Prices From £139,950
Assured 7% NET Rental Yields
Snow Hill Wharf
Prices from £227,500
5% Projected Rental Return
Prices From £249,950
Up to 6.5% Projected Rental Return
Luxury Slough Development
Prices from £324,950
ELEMENT - The Quarter
Prices from £74,950
8% NET Rental Return
Prices from £410,000
Excellent Value Units
UK Regeneration Areas in 2021
The UK has rapidly changed over the last few decades thanks to a host of UK regeneration efforts. From Liverpool to London, cities and towns from across the country are almost unrecognizable from 10 years ago. If you want to learn all about the major UK regeneration projects, keep reading this ultimate guide to UK regeneration hotspots.
As a property investor, there’s one key aspect of a city you need to keep an eye on: regeneration.
Regeneration can be one of the best signposts for a city that’s worth investing in, as UK regeneration projects can often cause a city to boom in rental demand and capital growth.
The UK has seen a wealth of regeneration in the last two decades, with several key cities like Liverpool and Manchester completely transformed through the efforts of UK regeneration.
These previously run-down cities are now some of the best places to live and often promote some of the highest rental demand.
With so many areas being regenerated UK, it may be hard to choose the one most ripe for investment. With this in mind, where’s the best place to invest?
Well, if you want to find the best regeneration areas in UK 2021 to help answer this question, you’ve come to the right place.
Here we have listed 12 top UK regeneration areas worth considering for your next buy to let venture.
From small towns to megacities, these are the absolute best UK regeneration areas getting remade and redefined in 2021 and beyond.
Keep reading to learn more about UK regeneration hotspots and the UK regeneration projects that have helped UK towns and cities boom.
List of Regenerations Areas in UK
Choose an area to read more about
What is Regeneration?
Before we get onto our list of regeneration areas in UK, though, it’s important to address the elephant in the room. What exactly do we mean by regeneration?
When talking about regeneration, we are referring to the money invested into an area that leads to the development of new transport links, retail spaces, housing, commercial areas, and leisure spaces like parks.
This can be both inward investment from the local government or city council, but can also mean investment from foreign sources like overseas investors.
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- Knowledge Quarter
- Liverpool Waters
Where better to start on our list than perhaps one of the greatest UK regeneration success stories and UK regeneration hotspots of the last century?
The European Capital of Culture in 2008, Liverpool has been transformed over the last two decades, thanks to billions of pounds pumped into the local economy.
Liverpool now sits as the top UK city for computer science research and is the 2nd fastest growing digital cluster in the UK.
Liverpool is undoubtedly one of the best UK regeneration areas. There have been so many UK regeneration projects in the city, in fact, that it would warrant a whole list of its own.
Regeneration in the UK has transformed many places, and Liverpool is almost unrecognisable from even a decade ago.
The first significant project was LiverpoolONE, which transformed the city centre into a thriving commercial hub.
Costing a staggering £960 million, LiverpoolONE is an outdoor shopping centre that rivals any in the UK.
Home to huge clothing lines, tech stores, and other top retail outlets, the project launched in 2008 and has been credited as the catalyst for Liverpool’s miraculous growth.
Liverpool City Centre used to be drab and dull, but a wave of investment has attracted some of the biggest retailers and designer brands to Liverpool’s streets.
An improvement in transport links also followed in the wake of LiverpoolONE, with the integration of a large bus station.
Research by broadband specialist Glide in late 2020 found that Liverpool is one of the top UK regeneration areas for opportunities.
With currently 15,339 empty dwellings in the area, both residential and commercial, there are massive prospects for investors to transform the region.
Developers have certainly noticed this, as there are currently tonnes of ongoing UK regeneration projects and UK urban regeneration projects in the area.
Urban regeneration in UK areas is vital, and Liverpool City Council and the local government have certainly aimed to achieve this.
One of the top regeneration projects UK is the development of Liverpool’s Knowledge Quarter.
Home to some of the top science institutions and universities in the UK, the Knowledge Quarter is a bustling innovation and progress area.
With an eye-watering predicted injection of £2.2 billion, the site is set to be further transformed.
Home already to the School of Tropical Medicine, Liverpool Science Park, the National Oceanographic Centre, and more, the brilliance in the area has the potential to change the world as we know it.
The site has already seen a £600 million cash injection, and more money is set to follow.
The Health Campus, centred on the £450 million rebuild of the Royal Liverpool University Hospital, is set to see another wave of cash investment, with a £25 million Life Sciences Centre and a £118 million cancer treatment centre.
Another massive project in the Knowledge Quarter is Paddington Village, a mammoth £1 billion investment.
