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25 Mar, 2022

4 UK Properties That Are Perfect For Young Professionals in 2024

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    How to Attract Young Professional Tenants to Your Investment Property

    If you’re investing in property, 2024 is a perfect time.

    For those looking to invest in apartments within residential property developments, there’s one key target tenant that buyers need to cater to — the young professional tenant.

    The definition of young professionals is subjective, but generally, young professionals are classed as somebody who is in full-time post-graduate employment and between the ages of 20 to 35.

    When looking for an investment property that will appeal to a young professional tenant in the UK, there are different qualities you should pay attention to.

    To help aid your buy-to-let purchase, we’ve rounded up four fantastic investment opportunities available for 2024. All of these properties are not to be missed if you want to attract high demand from young professional tenants.

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    Heaps Mill

    Heaps Mill is a new residential property development based in Liverpool City Centre. This off-plan development is built within a renovated rice mill and is set to be a huge hit with young professionals in Liverpool.

    One Park Lane and Rice Works are separate development skyscrapers that are part of the Heaps Mill project, while The Mill is the core building within the project and offers some amazing facilities and excellent investment potential.

    The development is based within walking distance to the Royal Albert Dock, LiverpoolONE, and the Baltic Triangle. Heaps Mill is developed by the industry-leading property development company, Legacie.

    Aside from being incredibly well-located with easy access to all of Liverpool’s top attractions and amenities, Heaps Mill boasts some impressive onsite facilities.

    Residents of Heaps Mill will gain access to:

    • A fully-equipped onsite gym.
    • A spa, lounge, and treatment rooms.
    • A rooftop cafe and landscaped square.
    • Onsite commercial spaces and a museum.
    • A 24-hour concierge service and exclusive tenant app.

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    Why Is Heaps Mill Good for Young Professional Tenants?

    Young professionals are increasingly focusing on luxury amenities and facilities as important features of their rental accommodation.

    Average salaries in the UK are reportedly increasing, and those who have the cash available to spend more on rent are choosing to do so when it means accessing amenities like an onsite gym and spa.

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      Embankment Exchange

      Based in Manchester, Embankment Exchange is an unmissable property investment opportunity for investors looking to cater to growing numbers of young professional renters in the North West.

      Located in the top regeneration hotspot, Greengate, this development is set to be a hit with young professional tenants that favour a good location, stylish design, and fantastic amenities.

      Like Heaps Mill and ELEMENT – The Quarter, Embankment Exchange benefits from some luxury facilities that make this development truly stand out. These include:

      • A state-of-the-art spa.
      • An onsite gym that overlooks the river.
      • Remote working booths.
      • A resident-only lounge and bar.
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        Why Is Embankment Exchange Good for Young Professional Tenants?

        Remote working is more popular than ever before, after rising in prevalence since the beginning of the Covid-19 pandemic back in early 2020.

        Research covered in Buy Association revealed that due to remote working, around 44% of the younger generation are reconsidering what they want from the place they live.

        People now value having dedicated space to work from home, and developments like Embankment Exchange, which feature remote working booths, are ideal for young professional tenants in 2024.

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          ELEMENT - The Quarter

          ELEMENT – The Quarter is the North West’s first-ever eco-development, based in Liverpool. With some amazing high-tech facilities that boost sustainability, this is the perfect investment for those looking to target eco-conscious young professionals.

          This property development is located in the Knowledge Quarter in Liverpool, which allows easy access to numerous universities and hospitals.

          Aside from the amazing eco-friendly facilities within ELEMENT – The Quarter, residents also gain access to the following:

          • An onsite games room, cinema room, and breakout areas.
          • A dedicated remote working area.
          • An onsite gym.
          • An onsite launderette.
          • Electric car charging points and a resident’s car-sharing scheme.
          Element the Quarter

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            Why Is ELEMENT - The Quarter Good for Young Professional Tenants?

            The world is becoming more and more eco-conscious, and young people are particularly focused on living environmentally-friendly lifestyles.

            Young people are reportedly 10% more likely to spend more money on products that are sustainable, according to a 2019 study from Forbes.

            With this in mind, an eco-friendly property like ELEMENT – The Quarter is the ideal place to live for young professionals in the North West.

            Not only this but onsite facilities like a dedicated remote working area boost the appeal of this development even further, with working from home having become the norm over recent years.

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            The Hive

            Last but not least, the Hive is an exciting new development based in Luton. Prices for an apartment in this development start at just £179,950, which is highly affordable for the area considering Luton is located so close to London.

            Stylish development is perfect for young professional tenants looking for a temporary place to live that is close to transport links, local bars and restaurants, and local amenities.

            Here are some of the key features of The Hive:

            • Private terraces for residents to enjoy
            • Onsite parking and bike storage
            • 24-hour security and a concierge service
            • A residents’ only app
            • Transport links connecting residents to London in a matter of minutes

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              Why Is The Hive Good for Young Professional Tenants?

              The location of the Hive is what makes it really stand out as a property investment opportunity for those who want to target young professionals.

              London is one of the UK’s most popular cities for young professionals to live and work in. This is due to the range of business opportunities in the capital.

              The main issue, however, with working in London, is the high rental costs associated with the region. Many young people are now choosing to live on the outskirts of London in commuter towns such as Luton to take advantage of lower rental prices.

              With the popularity of remote working, many people no longer need to spend five days a week in the office and instead will choose hybrid working, which allows them to work remotely on set days of the week.

              The Hive allows investors to take advantage of the high tenant demand from those working in London, without having to pay London prices. For this reason, the Hive is an excellent investment opportunity to consider in 2024.

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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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