Luton Town Centre Set For £20 Million Regeneration Boost

Daniel Williams
Daniel Williams
Senior Property Writer
Updated 09 December, 2021
3 Min Read

Luton £20 million regeneration boost Luton £20 million regeneration boost

Ambitious regeneration plans for Luton town centre took a step up in 2021, after a successful bid for £20 million from the Department of Levelling Up. 

Announced in the Autumn Budget 2021 by the Chancellor in October, the cash injection has been welcomed by the council to use as part of their Luton town centre masterplan. 

Known as the Luton 2040 vision, the council announced the project earlier this year, which will see Luton town centre completely reimagined. 

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Luton Regeneration Plans 2022 Luton Regeneration Plans 2022

 

Nicola Monk at Luton Council said: “This announcement is great news for Luton town centre.  

“Improving the centre will generate further town-wide investment, as well as enhancing productivity, an inclusive economy, sustainability and greater well-being so that all our residents can thrive and no-one has to live in poverty.” 

Now following this successful bid, plans will see a multi-purpose development known as The Stage introduced into the town centre. 

The regeneration project will see the development of 372 new homes, additional retail and business space, an auditorium, and a cycle hub. 

This is not all you can expect for Luton in 2022 and beyond. Further plans will see work in the areas surrounding the famed Hat District, Luton station, and Luton town’s football stadium. 

The latter is set to see huge regeneration, with a new Luton Town Football Club stadium proposed that will seat 23,000. 

Luton Property Investment in 2021 Luton Property Investment in 2021

 

What Happened to Luton Investment in 2021?

These announcements will be welcome news for both Luton residents and prospective investors. 

The Luton property market is one of the worst kept secrets amongst UK investors, with more and more landlords looking at the opportunities in the area. 

Over the last 12 months, the average Luton property price has soared by 8.77%, according to Land Registry data. For context, this is higher than the likes of Manchester, Birmingham, and London.  

Thanks to its ideal location just 22 minutes from London, the Luton property market attracts a tonne of tenants looking to work in Central London without paying the sky-high rent in the capital.  

Luton was voted London’s best commuter town in 2021 and was also named the UK’s best buy to let location for three consecutive years by the LendInvest buy to let index. 

In fact, property investment in Luton town has been so impressive that it featured in our list of the best places to invest in property in 2021 and 2022. 

With ambitious regeneration on the horizon, it seems Luton property will continue to grow in value over the coming years, with predictions from Savills suggesting a 10.4% rise in prices by 2026 in the South East. 

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If you want to learn more about Luton investment news, then be sure to check out the latest buy to let news from RWinvest today. 

With guides to all things UK property, we are the number one spot for all your news and information needs. 

If you’re interested in Luton specifically, we have an amazing guide to Luton property investment in 2021 and 2022. 

Alternatively, you can check out some of our fantastic Luton investment properties like The Hive, brand-new residential apartments priced from only £179,950 with 75% of our stock already sold out. 

Act fast and secure your dream Luton investment today. 

Daniel Williams
Daniel Williams
Senior Property Writer

Daniel Williams is a senior property writer at RWinvest. Regularly publishing in-depth articles on topics such as the best investment areas in the UK and guides on how to invest, Daniel has a keen eye for statistics and analysing property market changes.