The site, which is well into development after getting the green light, spans 30 acres and will feature 1.8 million sq. ft. of new science, technology, education, and health space.
The area will be one of Europe’s leading innovation districts and sits on the former site of the now moved Archbishop Blanch High School.
Paddington Village will be on a similar scale to LiverpoolONE and has already reached several milestones.
The University of Liverpool’s International College has already opened its doors in Paddington Village and has welcomed its first wave of students.
Likewise, a new £35 million headquarters have been opened for the Royal College of Physicians’ called The Spine. The Spine is the first Grade A office building built in the Liverpool City Region for more than a decade.
The Knowledge Quarter, in general, breeds brilliance and excellence.
The new Rutherford Cancer Centre is currently being built and is set to use pioneering proton beam therapy treatment.
Along with this, you can also find the Liverpool Science Park – a 120,000 sq. ft. area of innovation.
Straight out of a Marvel film, the Park is home to nanotechnologies, biotechnology, and healthcare.
This is just the tip of the iceberg, as there are so many UK regeneration projects focused on the area.
Another exciting project is the Liverpool Waters development.
The project is set to transform large stretches of Liverpool’s historic and famed docklands into five dynamic new neighbourhoods.
Here, a whopping two million sq.m. of residential, leisure, and business space will be introduced.
The neighbourhoods in question will be called; Princes Dock, Central Docks, Clarence Docks, Northern Docks and the King Edward Triangle.
This development is unlike any seen in Liverpool and is perhaps one of the most ambitious regeneration projects in the UK.
It’s not just Liverpool Waters making headlines, though.
There are already several ongoing projects being built in Liverpool right now, with the development of the iconic Lime Street and The Strand.
Coupling this with state-of-the-art residential builds like ELEMENT – The Quarter and Parliament Square, Liverpool is one of the most exciting regeneration areas in UK 2021.
Despite the pressures of Covid-19, Liverpool was undoubtedly one of the better regeneration areas in UK 2020, and has continued this growth in 2021.
The local government continues to do an excellent job supporting the regeneration of areas in the UK and has helped transform this UK city into an ideal location to live and work.
Property prices here have increased in value by a staggering 220.81% since 2001.
With rental demand higher than ever and multiple ongoing projects set to promote further growth in Merseyside, there’s perhaps never been a better time for Liverpool property investment if you’re an aspiring landlord.
Liverpool is undoubtedly one of the top UK regeneration areas in the last two decades and is worth considering if you’re looking at a buy to let investment.
The North West is currently the top performer when it comes to property price growth, with a predicted 28.8% rise by 2025- the highest in the UK.
Out of all the UK regions, the North West seems to be doing the best.
Here, property prices are predicted to increase by 28.8% by 2025- the highest in the UK.
Continuing this North West trend of performing well is Manchester.
Another city that could warrant a list of its own, Manchester has also seen its fair share of mammoth UK regeneration projects and UK urban regeneration projects.
Alongside Liverpool, it is another example of the top UK regeneration areas and UK regeneration hotspots.
One of Manchester’s most significant UK regeneration areas is undoubtedly Spinningfields.
One of the most famous regeneration projects in the UK, the project has spanned three decades and has totalled around £1.5 billion.
The regeneration has been so expansive that it essentially added an entirely new area to Manchester’s sprawling metropolis.
Spinningfields is now the heart of Manchester and is home to well over 150 world-class financial and commercial organisations.
In fact, due to its concentration of world-class businesses, it has been dubbed the North’s Canary Wharf.
Named after a narrow back street in Deansgate, the area used to be a decrepit college campus and is now one of the UK’s top regional business quarters.
Work continues still in the area, too. In 2018, a new restaurant opened on the rooftop of 1 Spinningfields tower.
Called 20 stories due to the fact it sits 20 storeys high, the tower is 302 ft high and is the tallest office building built in Manchester since 1962.
Along with Spinningfields is another colossal project, NOMA.
One of the most significant development projects in the North West, the NOMA scheme is a 20-acre mixed-use development near Manchester city Centre.
The project has already cost a staggering £800 million and has seen the creation of four million square feet of retail, residential, office, hotel, and leisure space.
A report in 2019 found that the scheme annually generates £210 million in wages and has created 5,500 jobs.
The area is set to see even more development, too. The Manchester Evening News has reported that an extra 620,000 sq ft of new offices could be built.
The site has also attracted titans Amazon to open their first UK headquarters outside of London.
Another UK regeneration success story is Salford’s MediaCityUK.
Previously Salford Quays, the area was a derelict industrial dockland before regeneration projects started back in 1985.
This regeneration eventually culminated in MediaCityUK, a thriving hub of business and investment.
