as one of the most innovative neighbourhoods. The Baltic Triangle was even named the top ‘coolest’ place to live in 2017 by The Times. One Baltic Square, a skyline altering development is set to complete by the end of 2020. It is a striving new residential development forming a unique urban village made up of five buildings. The Liverpool development is set to be one of the biggest city centre developments and will cater to a plethora of young individuals as the scene of professionals grows in the Baltic area.
From the exciting 2020 regeneration plans the two cities have, it’s no wonder that the North West is thriving and property prices are soaring (with no signs of slowing down). Rental demand is at an all-time high, and countless large corporations are making their way up to these Northern cities to see what all the fuss is about.
If you’re an investor interested in finding out more about how the regeneration in Liverpool and Manchester is positively impacting property investment, contact RWinvest for more information. We are involved in countless developments and projects across the North West and the UK.