Health & Life Sciences Investment Will Supercharge Liverpool Economy

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How Will a Boost to Liverpool’s Science Sector Affect the Local Property Market?

Liverpool is one of the top UK cities for the health and life science sectors, and according to new announcements from the Liverpool City Region Combined Authority, this status is set to be cemented with further investment in these industries.

The city has already shown great potential and has had incredible achievements in these sectors. The Liverpool City region is home to the UK’s largest concentration of specialist hospitals outside London. It’s also a leader in clinical trials. The Speke Pharma Cluster is one of the continent’s biggest biomanufacturing centres. It boasts the country’s largest vaccine facility and some of the world’s leading pharmaceutical names, such as CSL Seqirus and AstraZeneca. The fact that the city region, combined with nearby Cheshire and Warrington, delivers £2 billion of infectious disease research and development annually is another impressive feat.

So, what’s in store for the future of this exciting industry in Liverpool, and how will this affect the buy-to-let property for sale in the area?

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Liverpool, UK - December 16, 2022: Science Park building in the Knowledge Quarter Innovation District, Mount Pleasant

Ten-Year Investment Zone Announced for Liverpool Science Hotspots

The plans announced by the Liverpool City Region Combined Authority will target various key areas around Liverpool. They were developed through collaboration with Liverpool’s life sciences sector, including the University of Liverpool. The aim of these schemes is to attract £800m investment, boosting the local economy while also achieving the admirable goal of saving lives worldwide. In order to do this, the plans involve creating new high-tech facilities while training the next generation of talent. The Investment Zone will run for 10 years.

Major developments are proposed at Maghull Health Park, St Helens Manufacturing and Innovation Campus, Earlsfield Park Knowsley, Sci-Tech Daresbury and at the burgeoning Knowledge Quarter in Liverpool City Centre.

Mayor of the Liverpool City Region, Steve Rotheram, said: “With up to £800m of investment and thousands of quality, high skilled jobs on offer, the Liverpool City Region Innovation Zone is an important tool in our arsenal to position our area at the head of UK science and innovation.

“But in the Liverpool City Region, we’re proud to do things differently. Throughout the development of our Innovation Zone, I have been clear that any investment in our area must go further than purely financial incentives. I want to use our status as a force for good, to connect our residents up to secure, well-paid jobs and training opportunities, and attract transformational investment into our communities. Becoming an innovation superpower is a lofty ambition – but I firmly believe that, if anywhere has the potential to achieve it, then it is the Liverpool City Region.”

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Major Developments Proposed for Liverpool’s Knowledge Quarter

Three of the Investment Zone’s significant contributions will occur in the Knowledge Quarter. The Knowledge Quarter is a regeneration zone in Liverpool City Centre, and it’s home to many of the city’s universities and colleges, as well as research and health institutions.

Liverpool City Council’s flagship regeneration scheme for the neighbourhood is the creation of two new buildings to provide additional laboratory space to boost the area’s world-leading infection innovation capabilities. HEMISPHERE One and Two, two multi-storey high-tech new-builds, will be located in Paddington Village.

The University of Liverpool’s world-first Centre of Excellence for Long-acting Therapeutics (CELT) and the Civic HealthTech Innovation Zone (CHI-Zone) will be expanded thanks to the Investment Zone funding. The Pandemic Institute will also be supported in developing plans to tackle emerging infection and pandemic threats.

Another project hitting the Knowledge Quarter will enhance the Liverpool School of Tropical Medicine. New high-containment Category Three labs fitted with leading-edge robotics and AI technology will be built for use by the Infection Innovation Consortium.

What Does This Mean for Liverpool’s Property Sector?

Regeneration is always exciting news for a city’s property scene. As Liverpool grows and benefits from redevelopment efforts, the city will become more attractive to renters. Regeneration is a key consideration when searching for areas with the best rental yield in the UK.

In particular, these schemes will boost the local economy and are estimated to create 8000 jobs. Job creation and a strong economy will bring more buyers, sellers, and renters into the local property market, impacting capital value growth, rental price inflation, and demand.

The Knowledge Quarter is currently a hot location for property investment. Home to many of Liverpool’s students and young professionals, these proposals will help create an even more robust demand for this developing buy-to-let hotspot.

To learn more about UK property investment, take a look at some of our latest area guides covering topics such as investment property available in Cambridge and Winchester investment properties.

Author

Jessica Ferris

Jessica is a property content writer at RWinvest. Keeping a close eye on the UK property market, Jessica helps our readers stay informed and up to date on the latest market news and statistics.