The area is home to some of the biggest media companies in the UK, including the Northern headquarters of the BBC and offices for ITV.
The site’s construction first began in 2007, with a £1 billion expansion plan outlined back in 2016.
The local plan stated the site was to double in size over the next ten years and would include the development of more TV studio and production spaces as well as offices and 1,400 new homes.
With the increasing prices in southern cities like London, more and more investors and companies are moving to the North West, creating a hub for industry and investment.
More Upcoming Manchester Regeneration
Aside from NOMA, there are several current developments in the pipeline.
Firstly, is the exciting Northern Gateway redevelopment.
Spanning a 155-hectare site in the north of the city centre, the Northern Gateway Redevelopment will see the creation of new spaces for enterprises and leisure facilities, as well as new transport links and public spaces.
It’s estimated the project could cost a whopping £1 billion.
There are also plans to expand and develop Withington Village, a suburb in south Manchester.
The local plan outlines improving public space and green space, creating a more pedestrian-friendly environment, and improving walking and cycling routes to the area.
Other projects include the regeneration of the North Manchester Health Campus, which will see a new acute and modern mental health hospital.
There are also plans for a Wellbeing Hub, which will include meeting spaces and a community café.
Notably, in 2021, there are set to be a series of projects finishing or making significant progress over the next 12 months.
These include the opening of the Royal Horticultural Society’s fifth public display garden, RHS Bridgewater, a public consultation meeting for the development of Piccadilly Gardens, and major development progress of a £1.5bn University of Manchester project, ID Manchester.
Like Liverpool, Manchester was one of the better regeneration areas in UK 2020, and has plenty of projects lined up for the future.
With extensive plans to improve shopping areas and new luxury apartments like Merchant’s Wharf, the North West seems to be one of the best places to live and invest at the moment.
These developments in the North West have led to massive growth in UK property prices and rental prices.
Property in the region is highly sought after and house prices in UK property are set to rise by 21.1% by 2025, according to Savills’ five-year house price forecast.
In the North West in particular, there is expected to be an even bigger growth at over 28.8%.
The region is currently top for house price growth out of the UK’s regional cities.
Rent prices are also increasing too with a 6.8% increase in March 2021. The area is arguably the best place to invest in property UK in 2021.
If you want to invest in the best UK regeneration areas, you should certainly consider Manchester property investment.
- Old Oak Common and Park Royal
- Barking Riverside
Speaking of iconic cities, where would our list of top regeneration areas be without talking about London?
An example of a regeneration area in south UK, the UK capital is no stranger to investment, with several massive London regeneration projects over the last 20 years.
With transformative London regeneration projects following the 2012 Olympics, the capital continues to flex its economic muscles.
The city attracts more foreign direct investment than any other in the UK. According to Statista, there were 458 projects as a result of foreign investment in 2018.
For context, the nearest competitor was Manchester with just 37 projects – meaning London has 12 times more projects than second place.
This is why London was one of the best regeneration areas in UK 2018, and continued to excel as one of the best regeneration areas in UK 2019, 2020, and now in 2021.
But London’s storied past isn’t what makes regeneration here interesting; it’s what the future holds for the capital, instead.
East and South East London
The capital is a varied landscape, and one of the top London regeneration areas lies to the East and South East of the city.
Several London regeneration projects are set to transform several key areas in the region.
Firstly, Thamesmead is set to get a considerable makeover thanks to a 30-year master plan.
The master plan is aimed at transforming the estate into a sustainable neighbourhood that lies only 20 minutes away from the historic West End.
These changes are set to begin once the £14.8bn Crossrail project arrives to the area.
Along with this, 8,000 new homes and 4,000 jobs are set to be created in the area, as well as access improvement to 5km of the riverbank, 7km of canals, 350 acres of open space, six lakes, and nature reserves.
Secondly, Barking Riverside in East London is set to be transformed with the introduction of a whopping 10,000 new homes and seven schools.
Likewise, areas like Canada Water, Greenwich Peninsula, Royal Arsenal, and more are set to be completely rejuvenated through a variety of London regeneration projects.
Canada Water, for instance, is set to become a transport hub serving more people than Liverpool Street thanks to extensions to the Jubilee Line by 2029.
Meanwhile, Greenwich Peninsula is set to introduce seven new neighbourhoods, while Royal Arsenal will see further growth thanks to new Crossrail links to the region.
There’s also several London regeneration projects and London regeneration areas in the West of London.
Old Oak Common and Park Royal are one of the primary areas set to see some significant work.
Valued at an eye-watering £26 billion, the area is set to be heavily transformed through several key initiatives.
Firstly, a £1 billion transport superhub is set to be created on the 160 acres of wasteland in Acton. This superhub will act as the only HS2 and Crossrail interchange and will be connected to the £3 billion Imperial College via a brand new high street.
