10-Year Masterplan Could Boost Liverpool Property Investment Market

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Regeneration Potential Abound in Liverpool City Centre As Per Upcoming Masterplan

Liverpool City Council assigned consultancy giant Deloitte the responsibility of drafting a 10-year masterplan for the city and initiating a new phase of investment and development.

Deloitte and another consultancy, Planit, will collaborate on the document. The goal is to realise the city council’s vision of a multi-billion pound investment boom to elevate Liverpool into one of the UK’s major economic powerhouses.

Let’s look at the masterplan in more detail and see what it means for buy-to-let property investment.

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What You Need to Know About the Liverpool 10-Year Masterplan

Following the announcement, Liverpool City Council said: “This vision document, to be launched in the summer, will align key development and infrastructure opportunities to industrial and economic synergies in a bid to bring forward development in a comprehensive approach, with placemaking at its core.

“A key focus of the work will be to identify key development sites in the city’s development pipeline, which will be used to inform a place-based approach to regeneration. Planit will support this element by providing urban design, planning and architectural input to the strategy.”

Addressing the chronic shortage of quality office space in Liverpool’s central business district will be a priority. An Avison Young report highlighted the city’s severe undersupply of quality space. Two potential office schemes, Pall Mall and Princes Dock, could offer new grade-A office space. However, investors are hesitant to build speculatively due to headline rents hovering just above £25 per sq ft.

Deloitte partner Simon Bedford said the following about the drafting of the masterplan: “Liverpool is setting out its stall for the next decade. Having developed and delivered materially on the last city-wide investment strategy the city produced in 2011, the intention here is to map out a future plan that captures all the positive attributes the city has to offer such that it can embark upon a new chapter.

“It’s a very positive step forward, and we look forward to working with a wide variety of stakeholders over the coming months to ensure that the framework delivers on the city’s restated ambitions.”

Deloitte’s work will be informed and supported by the city’s existing Local Plan, which predicts Liverpool’s population will grow by more than 45,000 by 2034.

Discover More: Check our guides on buy-to-let Birmingham and buy-to-let London for more property insights.

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What Other Plans Are There for Regeneration in Liverpool?

A significant aspect of Liverpool’s forthcoming makeover revolves around the Liverpool Waters regeneration initiative. This extensive project is set to overhaul the city’s northern docks and adjacent regions, with plans to take place over 30 years. Planning permission has been secured for 60 hectares of land, with an estimated cost of £5 billion.

The venture encompasses various features, including Everton’s upcoming stadium, the Isle of Man Ferry terminal, the UK’s inaugural public floating sauna, and new residential and commercial areas.

A £1 million contract is up for grabs to create a vision for the redevelopment of Liverpool Central station and its surroundings and to tackle network capacity problems around the station. The submission deadline is April 18.

The project aims to improve the city centre and enhance links between the core and nearby areas like the Knowledge Quarter and Baltic Triangle, which have undergone successful and substantial regeneration.

The contract for the Liverpool Central project will be awarded in May. More elaborate regeneration proposals are anticipated next year as plans progress.

What does this mean for property investment? Buy-to-let investors often look to areas with plenty of regeneration potential. The aforementioned Baltic Triangle is a testament to how popular areas can become following substantial investment.

As such, investors may want to consider property developments in Liverpool city centre and surrounding areas, anticipating the potential economic and capital growth these plans may bring. The likes of the Gateway development in Liverpool’s Pumpfields zone is one such opportunity, available to purchase off-plan as of 2024. This development was inspired by New York apartment buildings and boasts eco-friendly tech and features.

With more job opportunities heading to the city following extensive regeneration, Liverpool will become an even more desirable place to live, attracting tenants to the city centre in search of convenient homes close to their workplaces. Buy-to-let investors can expect substantial yields in such locations, while capital appreciation may also be high as property prices increase in those desirable areas.

For more information on Liverpool property, check out some of our local area guides: