When government and businesses invest, property investors should step in, too
There are many great reasons to invest in off-plan property in Leeds. You’ll find some of the UK’s best property investments here.
It is home to some of the best retail in the UK. It hosts a higher education population of more than 200,000. Its residents benefit from some of the best schools in the UK, and a high percentage of schools that are rated ‘good’ or ‘outstanding’ by Ofsted.
Leeds is a city that is only two hours from London by train and just six hours from Paris. It is well-connected to the north, and the rest of England and Wales to the south. Businesses here benefit from a well-educated workforce of around 2 million. More than 7 million people are less than an hour’s drive from Leeds city centre.
So, a great place to go to work, raise a family, and for retail therapy. A place that is easy to travel to and from. But what investment is really taking place here? Is money being pumped in by businesses and central and local government? The kind of money that could drive property investment profits higher, and make off-plan Leeds an irresistible investment proposition?
In this article, we examine how huge inward investment is transforming Leeds. We look at what it will mean for the city and its surrounding areas. You’ll discover a fantastic Redrow development, which promises incredible investment potential.
The £1 billion Growth Deal is the tip of the investment iceberg in Leeds
The Leeds City Region secured a £1 billion Growth Deal with the central government in 2014. It provides the finance to deliver ambitious growth and the West Yorkshire Transport Fund. Additionally, more than £350 million of public and private investment will help to boost regeneration, growth and jobs. But this investment is just the tip of the investment iceberg.
Leeds – huge investment holds hands with regeneration
There is a minimum of £9 billion earmarked for investment in the Leeds area, including £7 billion on infrastructure.
Skills development programmes and infrastructure include:
- Skills Fund and Hub
- Enterprise and innovation programmes for young people
- Extension of apprenticeship schemes
- Support for Leeds’s innovation assets (e.g. University Enterprise and Innovation Centres)
- The BioVale cluster for biotechnology companies
In the areas of transport and regeneration, plans and commitments include:
- The West Yorkshire Plus Transport Fund plans to invest £2.2 billion through to 2026
- The acceleration of housebuilding, development and connectivity
- Expenditure on legacy schemes (New Generation Transport for Leeds; Leeds Inner Ring Road; Railway station improvements)
- Regeneration of inner city areas and disused housing and industrial stock
Leeds city centre – new development, new jobs, new opportunities
The High-Speed station development alone will create 10,000 new jobs. The area around the new station, some 336 acres, comprises Holbeck Urban Village, the old Tetley Brewery, and Leeds Dock. Once the project work is finished, it is expected to provide the city with 2.7 million square feet of new retail and office space, 5,000 new homes, and 20,000 new jobs. There are plans for an integrated transport hub, including trolleybuses, buses, the classic rail main line, taxis, and cycle routes.
Plans already being put into motion include the pedestrianisation of the City Square, in preparation for Leeds to win their bid as the 2023 European Capital of Culture. West Yorkshire Transport Fund has earmarked £1.4 billion for the pedestrianisation project, which should be complete in 2021, with bus travel speeded up and pollution reduced.
Investment to provide ‘robust and sustainable growth’
The transformation of Leeds city centre will impact the entire region, with Leeds becoming what City Council leader, Councillor Judith Blake has called, “a landmark gateway to welcome visitors and business travellers in the city and region”. The West Yorkshire Playhouse benefits from a £14 million refurbishment. Quarry Hill will provide 5.6 acres of mixed-use development, with public squares, piazzas and gardens.
The Leeds City Region Enterprise Partnership Strategic Economic Plan has been developed to provide robust and sustainable economic growth, with every £1 of investment providing economic output growth of £10. By 2021, it envisages:
- £5.2 billion in extra economic output
- 62,000 extra jobs
- £675 million extra in taxes paid to HMRC
With the massive regeneration programme already underway in Leeds city centre, Leeds and West Yorkshire exhibit all the fundamentals for profitable property investment. Consequently, West Yorkshire has an objective to double house building by 2021 and a £1.6 billion transport fund to ensure greater integration of transport.
There is no doubt that the both funds and determination to kick-start residential development projects are present, and the city council is already bringing forward development sites by fast-tracking decontamination, clearance, and upfront infrastructure works.
15 minutes from Leeds city centre is this property gem from Redrow
Weavers’ Chase is just a few minutes’ walk from Morley station, from where trains take just 12 minutes to arrive in the hustle and bustle of Leeds city centre, with its incredible retail offering.
There is a Morrisons supermarket nearby, and Morley market is open six days every week. Two health centres provide local GPs within half a mile of the development. For local dining, Morley offers a range of restaurants and bars.
Homes here are perfect for families, with two highly-rated primary schools a short walk away. Morley Academy, one of the highest-rated schools in Leeds, provides local secondary education.
Once school and work are done for the week, for those who don’t fancy the short journey into Leeds, Morley is home to several sports clubs, a rugby union team, and multi-screen cinema. In Leeds, you’ll find the Northern Ballet, Grand Theatre, West Yorkshire Playhouse, and major groups and artists playing at the First Direct Arena. All this is in addition to an eclectic and vibrant nightlife scene.
These Redrow homes ooze quality. In the kitchen, you’ll find integrated, energy-saving appliances from leading brand names such as Smeg, Siemens, and AEG. Bedrooms are fitted with handcrafted wardrobes. Interior design promotes efficient use of space, with every aspect carefully considered. Homes benefit from elements such as brick detailing, high-quality sandstone plinths, wide barge boards, decorative ridgework and ornate finials.
Redrow homes are built with energy efficiency in mind, too. They consistently outperform air tightness standards, resulting in less heat loss and fewer droughts. Compared to 10 years ago, Redrow homes are 35% more efficient (and each comes with a smart meter fitted as standard).
Redrow is one of the UK’s premier developers. It is the winner of the Housebuilder of the Year at the 2017 Interior Design Awards. It has won numerous accolades and awards for safety in construction, and for interior design. It also scooped the Gold Award for Best Large Builder at the 2015 WhatHouse? Awards.
With the plethora of awards Redrow has won in recent years, property investors can be sure that purchasing a Redrow home off-plan in Leeds will provide them with a property designed to maximise lifestyle of its residents. It should help to maximise profits for investors.
Contact one of the Gladfish team today on +44 (0)207 923 6100, and discover more about the amazing property investment opportunities in Leeds – and to be kept informed of off-plan and new build property investment opportunities in Leeds as they get the green light.
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