What's on the property agenda for Liverpool?

It’s now been over six months since we officially launched our Liverpool branch – we can’t believe how time has flown! Not only has the city bagged an award-winning agent (that’ll be us!), it’s also had a pretty decent skyline transformation with the number of new developments gone to planning, in progress and launched. Liverpool is constantly changing and evolving, and we love that.

We often chat about the property goings-on in Manchester, but since we opened our Liverpool branch, we’ve noticed a similar pattern. We decided to dig a little deeper and see what snippets of information we could that that would be of interest, so here goes:

Keeping it Resi

Residential property is our bread and butter. Of course, demand brought us to this amazing city so it’s no surprise to learn that there are new schemes popping up left, right and centre. One of them being a brand spanking new development lined up near the famous docks. The 12 storey scheme from North West Industrial Estates looks pretty epic from the plans, and is set to create 76 one-bedroom and 164 two-bedroom apartments – with many including desirable private terraces. Not only that, but the scheme ties in with new commercial space on the ground floor as well as a tonne of car parking spaces. These guys have thought of everything!

Another new development which has caught our eye came from JD Estates. Their proposal for new apartments near to the Catholic Cathedral will boost the ever-growing Knowledge Quarter. Buyer and tenant demand here is huge - we’re really excited to see how this one develops!

For something outside the box, a derelict church in Toxteth is set to undergo new development. Having stood empty for quite a few years, a local housing charity stepped in and felt the site was due for some much needed TLC. However, for anyone looking to potentially buy one of the new properties, you’ve got to be willing to get your hands dirty. A requirement of the property is that you are willing to self-build in order to obtain at home at the end of it. The plans look set to truly transform the current site and we can’t help but admire this completely new approach to property development. Best get those builders hats and overalls at the ready…

Any other business…

We’re all for hearing about new homes but property of any kind still takes our fancy, no matter what category it falls under. And let’s be frank, there’s so many exciting things going on in Liverpool property scene right now that it would be rude not to mention some of these new projects…

Lock & Key only officially opened at the end of last month but did you know they have huge plans on the horizon? Having been a disused building for over 10 years, a group of developers transformed the space into a new bar and kitchen which is now open to the public, but there’s also plans to create a boutique hotel in the space too. This is set to open for business at the end of the year. Set to be a super slick addition to Liverpool’s nightlife, the hotel will offer something different in each room by the way of cute trinkets, cocktail trolleys and they’ll even give you the option to personalise your own mini-bar – where do we sign up?!

Speaking of bars, we’re also chuffed to see that Concert Square favourite, McCooleys, is getting a second home in the city. After launching only two years ago, the bar has been such a hit that there’s plans to take over a new site on the corner of Mathew Street and Stanley Street in the city centre. Renovating some currently unused space in Liverpool, we have no doubt this second site will be just as popular as the first.

Last, but certainly not least, is the iconic Lewis’ building in the city centre. Having stood empty for a number of years, this spacious site will be completely revamped and turned into a brand new shopping and leisure centre in the heart of the city. The site, which will be renamed Circus, will be given a new lease of life, and the current developers also claim the work will help MerseyRail expand the nearby Liverpool Central station. Sounds like an all-round winner to us!

The stats to prove it

From what we can see, the flurry of activity is set to continue. New developments, growing house prices, high yields, and tenant demand is bound to be affected by the changing landscape of Liverpool – and all in a good way.

We’ve rounded up some stats to give you an idea of how much growth the city is set to experience:

·         House prices are predicted to rise by 22.8% over the next 4 years

·         Liverpool has recently been coined the UK’s biggest buy to let hotspot with average rental yields of 8% due to low prices and tenant demand

·         Apartments are set to dominate city centre market, taking up 35% of all property sales

·         For investors, rental prices are set to increase by 17.6% over the next few years making it an even more appealing area for buy to let

As you can see, Liverpool is thriving. If you’d like to know more about Liverpool and why it could be the next city for your property purchase, contact us today. We’re award-winning agents as voted or by our customers so we’re confident we can help you sell, buy, let or rent your new home in the city. To find out more, call our Liverpool office on 0151 305 2577.