A strong economy built on industry and manufacturing
Basildon employs over 77,000 people. It has the second largest economy in the Thames Gateway outside of Canary Wharf. This makes it an important economic driver in Essex and a business hub within the Thames Gateway South Essex sub-region.
The annual turnover of Basildon’s businesses is the highest with 27% of the county’s total.
House prices are 24.8% below the national average and 27.7% below the regional average. Overall, sold prices in Basildon over the last year were 7% up on the previous year.
After the war, the government offered business grants to companies to set up here, The Ford Motor Company, Carreras Tobacco Company, Yardley of London, Gordon’s Gin, GEC-Marconi all took up the offer, industry and job creation has increased ever since.
Basildon has several heavily developed industrial areas situated in the borough and is home to SELEX Galileo, New Holland Agriculture, MK Honeywell and CNH Tractor Plant (formerly Fords). Argos opened a regional warehouse in the 1990s. links by road and rail to London, making it very popular with city workers so demand for rental properties is high. That means Basildon property investment is well worth considering if you’re looking to add a London commuter belt property to your portfolio.
Part of the future growth of the area will come from £1 billion of regeneration and construction.
Discover more with a free Basildon Property Investment Guide.
Economy & Employment
Basildon is a business hub with its heart in design, engineering and manufacturing.
Basildon District has the largest business community in the sub-region with over 40,000 people employed within the Basildon Enterprise Parks along the A127 Corridor.
£15 million was spent to develop the Basildon Enterprise Corridor. Work completed in 2011 and included a new welcome to visitors to Basildon in the style of the Hollywood sign.;
It is forecast that 11,000 new jobs will be created by 2021.
A significant proportion of residents of Basildon continue to commute to the capital city, due to the lower cost of housing in the region compared to city prices, there is always a buoyant rental market, making it a great investment for buy-to-let landlords.
Basildon Borough Council has proposed a Local Plan up to 2031, which centres on a need for at least 16,000 new homes.
Find out more reasons to invest with a Basildon Property Investment Guide.
Basildon is a leader in technological innovations, with research and development playing a major role.
More than £1 billion worth of regeneration activities are planned in the Basildon district over the next 15 years, also assisting the local construction industry, which is already above average, accounting for 5.4% of the jobs in the East of England.
Business start-ups in the district are also growing. Basildon has the third highest percentage of new businesses and the second lowest percentage of business closures in Essex.
Innovation, research and development play a critical role in keeping the district’s businesses successful in a competitive global marketplace. Companies such as Ford, ARRK Europe Ltd., SELEX Galileo and MK Honeywell are leading on technological innovations in their fields.
The private sector spends on research and development in the district is estimated to be as high as £1 billion per annum.
Photo credit: Mother and child statue, Basildon town centre, Gary Pearce.
Air: Easy access to Southend Airport (30 minutes) Stansted Airport (45 minutes), with Luton, Heathrow and Gatwick Airports all reachable in about an hour.
Rail: Frequent services to London Fenchurch Street take under an hour and are serviced by 3 stations in the district, making it very popular with commuters.
Road: Conveniently located on the A13 & A127 for great access to London, the area is very popular with commuters.
Bus: Frequent London services are run for commuters, with additional services operating to the adjoining towns of Wickford, Billericay and other nearby towns.
Schools: 36 primary, 5 secondary, 1 independent.
Notable area institutions include:
- Beauchamps High School, for girls & boys aged 11 to 18
- St. Johns, for girls & boys aged 3 to 16
Higher Education: South Essex College has four campuses in the area, one of the largest higher education provisions in the country and are validated by the University of Essex and University of East London.
The college also offers services through its Business Development Team, and leads The NOVA Partnership for Apprenticeships and Skills, consisting of 13 education and training providers.
Shops & Leisure
Shopping: When the Eastgate Centre opened in 1985, it was the largest retail provider in Essex, and labeled ‘the most advanced indoor shopping centre, anywhere’. Today it comprises of two giant anchor stores, Debenham and Asda and has undergone a number of facelifts since being built. The most recent substantial refurbishment was in 2007 and cost more than £10m.
Further shopping facilities in the town can be found at Westgate Shopping Park, and there are local markets too.
Leisure: Langdon Hills recreation ground was established in 1926, set in 15.5 acres it has tennis courts, football pitches, a cricket square, children’s play area and open space for other activities.
The Festival Leisure Park, includes several restaurants, a bowling and arcade centre, two hotels, an eighteen screen Empire cinema and two health clubs as well as the third largest nightclub complex in the UK.
Photo credit: Woodfield Farm Fisheries, William Warby, Flickr.