There are already 4,000 residents living in the surrounding area, along with 2,000 businesses and 43,000 workers.
These plans will undoubtedly further improve the area, and will attract plenty more residents and businesses to an already thriving region.
Like the other London regeneration areas, there are plenty of London regeneration projects found in the North of London.
Firstly, a new Thameslink Station is set to be opened in Brent Cross from 2022. Notably, the station will offer trains to King’s Cross that will take just 15 minutes.
There are also plans to bolster the surrounding area, with 6,700 new homes planned, as well as revitalising an old shopping centre with the introduction of new restaurants, a hotel and a cinema.
Similarly, part of Upper Lee Valley is set for a facelift with the introduction of a 20-year regeneration plan called Meridian Water.
Here, there are plans for 10,000 new homes, 40% of which are set to be affordable, along with new public spaces and community facilities across the 210-acre site.
Developments have already started in the area, with a new station opening in 2019, making the area one of the better regeneration areas in UK 2019.
Like other regeneration areas London, the region has huge potential for growth and will continue to attract more and more businesses and residents in 2021 and beyond.
London Property Market
The London property market has struggled recently.
While regeneration and foreign investment continues to rise, affordability is continuously becoming a struggle with demand for property diminishing.
This has had a significant impact on house price growth, with the region set to increase in value by just 12.6% by 2025 – the lowest in the UK.
House price growth isn’t the only aspect where London is performing poorly.
Likewise, London is among the areas with the slowest recovery in jobs after covid.
In research by the Centre of Cities and Indeed, job postings in the capital are 26% below their pre-pandemic levels.
Meanwhile, the North is recovering the most, with nine cities and towns like Barnsley and Stoke having more job vacancies than before the pandemic.
There’s a great deal of uncertainty in the London market, and it may be a while before it’s worth investing in the region.
According to the latest UK House Price Index data available, London house prices in February 2021 were 12.48% lower than a month prior.
That means in just one month, house prices in the city of London dropped by a staggering £96,332.
For comparison, the average Liverpool property increased by a reasonable 0.53%.
While London is certainly an excellent example of regeneration areas, it may not be the ideal property investment location for the foreseeable future.
- Heart of Slough
- Iron House and Steel House
One regeneration area in south UK that has often went under the radar is the town of Slough.
Located just outside of regeneration areas London, Slough has a bad reputation of being dull and drab.
However, over the last decade, the area has been completely transformed through regeneration.
Not only has the Slough region become one of the top regeneration areas thanks to prolific regeneration projects, but the area has started to generate one of the strongest local economies in the UK.
The town is home to the largest concentration of global corporate headquarters outside of London, and features the largest trading park in Europe.
While the town is already thriving, it’s set to soar to even higher heights thanks to a variety of top regeneration projects in the UK.
Heart of Slough
Perhaps the top regeneration project in the region is the Heart of Slough initiative.
The scheme is part of the Slough Urban Renewal project and has been valued at over £3 billion.
As part of the scheme, several key landmarks have been rejuvenated and developed.
One such landmark is the cultural hotspot of The Curve.
Costing £22 million and completed back in 2016, The Curve is one of the most iconic sets of architecture you’re likely to find in the UK, with a three-dimensional curved design that was crowned the Development of the Year 2017.
This top example of UK regeneration areas 2017 cemented Slough’s place as an incredible prospect for investors.
While a library in name, The Curve has a lot more to offer locals with performance venues, learning spaces, exhibition areas, and even houses the Slough Museum.
Following The Curve’s implementation, the Queensmere Shopping Centre is also set for a makeover.
The extremely ambitious development will see the development of a staggering two million sq.ft. of office space, along with 500,000 sq.ft. of retail space and 1,200 new apartments.
Another megaproject that has benefitted Slough property investment is the introduction of new Crossrail links in the area.
Crossrail is a new railway project underway in the London region and has connected a tonne of locations like never before.
Estimated at costing a staggering £14.8 billion, these links will allow 1.5 million people easy access to central London in just 45 minutes.
Four high capacity train services will connect people in the surrounding area of London, like Slough residents, to key areas like Heathrow Airport and Canary Wharf.
Slough has already been voted as the second-best location in Europe for connectivity, and with these extra links, it is now the ultimate commuter town.
In fact, the implementation of these new links has already had a strong impact on the local housing market with nearby property prices rising by 66%.
Iron House and Steel House
Speaking of property, Slough is set to see a wealth of housing developments across the region.
The Slough Northern Extension, for instance, will provide 10,000 new homes to the area.
Alongside this development, exciting Slough property like Iron House and Steel House is also being built.
