A master plan is underway to grow the economy by 16% blocking £1 billion of development
The city of Bath is in Somerset in south-west England, 97 miles west of London and 12 miles south-east of Bristol.
Enterprise Area will accommodate up to 9,000 new jobs and 3,400 homes. The 98 hectares of land marked for development will focus on growth sectors such as creative industries, financial services, IT and software development.
The plan is expected to increase Bath’s economy by £620 million, an increase of 16% pa. Overall the Enterprise Area will drive employment and investment leading to £1 billion of development in the course of the next 15 years. census including the surrounding area of north-east Somerset was 169,040.
One of Bath’s principal industries is tourism, with more than one million staying visitors and 3.8 million day visitors to the city on an annual basis. The visits mainly fall into the categories of heritage and cultural tourism.
That means Bath property investment is ideal for you if you’re looking for a London a commuter belt property for your portfolio. Bath’s property prices have seen an increase of 8.6% in the last year, against 6.7% nationally. So the area is currently experiencing a very healthy property market. Unsurprising, when property experts are estimating rises of up to 24% over the next five years in nearby Bristol. Average property prices are also around 42% cheaper than the London average. The council’s 2014 master plan contains an impressive vision for Bath’s future and the city’s economic growth.
Economy & Employment
Bath’s economy is based largely on the NHS, higher education and the Ministry of Defence.
The main employers are the National Health Service, the two universities and the Bath and North East Somerset Council, as well as the MoD.
Other employment sectors in Bath are software, service-oriented industries and London Country mortgage brokers. Traditional and digital publishing is also prominent with companies like Future Publishing who employ around 650 people. Other major sectors include education health (30,000 jobs), retail, tourism and leisure (14,000 jobs) as well as business and professional services (10,000 jobs). Growing sectors include information and communication technologies, creative & cultural industries.
Bath is the leading ‘positive investor’ hotspot in the UK.
Bath has been named as one of the ‘positive investor’ UK hotspots. Its residents have invested £2.3 million since 2012 in local community projects and businesses. Renewable energy schemes have played a major role in making Bath one of the top hotspots.
Since 2012 positive investors raised £1.55 million for local community-owned renewables through Bath and West Community Energy Other community offers include one of the UK’s most successful community pubs. Over 500 people raised £700,000 In July 2013 to save The Bell Inn on Walcot Street and keep the live music venue thriving. There was also a successful £50,000 buy-out of a community shop in Westbury-sub-Mendip. That means Bath property investment is right for you if you’re looking for a London a commuter belt property.
Cycleway: Bath is on National Cycle Route 4, with one of Britain’s first cycleways, the Bristol-Bath Railway Path, to the west a route towards London on the canal towpath.
Air: The closest airport is Bristol which is about 20 miles away and easily accessible by road.
Rail: Bath Spa railway station has regular connections to a multitude of stations; First Great Western run a service to London Paddington taking around 1 hour and 25 minutes and has a frequency of every 30 minutes at peak times; they also provide the service to Bristol Temple Meads which takes 13 minutes and runs every 12 minutes at peak times.
Road: Bath is approximately 13 miles south-east of the larger city and port of Bristol, to which it is linked by the A4 road, and is a similar distance south of the M4 motorway.
Bus: National Express operates coach services from Bath Bus Station to a number of cities. Internally, First Group and Faresaver, run services to surrounding towns and cities.
The Bath and North East Somerset district contains 63 primary, 13 secondary, 6 independent and 3 special schools.
Further Education: The district contains two further education colleges: City of Bath College & North Radstock College.
Higher Education: The University of Bath was established in 1966 and was named University of the Year by the Sunday Times in 2011. It includes courses for engineering, mathematics, architecture, management & technology.
Bath Spa University was first granted degree-awarding powers in 1992 as a university college, before being granted university status in August 2005. It delivers Postgraduate Certificate in Education courses as well as degrees in a variety of subjects.
Shops & Leisure
Shopping & Dining: Bath is a shopper’s paradise, home to brands rarely found outside of London, including Anthropologie, Banana Republic, Brissi and The Kooples. In addition, leading brands such as Jack Wills, Ted Baker, Karen Millen, Urban Outfitters, Jo Malone, Apple and Whistles have a presence in Bath. There is also an eclectic mix of independent boutiques for more bespoke purchases.
Sport & Culture: Bath is famous for its Rugby Union football club who play in the Aviva Premiership. There are also football and cricket teams.
Green Spaces: Royal Victoria Park is a short walk from the city centre. It was opened in 1830 by the 11-year-old Princess Victoria and was named after her. The public park is overlooked by the Royal Crescent and covers 57 acres. It contains a skate-park, tennis courts, bowling green, putting green and 12 18 hole golf courses. It holds open-air concerts and an annual funfair at Easter. It has a Green Flag award, the national standard for parks and green spaces in England and Wales.