Liverpool’s Regeneration is driving up property prices.
The Transforming Face of Liverpool is Fuelling Increased Property Prices
If you were to visit Liverpool 10 years ago, most people would say that the city today is barely recognisable. The extent of which the city has transformed is quite amazing. In this article we take a closer look at the extent of the regeneration and outline some of the key projects proposed and already underway in Liverpool, that are destined to have a favourable effect on Liverpool’s property market. Throughout the 1990’s Liverpool was one of the most deprived cities regarding funding. Whilst neighbouring cities such as Manchester enjoyed significant investment, Liverpool was mostly ignored, and its reputation emerged mainly from political uncertainty and strikes. Fast forward 15 years the story was somewhat different. New leadership, significant investment from property developer’s into its regeneration as well as winning the European City of Culture has breathed new life into Liverpool.
Liverpool Vision, the company spearheading much of the regeneration taking place in Liverpool is Liverpool Vision. Having completed a number of regeneration projects in the past some of which are listed below, the organisation also has a number of big projects planned in the future with Liverpool set to benefit from a further £6bn investment over the five years and that’s not mentioning the circa £5bn invested previously up to now on projects such as:
- Liverpool One, a £920m investment to redevelop 42 acres of land to create the UK’s largest open-air shopping centre.
- Albert Dock Redevelopment, a £200m project to regenerate the Albert Dock in the late 1990’s from an unused mill into upmarket bars and restaurants.
- New Kings Waterfront, a massive redevelopment scheme on Kings Dock Mill of new apartments, the echo exhibition centre, a new hotel and other attractions.
As well as the projects that have already been done there are many huge projects planned for the next five years that really are destined to put Liverpool on the map and gain global recognition. Some of these are:
- Knowledge Quarter, a £1bn investment that will be home to some of the world’s biggest players in science, health, technology, culture, and education
- Ten Streets, A vibrant creative quarter that will drive future prosperity and enhance the city’s status as an international destination
- The Anfield Project, A Partnership between the Council, Liverpool Football Club, and your housing group to recreate the Anfield area. A £260m investment that set to see new houses, refurbishments, an expansion to Liverpool football stadium as well as new roads.
- Liverpool Waters, Perhaps the biggest regeneration project of them all will see a planned £5.5bn spent on regenerating 2km of waterfront along the River Mersey. New residential schemes, commercial schemes, and a new port will see the entire waterfront along this stretch regenerated
All the regeneration is having a positive effect on property prices. The city is attracting more and more students, more talent and more and more businesses are starting up as a result of all of the regeneration. All of this is placing further stress on the availability of property in Liverpool’s city centre both to rent and to buy.