Known as Metalworks, the two housing developments are set to take the area by storm with a luxury design previously not seen in the area.
The South East region along with Slough are expected to see house prices grow by 18.7% over the next four years, so now is an excellent time to invest in the area.
While Slough may be the butt of the joke in Ricky Gervais’ The Office, it has quickly found its feet as one of the top UK regeneration areas.
After performing well and becoming one of the most exciting regeneration areas in UK 2021, the following year is set to be a great time for Slough.
If you’re looking to invest in a regeneration area in south UK, look no further than Slough.
For landlords, the average property price in Slough is valued at around £308,428 in 2021.
While this is above the UK average, it’s significantly below the region’s average, which costs around £345,075.
This makes Slough property investment an incredibly affordable southern property venture.
- High Speed 2
- Birmingham Smithfield
- Snow Hill Wharf and 105 Broad Street
According to research by Glide, Birmingham was in the top three regeneration hotspots along with Liverpool and Manchester.
With 15,708 empty dwellings in the UK’s second city, there is ample room for regeneration in the area.
Birmingham is another example of regeneration in the UK and is one of the many prolific UK regeneration hotspots.
One of the top regeneration projects UK and an example of the most famous regeneration projects in the UK is Birmingham’s Big City Plan, which will help see the City Centre grow.
This local plan encompasses the headline project, the HS2 development.
HS2 or High Speed 2 is a planned high-speed railway that will span the United Kingdom and will link many UK regions.
It will link London, the Midlands, the North, and Scotland with over 25 stations and connect around 30 million people.
HS2 has meant that regeneration in UK cities can come at a much faster rate.
HS2 will come to Birmingham in the form of Curzon Street Station, the first new intercity terminus station built in Britain since the 19th century.
Alongside the travel benefits it will bring (it will take 41 minutes to reach Manchester rather than the current time of 87 minutes), HS2 will also act as a catalyst for further investment.
Birmingham City Council predicts the development potential in areas such as Eastside and Digbeth will lead to the creation of 36,000 jobs, 4,000 new residential property, 600,000 sqm of employment space, and £1.4bn economic uplifts.
- Manchester – HS2 time 40 minutes, current time 88 minutes
- London – HS2 time 45 minutes, current time 82 minutes
- Sheffield – HS2 time 49 minutes, current time 63 minutes
- Leeds – HS2 time 49 minutes, current time 118 minutes
- Newcastle – HS2 time 118 minutes, current time 172 minutes
- Edinburgh – HS2 time 191 minutes, current time 237 minutes
- Glasgow – HS2 time 200 minutes, current time 242 minutes
(According to HS2 in Birmingham)
Another headline project is Birmingham Smithfield.
Costing around £1.5 billion, the project, described as “once in a generation,” aims to completely transform the City Centre by reimagining 14 hectares of land in Digbeth.
Plans will see new retail markets, public squares, and transport facilities, along with 3,000 new jobs, 300,000 sq. m of floor space, and 2,000 new residential property.
Transport links have also seen a significant facelift in the area.
After the redevelopment of the busy New Street Station and Grand Central, the local government committed to an even bigger overhaul with the Midlands Metro Expansion.
Here, the project will create tonnes of new connections throughout the busy city with estimations in place that property prices could rise by 6% as a result.
Snow Hill Wharf and 105 Broad Street
In terms of property developments, there’s a lot going on in the second city.
The city is set to see a miraculous development over the next few decades with many plans in the pipeline, including Soho Wharf, Paradise and Arena Central developments.
Paradise is making major progress as a new office development. It follows in the successful footsteps of the largest office scheme outside of London, Snowhill.
There’s also major housing and residential developments in the city.
Notably, there is Snow Hill Wharf, a set of canal-side apartments, and 105 Broad Street. These two luxury projects are getting investors incredibly excited across the UK.
Birmingham has already been marked as one of the most exciting regeneration areas in UK 2018, 2019, and 2020. But with several developments in the pipeline, the foreseeable future is incredibly exciting for landlords in the region looking to invest in property.
Birmingham will also be hosting the 2022 Commonwealth games, so there is even more to keep an eye on.
Urban regeneration in UK cities is incredibly important, and Birmingham has been transformed with a strong cash investment.
Currently, the average house price in the area sits at an incredibly reasonable £199,053 – a 5.49% growth over Q1 2020.
For landlords and investors, the Birmingham area has a tonne of potential. And with house prices set to rise by 24.0% over the coming years, you can expect strong capital growth for the future.
The prospect of HS2 in the UK is incredibly exciting as it means that regeneration in UK cities can come at a much faster rate.
