5 Reasons why property investors should choose Stoke-on-Trent/Newcastle under Lyme.
Now is the ideal time for property investors to be considering Stoke-on-Trent/Newcastle under Lyme as the perfect location for long term investment. We are excited to see so much innovation and development going on in the area that we wanted to share this with you. Below are the top 5 reasons we believe that investors should be starting up or expanding their property portfolios.
No 1 - Major New Developments
One of the UKs most creative and active developers Capital & Centric is investing in Stoke-on-Trent. The project will see the redevelopment of the Swift House site being transformed into The Goods Yard.
The present building will be demolished, but the secret vaulted basement will be opened up to the public and serve as a workspace and leisure venue - there is also talk of a waterside restaurant and bar.
The Goods Yard will be easily accessible as it is located right next door to the train station and is on the doorstep of Staffordshire University, the Trent and Mersey Canal and the A500. There is even talk of creating a water taxi to Stoke City’s bet365 stadium just a mile away. The location is perfect to attract commuters, students and businesses.
In addition to 25,000 sq ft of workspace and 10,000 sq ft of retail and leisure space the site will also create 180 new homes and a 150 bed hotel!
Over the years Stoke-on-Trent has undergone considerable regeneration and improvement and as we are seeing, investment to the area is set to continue which is making the city more appealing and a hot spot for property investment opportunities.
No 2 - Stoke-on-Trent could be the Home Office’s “Second Home”
North MP Jonathan Gullis is calling on the Home Office to relocate jobs to Stoke-on-Trent and make the city its second home. Scoping is already underway to find the department a second site.
The Government has confirmed that they are looking for long term plans and will be sharing their proposals for new locations in due course. Other departments have already announced plans to set up new branches outside of London as part of the Places for Growth initiative.
The site in mind is The Potteries as it will be one of the first places to have a full fibre gigabit broadband network. If Stoke-on-Trent is selected it will bring well paid jobs and investment to the area. Watch this space - We are keeping our fingers crossed!
No 3: Stoke-on-Trent is named on of the top 15 places to start a business
A recent survey showed that 39.3% of start up businesses in Stoke-on-Trent survive longer than 5 years, this compares to 37.5% in Manchester and 38% in Liverpool.
Perhaps one of the reasons for success is that the survey also highlighted that Stoke-on-Trent’s ceramic heritage and canal network has contributed to a boost in tourism in the city - making it desirable for new entrepreneurs.
We have already touched on investment of new workspaces being developed in the city, but another attraction for start ups is the Innovation Enterprise Zone run by Staffordshire University. The University has secured £11 million funding for businesses over the past 3 years and has made significant investments in order to provide access to leading-edge facilities, expertise and the adoption of higher skills for businesses that are making a difference by growing through innovation.
Aside from all of the exciting developments and investments taking place that make the city an ideal place to start a business, there is a real buzz around Stoke-on-Trent and Newcastle under Lyme. There is a thriving sense of community and networking events take place regularly that provide valuable support for new business start ups. As we all know local help goes a long way.
No 4: Transport Links
Probably one of the most exciting transport updates for Stoke-on-Trent is the connection to the High Speed Two (HS2). The high speed railway is already supporting over 15,000 jobs and securing investment for The Potteries - several years before the line even opens, which is scheduled for the end of the decade.
Construction has started on the first section of HS2, which connects London and the West Midlands, and includes a new junction for direct services to Stoke. Over 100 businesses are working on the project based in Staffordshire and Cheshire.
Stoke is the capital of the Constellation Partnership, a new commercial hub for Staffordshire and Cheshire supercharged by the arrival of HS2. It will create at least 120,000 new jobs and build 100,000 new homes by 2040, which will translate to an annual growth of £6.4 billion for the region’s economy.
To build on HS2’s improved transport links, the city has secured £29 million from the Government’s Transforming Cities Fund to create significant improvements in the area around Stoke-on-Trent train station. A new transport hub will offer commuters and visitors better access to taxis, buses and cycling, alongside improved walking routes to and from the station all contributing towards better connectivity.
Another big investment and a massive bonus for the North is the A50 Growth Corridor Project. This is a really big moment for Stoke-on-Trent and a key part of the Powering Up campaign to support the economic recovery of the city through the Coronavirus. It’s going to unlock substantial inward investment, stimulate economic growth by opening up opportunities on currently unused land and deliver jobs for the city.
The A50 is the most important transport link between the East and West Midlands. The planned improvements will benefit major employers and their employees between Stoke-on-Trent and Derbyshire, making journeys quicker, easier and safer.
Work has started on a new multi-million pound link road which will unlock land for development – with the potential to create hundreds of jobs – and reduce congestion on the A500.
No 5: Employment
Stoke-on-Trent is home to some of the biggest employers in the UK. The Royal Stoke University Hospital for example is the city’s biggest employer with over 6000 staff. You could add bet365, Michelin, and wedgwood.
We have seen that new developments are creating more workspace for new businesses, new transport links have created new jobs and are also making it easier for people to commute to Stoke-on-Trent.
All of the above reasons means that Stoke-on-Trent is fast becoming one of the most popular locations to work. All of the investment being driven into the city just goes to show that investors are seeing big opportunities ahead.
Why landlords should invest now
We hope that having read through these reasons you can see why property investment in Stoke-on-Trent/Newcastle under Lyme should not be overlooked. Now is the perfect time for landlords to explore buy to let opportunities before prices rocket as the developments near completion.
We are already seeing the demand for rental properties rising which is why we urge you to act now to take advantage of the current climate and not to miss out.