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03 Sep, 2019

Enterprise and Innovation in the Baltic Triangle

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    Baltic Triangle: An Exciting Area of Liverpool

    Are you familiar with the Baltic Triangle in Liverpool? Renovated warehouses and art-covered walls lead the way to one of the most exciting and innovative areas in the city of Liverpool. Home to a number of creative and innovative businesses, and one of the city’s most prominent areas for investment, the Baltic Triangle has made a name for itself as one of the UK’s most cutting-edge districts.

    If you’re thinking of investing in the Baltic Triangle area and want to find out more about the potential behind it, this article on the Baltic Triangle will offer some insight. Want to find out more? Keep reading for our guide to Baltic Triangle enterprise and innovation.

    Liverpool, Merseyside, UK - Feb, 28 2021. Grade II Listed Bramley Moore Dock, Liverpool.

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      The Baltic Triangle’s Booming Digital Sector

      Liverpool’s Baltic Triangle has been on the cutting edge of the city for many years now. Not only is it creative and alternative, but it is also forward-thinking and modern, with an innovative digital and technology sector. The Baltic Triangle has become a hub for enterprise and is becoming one of the best locations for digital start-ups.

      Liverpool has recently gained the prestigious status of a ‘UK tech cluster’. This ranking means that digital industries are more likely to grow faster and provide higher salaries than in other areas of the country. A range of innovative and unique start-ups are flourishing in the Baltic Triangle business environment, especially in emerging technology sectors. As a result, Baltic Triangle jobs are abundant and eclectic. From video games to PR, small businesses are finding a home in this thriving post-industrial landscape.

      According to a recent Tech City report, there are currently an impressive 23,407 digital jobs in Liverpool. These highly skilled and innovative jobs are providing unique opportunities for digital professionals to grow and flourish in a dynamic community. The benefits of an innovative and prosperous digital career are enticing highly skilled workers to the region, which has inevitably led to higher demand for property in the area.

      There has been a significant £359 million digital gross value added and correspondingly 194 start-up births between 2011 and 2015, which shows that the Baltic Triangle is a perfect home for the digital sector. Substantial investment in the tech industry and the opportunities available for digital companies have had a widely positive effect, attracting other similar companies to the area.

      Mark Lawler, who is the Managing Director of Baltic Creative CIC, said to Getintothis website:

       “Liverpool’s tech sector is booming, with figures showing that digital jobs in the north are growing 10x the rate of non-digital jobs. Here at Baltic Creative, we are witnessing a huge demand for dedicated tech space.”

      The growing digital sector in the Baltic Triangle has played a vital role in establishing the foundations for a thriving modern community with a uniquely Liverpudlian twist.

      Liverpool / UK - March 22 2020: The Brewery Tap pub, Stanhope Street, Liverpool. Formerly Grapes Inn and Higsons Brewery.

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        Strong Educational Prospects in the Baltic Triangle

        Digital and tech companies require a highly specialised workforce, with specific skills and a complex understanding of the tech sector. Instead of trying to poach employees from other companies, Baltic Triangle business is implementing a long-term strategy to develop and grow skills in the area.

        Because of this, young people are being educated and inspired to take up future Baltic Triangle jobs. The Studio School in the Baltic Triangle offers digital pathway options like coding, entrepreneurship and creativity. The school is also collaborating with local businesses to provide internships, mentoring and career advice to potential digital workers. They also operate the Digital Entrepreneurs Network, actively encouraging young people to consider a career in the digital and tech sectors. The next generation of Baltic Triangle business leaders and innovators are being inspired and nurtured, and this forward-thinking approach will no doubt provide long-term investment in the Baltic Triangle.

        City of London at sunset and business network connections concept illustration with lots of business icons. Technology, transformation and innovation idea.

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        Who are the Businesses Occupying the Baltic Triangle?

        The success of the Baltic Triangle’s digital sector can be seen in the innovative and promising businesses who call the area home. Digital and tech companies based in the Baltic Triangle have gained international success and recognition.

        The Baltic Triangle hub and digital community has a growing collection of over 500 businesses and over 2,000 people. From web designers to recording studios to architects, large shared offices are encouraging collaboration and innovation. Buildings like Hub Squared, Baltic Creative, Flux Studios and Northern Lights encourage a varied and vibrant business culture. There are also a lot of micro-businesses and small businesses in the area, who are just starting out with huge potential to flourish.

        One great example of a thriving digital business is vTime – the world’s first virtual reality social network. It was born in the Baltic Triangle in 2005 and over the years has built up a talented and world-class team. The area is also home to a variety of software companies like Damibu, who specialise in digital health technology, Novoda, who have engineered digital products for international brands and Citrus Suite, who develop award-winning mobile apps.

        Milky Tea, a game development and animation production studio, opened in the Baltic Triangle in 2005. It has worked for some of the world’s biggest companies and has won almost all the major awards in its industry, including a BAFTA. Milky Tea was chosen by Creative England in 2017 as one of the top 50 up-and-coming, innovative and disruptive companies across the film, games and digital tech sectors. Its slogan ‘seriously playful’ uniquely captures the heart of the Baltic Triangle.

        A group of talented professionals at E-blueprint Digital specialise in web development, SEO and content production. Using the latest digital technologies, E-bluepint Digital lead the way in the Baltic Triangle for online marketing, helping other businesses in Liverpool to thrive and succeed. Another success story is Ditto Music, a music distribution service allowing artists to release their sounds to a global platform. With a number of offices located throughout the UK, their Baltic Triangle HQ blends technology, creativity and coolness to perfectly suit the surroundings.

        Man looking at three screens, digital

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          How Has The Baltic Triangle’s Innovative Business Scene Encouraged Investment?

          Due to the Baltic Triangle’s increasing reputation as one of the coolest neighbourhoods in the UK, demand for residential property has skyrocketed. Jobs in the tech sector are attracting young professionals from the millennial generation, who have been found to be far more likely to rent a property rather than own their own home.

          As mentioned earlier, salaries in the digital and tech sector are higher than the UK average, meaning that they have greater disposable income to spend on their rental accommodation. For property investors, this means that they can afford higher rental returns and higher-end properties. These young professionals are looking for modern, cutting-edge properties which offer excellent connectivity and fast WiFi speeds.

          The Baltic Triangle is perfect for this. Residents are increasingly looking for properties that provide solutions for wellness, sustainability and convenience. One Baltic Square is the perfect example of the modern, high-end apartments with a creative twist that people are looking for in the Baltic Triangle. Features like its roof gardens, open-plan design and location next to the popular Baltic Triangle are specifically designed with modern young professionals in mind. Another investment opportunity, Parliament Square, has proven very popular with buy to let investors from around the globe. Offering luxury, high-quality apartments for the Baltic Triangle’s residents, this development is set to become one of Liverpool’s most desirable rental properties.  Property in the Baltic Triangle is perfect for capital appreciation too, with significant price rises in the L8 and L1 postcode. This up-and-coming area with its booming tech sector and desirable tenant profile is perfect for property investment.

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          Reece Pape

          Reece Pape is a property writer at RWinvest. Reece is passionate about keeping property investors updated on must-have information and housing market news, utilising the latest property market statistics and data.

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