- South Bank Leeds
- Leeds General Infirmary
- The Majestic
Another Northern place on this list, this Yorkshire city is seeing some colossal regeneration schemes that will radically change the area.
Appearing at number four on the top 10 cities with the most regeneration opportunities, Glide found that 12,859 empty dwellings are waiting for investment.
Leeds City Council is certainly taking notice of this, with several ambitious projects in the pipeline.
South Bank Leeds
The main project on the horizon is the South Bank Leeds regeneration project.
Claiming to be the most significant change the city has seen in over 100 years, over 250 hectares of land are set to be regenerated south of the River Aire.
To put this into perspective, that is the equivalent of 350 football pitches being regenerated, which will nearly double the size of Leeds city centre.
It is estimated the project will create over 35,000 jobs and over 8,000 homes, and will encompass exciting projects like Lisbon Square.
Leeds General Infirmary
Along with this, Leeds General Infirmary is set to see a £450 million cash injection with the building of two brand new hospitals.
The plans for state-of-the-art adult and children’s healthcare facilities have been described as “transformational” and “phenomenal.”
The new facilities will provide 92,000 square metres of health care space spanning 15 storeys.
Part of the NHS’s Hospitals of the Future Programme, the scheme has received government backing and has access to a share of a £2.7 billion pot.
Future Leeds Regeneration Projects
There are plenty of projects currently ongoing in the Yorkshire city.
The 38-storey Altus House is set to open in 2021.
Formerly the office building Hume House site, the new skyscraper will be the tallest building in Yorkshire at 114 metres high.
Altus House will become student accommodation and will offer 752 bedrooms and flats, along with common areas.
Likewise, The Majestic is also opening. The 66,000 sq ft Grade A office space is found in City Square and will be the new home of Channel 4’s national headquarters.
Transport is also set to see a significant overhaul with a much-needed revamp of Leeds City Station.
Estimated to cost over £3 million, the transport hub will see the creation of new pedestrian areas as well as a complete transformation of the main concourse.
Further regeneration is expected after Leeds City Council secured over £18 million from the Getting Building fund.
These projects include an £8 million transformation of City Park, a £7 million development of the Temple Green Park and Ride, along with £2.6 million on the renovation of homes in the Holbeck area.
These are just some examples of the great work going on in Leeds, and with a bid to become the European Capital of Culture in 2023, Yorkshire is quickly becoming one of the best UK regeneration areas.
For landlords, Leeds and Yorkshire have the second-highest predicted growth rate in the UK.
According to Savills, you can expect capital growth of 28.2% by 2025. The only location higher is the North West!
If you want to start a buy to let investment, Yorkshire is a good destination to consider.
- Business Growth Programme
- Bradford One City Park
- Bradford City Village
Continuing our list of regeneration areas in UK areas, we have Yorkshire’s neighbour, Bradford.
With an estimated population of over 530,000, the city was 5th in the list of areas with the most regeneration opportunities, with much vacant commercial space.
Urban regeneration in the UK is incredibly high, and places like Bradford show how important it can be.
Regeneration in UK regions like Yorkshire is vital, and there are currently 15 projects in the pipeline.
After sending off a planning application, Bradford secured a £52.6 million pot from the Government’s £900 million Getting Building Fund, allowing many projects to start their development process and supporting the regeneration of areas in the UK.
Described as integral to the West Yorkshire economy, the following schemes will create 2,300 new jobs and safeguard a further 500.
The eye-catching projects consist of the Business Growth Programme.
Around £7 million of the fund will be given to this programme which aims to help 175 businesses recover from lockdown and the COVID-19 pandemic.
It will also create 800 new jobs and safeguard a further 200.
Another project is expanding Enterprise Zones at Parry Lane.
This project will extend existing sites and open more land for commercial space and commercial property.
It’s estimated 400 jobs will be created upon completion.
A further £7.5 million will be given towards Bradford One City Park, which will create new office space in the city centre and bring a total of 752 jobs.
These projects will no doubt allow town centres to thrive.
Other projects include the Bradford City Village scheme.
Entering phase 1 of a 10-year plan, the city centre will be revitalised by creating 1,000 new homes and 400 new jobs.
The outdated market hall is also set to be replaced in a scheme that will use £3 million of the fund.
Likewise, £7.4 million will be used towards the Temple Green Park and Ride Expansion, which will create 400 parking spaces and will reduce congestion and air pollution in the city centre.
Overall, there’s plenty of examples of a regeneration scheme in Bradford, and this will no doubt continue for the future, with more residential and commercial property on the horizon.
Thanks to the new government scheme supporting the regeneration of areas in the UK, Bradford is poised to become one of the better regeneration areas in UK 2021.
