Earlier this year we published a blog highlighting the top five reasons to invest in property in Stoke-on-Trent. Well, we’re delighted to add a big whopping number six to that list…
Following Chancellor Rich Sunak’s budget announcement at the end of October it was confirmed that the government has set aside £56 million from its Levelling Up Fund for three regeneration projects in Stoke-on-Trent.
Now, here at Rockett Home Rentals we already deemed the region investment-worthy thanks to its University links and employment opportunities to name a few but this really is the icing on the cake for anyone looking to make a buy to let purchase in the area.
The £56m will be broken down as follows;
- £20 million for city centre regeneration area in Hanley
- £16 million for the transformation of Swift House into The Goods Yard
- £20 million for heritage building schemes in Stoke, Tunstall and Longton
The £20 million city centre project is expected to feature; a 3,600 capacity arena, a 144-bed hotel, over 1,700m2 of food and beverage outlets, 292 new apartments and seven townhouses and that’s not all of it!
The £16 million bid for to accelerate the transformation of Swift House to The Goods Yard was highlighted in our ‘top 5…’ blog and ultimately will see the present building demolished, but the secret vaulted basement will be opened up to the public and serve as a workspace and leisure venue.
Capital & Centric, the award-winning developer, has been appointed to deliver the £75 million project which is set to be an absolute game-changer for the area.
Some of their plans include; a new café named Signal Box which will be housed in what is currently a derelict Network Rail signal box, a canalside jetty to create a potential mooring point for canal boats and water taxis, a 150-bed hotel and The Goods Yard Living residential scheme which would feature 170 apartments for rent, and exclusive access to facilities including a café, bar and co-working space.
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. The location is perfect to attract commuters, students and businesses. Click here to check out a sneak peak of the first visuals drawn up of what the new development could look like once complete.
The third and final project was £20 million to be spent in the towns of Longton, Stoke and Tunstall to build more than 200 homes and new business spaces. The new developments will go on the former pottery sites of Spode and the Crown Works, and on the old library and baths in Tunstall. There’s just no stopping Stoke-on-Trent!
As mentioned in our previous blog, 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, all of whom will no doubt benefit from the latest budget announcement.
The success of the people is the success of the city so I’d say this is definitely worthy of being labeled as the seventh reason to buy property in the area – it’s going one way, UP!
Act now – if you want to secure a buy to let property in the area then now is the time. The city is entering a period of dramatic change and growth and that is only going to drive the prices of property upwards.