A global trading powerhouse of the 19th and 20th centuries, Liverpool has redefined itself in the new millennium as an innovative capital of culture and home to one of the UK’s fastest growing local economies.
Extensive regeneration and investment in Liverpool has seen a wealth of new educational, leisure and business opportunities become available in this thriving North West city, as businesses and tourists alike flock to benefit from all it has to offer.
As the city continues to grow, here are 5 reasons why you should consider Liverpool as the location for your next property investment:
Image: Museum of Liverpool
1 - The City of Culture
Liverpool is home to a wealth of iconic cultural landmarks that have helped to make the city a hotspot for visitors from around the world.
Liverpool is well-known as the birthplace of The Beatles, with hundreds of thousands of fans making the journey to Merseyside each year to visit iconic locations for the band, such as the Cavern Club, Albert Dock and Penny Lane.
The Albert Dock is home to the world’s largest permanent exhibition devoted to The Beatles, which attracts 250,000 visitors each year and has contributed with more than £300 million into the city’s economy since it opened.
Building on the city’s musical heritage, the Echo Arena was constructed as part of the redevelopment of Liverpool’s waterfront. The arena has hosted world famous artists and events, generating more than £1 billion in economic benefits for the city.
Liverpool is also known as the city in the UK with the most museums and galleries outside of London. The city’s rich cultural influence earned Liverpool the title of European Capital of Culture in 2008, leading to a sustained increased in tourism and Liverpool’s economy generating £130 million from 2003-2009.
Liverpool’s recognised cultural and historical heritage has helped to attract 33 million visitors each year, making it the 6th most popular UK destination for international visitors in 2014. In 2015, the tourism in Liverpool supported over 49,000 jobs and generated income in excess of £3.8 billion.
Image: University of Liverpool
2 - A City for Students
Home to three major universities and more than 53,000 students from over 100 different countries, Liverpool’s thriving student demographic accounts for 12% of the city’s total population.
Liverpool is the second most cost efficient city in the UK for students, making it a very attractive choice for those seeking higher education. The city also offers students great opportunities with three major universities located close to the city centre.
Part of the prestigious Russell Group, The University of Liverpool is ranked among the best universities in the UK for its high quality research and has seen nine Nobel Laureates pass through its doors. The university also attracts more than 25% of its students from overseas, a symbol of the institution’s international reputation.
The second largest university in the city is Liverpool John Moores University which welcomes 25,000 students from over 100 countries. The university is known to reach out to students from a disadvantaged background to ensure that everyone has a chance to benefit from a university education regardless of their social or economic background.
Increased interest in the city from students has also left Liverpool with an undersupply of student accommodation. According to Savills, there are 2.1 full-time students competing for every purpose built student bed in Liverpool.
The prominent undersupply of purpose built student accommodation has contributed to the student rent in the city increasing by 4.3% in 2015 – surpassing the UK average of 3.65%.
Additionally, the continued growth in Liverpool’s businesses means that there are extensive graduate opportunities in the city, with 6 out of 10 students electing to remain in Liverpool after finishing their studies.
Image: Liverpool ONE and Chavasse Park
3 - A Modern, Thriving Metropolis
Thanks to extensive investment and redevelopment, the city centre of Liverpool has been transformed into a cosmopolitan hub in the North West.
In the last decade, regeneration has changed the city’s skyline, with new retail, commercial and leisure developments.
Offering world-class entertainment venues, vibrant bars and restaurants, unique shopping opportunities and efficient transport links, Liverpool has emerged as one of the UK’s leading modern cities.
Liverpool ONE, the city’s flagship retail development, is home to over 160 high street shops, cafes, restaurants and boutiques – standing as one of the leading retail and leisure destinations in Europe. The largest outdoor shopping centre in the UK, Liverpool ONE attracts 33 million tourists each year.
The continued expansion of Liverpool’s city centre has been a key factor in the economic growth of the city, helping to create greater visibility for the city both nationally and internationally.
Image: Liverpool Waterfront
4 - An Economic Powerhouse
With more than 252,000 businesses and an economy worth more than £122 billion, the Liverpool city region is one of the largest in the UK.
According to Liverpool Vision, the city is at the centre of the UK’s second largest regional economy with access to six million customers. The city’s growing business sector has helped to attract numerous major international companies such as Unilever, Land Rover and Sony. The number of businesses in Liverpool has risen by 20% over the past 10 years, adding to the economic success of the city.
Liverpool has previously received 18 years of EU structural funds, which has helped to improve the economic performance and business opportunities available in Liverpool over the last 20 years through investment into and redevelopment of the city.
Following the positive outcome of previous EU structural funds, Liverpool is set to receive further €221.9m EU funding for the period 2014-2020. The funds will be used to create 9,000 jobs and attract 18,500 additional businesses.
Liverpool’s property market has also seen extensive growth in recent years, with the city ranking as one of the top 10 locations for highest rental returns in 2015. Located in the heart of the North West, where tenant demand is the 4th highest in the UK, Liverpool has become a hotspot for buy-to-let property investors.
Image: Museum of Liverpool and Liverpool Waterfront
5 - City of the World
Liverpool’s strong maritime and trade heritage remains important today, with a transatlantic port that continues to play an active role in the trading of UK goods.
A total of £750m has been allocated to the creation of new jobs and opportunities in the city, with the new Liverpool2 quayside port leading the initiative.
Through its worldwide recognition, Liverpool became the first city in Europe to have a Chinatown district established within the city. The area is a popular attraction for tourists and boasts the second tallest standing Chinatown Arch outside China. It also caters to Liverpool’s growing Chinese community to preserve cultural celebrations and traditions.
The city’s well known image around the world has contributed to the increase in tourism which has helped to boost the economy and enable over 49,000 jobs and generated an income in excess of £3.8 billion.
With further investments set in place to boost the existing, business, residential, retail and educational sectors, Liverpool’s buy-to-let market is set to grow further, offering potential investors an excellent opportunity to capitalise.
With two residential developments just launched, PrinvestUK are pleased to present potential buyers with some very exciting project.
Standing in the midst of the UNESCO recognised World Heritage Site, The Produce Exchange bridges the gap between the past and the present of the city. The apartments are perfect for those looking to live and work in the heart of Liverpool city centre
Visit our Liverpool page for more information of how you can get a chance to benefit on the city’s prospering future.