- The Lexicon
- The Deck
- Princess Square
There are many regeneration areas in the UK, but perhaps an unexpected entry on this list is Bracknell.
With a population size of around 120,000, the town has seen staggering investment levels, with the town centre being transformed into a vibrant site thanks to a multimillion-pound project.
The town started with a modest investment, with a £6 million Waitrose store on Bond Way in 2011.
Fast forward to 2017, and Bracknell was transformed with the completion of The Lexicon, a state-of-the-art £240 million shopping centre.
With the opening of 70 new retail and food stores, a 12-screen cinema, and two 80,000 sq. ft stores housing Fenwick and Marks and Spencer, Bracknell was catapulted into one of the UK’s top regeneration hotspots.
The Lexicon also offered 3,800 car spaces with new and upgraded car parks.
This regeneration in the town has been noticed nationally, winning many accolades such as the Development of the Year at the Thames Valley Property Awards 2018.
The opening of The Lexicon, Bracknell, confirmed Bracknell as one of the greatest regeneration areas in UK 2017.
A shopping centre such as this often brings new development opportunities, and since then, there has been even more regeneration.
Recently, in a development worth £124 million, Market Square, Coopers Hill, and Jubilee Gardens are currently being worked on, including the introduction of 400 new homes.
These examples of urban regeneration in the UK will help Bracknell grow immensely.
Likewise, The Deck, a new area of The Lexicon and a state-of-the-art public space filled with shops and restaurants, will mark the next major milestone in Bracknell’s development plan.
The Deck will connect to Princess Square, which is also seeing sizeable investment.
Costing around £30 million, Princess Square will see new escalators, toilets, and seating for shoppers.
Looking towards the future, there is plenty to get excited about when it comes to Bracknell.
Its new state-of-the-art public spaces will no doubt catch the eyes of many, and the town is a strong example of regeneration areas in the UK.
As one of the greatest regeneration areas in UK 2017, Bracknell has gone from strength to strength and has a bright future ahead of it in 2021 and beyond.
House prices in the area can get pricey, with averages currently sitting at £338,738
- Sheaf Valley
- Heart of the City 2
- St Paul’s Tower
The third Yorkshire city on this list, the area has suffered heavily as a consequence of industrial changes.
Like many northern areas, though, funds are starting to be funnelled into the region to see the area thrive.
In one of the biggest council-led redevelopment schemes, the flagship redevelopment plan for Sheaf Valley involves a massive £1.5 billion investment.
The project will see the Sheaf Valley area wholly transformed.
Plans include moving a dual carriageway and demolishing the Park Square roundabout.
The site will then be revitalised with new offices, leisure facilities, and public spaces.
There will be a pedestrian bridge added to the area and up to 12 office blocks, which has been predicted to employ 3,000 people.
There will also be up to 1,000 flats and new homes.
The plan is set to span two decades, but progress has already been made with plans to build 300 high-end flats, which is expected to create 200 construction jobs and 30 more permanent roles.
Heart of the City 2
There is also the Heart of the City 2 plan to consider.
The first Heart of the City master plan was incredibly successful, and regenerated key areas like Peace Gardens and the Winter Garden, as well as providing restaurants and needed Grade A office space.
Notably, the project helped regenerate St Paul’s Tower, which is the tallest residential building in the city.
Following this success, a sequel to this great master plan has been announced, which is set to span 1.5 million sq ft. and could help generate between 5,000 and 7,000 jobs.
This project provides £470m for new hotels, shops, and public spaces for the area around Pinstone Street.
Overall, this will undoubtedly further bolster the already thriving Sheffield region with work touted to be finished by 2024.
Further Regeneration in the Area
New businesses are also starting to be attracted to the area as a result of these ambitious plans.
John Lewis and Radisson Blu are both moving to the area, while law firm CMS is moving to a new office development called Grosvenor House.
Grosvenor House is already home to HSBC, continuing Sheffield’s strong business backbone.
For landlords, the area has seen some considerable growth over the years.
House prices are currently around £191,303, according to the UK House Price Index.
This is a growth of over 254.7% since 2001 – one of the highest growth levels in the country.
And with a further 28.2% growth expected by 2025, Sheffield could be one the best regeneration areas in UK 2021.
- Bristol Temple Quarter
- Temple Gate Scheme
Transport links in Bristol city are set to receive a much-needed overhaul, along with housing projects and enterprise projects that will help the local economy boom.
Coming from the Bristol city council, the main project to look out for is the Bristol Temple Quarter redevelopment plan.
The comprehensive plan is set to completely revitalise Bristol with new offices and research and learning spaces for the University of Bristol.
A mixed-use residential scheme is also in the pipeline, which aims to supply 371 new homes.
Plans aim to help students of all ages.
There will be a new secondary school and sixth form developed by the Department for Education, containing 1,600 places for pupils.
Accommodation for 693 students will also be built. The project is set to cost £375m for the first ten years and create 4,335 jobs.
Bristol Temple Quarter will also feature the Temple Gate scheme, which aims to improve thousands of people’s journeys through the area.
This includes new pedestrian and cycle routes and better public transport facilities. Urban regeneration in the UK is important, and these developments will help those living in cities travel safer.
Speaking of transport facilities, Bristol city council have ambitious plans to revolutionise public transport in the area.
With Metrobus, visitors will be able to “buy before you board.” This means passengers can buy tickets, plan journeys, and view information for services at iPoints, terminals found at bus stops in the area.
- Gateway Development
- Intu Broadmarsh
- Island Quarter
A contender for one of the best regeneration areas UK is Nottingham.
Found in the Midlands and home to over 330,000 people, Nottingham has seen its fair share of investment over the years.
The area behind the Robin Hood legend has got several current ongoing projects and further projects in the pipeline worth billions.
Nottingham’s headline project is the multimillion-pound Gateway development, which will see the Broadmarsh area transformed.
Part of this development is Nottingham College’s new City Hub campus.
With a 200-seat theatre, a gourmet training restaurant, classrooms, and social spaces, the City Hub cost £58 million.
Another development comes at Nottingham Castle.
A total of £29.4 million has been invested back into the site with landscaping work and a new visitor centre to revitalise the area.
Work is also being done to create a new Broadmarsh car park, which will provide over 1,200 parking spaces.
Coupling that with developments for shopping in Broadmarsh, it seems like Nottingham is about to thrive.
Nottingham Science Park, located opposite the University of Nottingham, has also been developed.
A new research and development area has been born with a three-storey building featuring Grade A office space.
There are also plans for a vast £650 million regeneration project for the Island Quarter.
The first phase will see the development of a three-storey 2,000 sq. m pavilion located on the waterfront.
The home of Robin Hood is about to see a fantastic makeover for future generations.
- Milburngate Redevelopment
Located south of Newcastle upon Tyne, this city was number six in Glide’s list, with 8,903 vacant properties.
The city has seen plenty of investment over the years and has been transformed from a “sleepy cathedral city” into a thriving nightlife and leisure location.
Undoubtedly the most prominent project, the £150m Milburngate redevelopment, is making headlines for its ambitious plans.
Described as a waterside transformation in Durham’s Northern Quarter, these plans will see new luxury apartments built on the former site of a passport office.
Located near the River Wear, the area is also set to feature offices, restaurants, and bars.
Town centres will no doubt thrive with an investment such as this.
Overall, the site spans 450,000 sq ft of mixed-use space, with 60,000 sq ft of retail and leisure space, 230,000 sq ft of office space, 600 car spaces, and 153 luxury apartments.
There is also set to be a flagship 92-bed Premier Inn hotel.
It looks like Durham may soon become the best place for an evening out in the North East and is another example on this list of urban regeneration in the UK.
With fantastic nightlife opportunities, Durham and the North East is a prolific spot for students.
If you want to invest in student property, Durham may be a top area to consider for landlords to invest.
Why is Regeneration Vital for Property Investors and Landlords?
With so many areas being regenerated UK, it’s important to understand exactly why regeneration is so important if you’re a property investor or a landlord.
Generally, regeneration makes a city more appealing to live in.
With the creation of new commercial space, new jobs can be offered.
Likewise, new transport links can make it easier to live in the location, and green spaces can make living in an area more appealing.
This can have a significant impact on the property market.
You only have to look at cities like Manchester to appreciate what regeneration can do to the property sector.
Manchester property prices over the last 20 years have increased by a staggering 344.59%, rising from £44,813 in Q1 2001, to £199,235 in Q1 2021.
This growth is a direct consequence of regeneration projects in the UK.
Investing in emerging locations set for a tonne of future regeneration can also make a lot of financial sense.
After all, by buying in emerging economic areas, you can get prices considerably lower than the UK average.
Take Liverpool vs London, for instance.
While Liverpool is certainly a major city, property prices here are still very affordable, with averages of just £152,974, according to the UK House Price Index. That’s nearly £100,000 below the UK average.
On the flip side, London prices are valued at £675,309 in 2021.
This is a perfect example of investing in an affordable area that has a huge scope for growth.
After all, prices in the North West are set to rise by 28.8%, while London will rise by just 12.6%
Keep this in mind when evaluating the future potential of this list of regeneration areas in UK towns and cities.
Interested in Regeneration UK and Want to Invest? RWInvest Can Help
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