Connectivity is key for investment potential
Cities depend on their transport routes to reach their potential. If a city is gridlocked, it will eventually die. But when a city is designed to enable the flow of traffic and people, it thrives. Goods can come in and out. Commuters travel to and from work easily. Shopping and leisure trips are enjoyable. Life is easier when transport networks make getting around painless. And good transport options make for prime property investment opportunities.
Newcastle – where transport is moving through the gears
Newcastle is undergoing a massive investment in its transport network. The aims are clear:
- Traffic will flow through peak periods
- Public spaces will be improved
- Newcastle will be cleaner, greener, and a healthier place to live
The project is called ReNewcastle. With £60 million committed, it’s the biggest investment in its transport infrastructure for 30 years. The project is now well underway, and it should help to boost the potential of residential investment property in and around the city.
Transport to transform a city
Visitors to Newcastle’s city centre today complain that it can take 20 minutes to get a taxi that should be no more than three minutes away. By 2022, this should no longer be a problem. ReNewcastle aims to transform the city’s highways and public spaces in the centre, across and around the city.
If all goes to plan, Newcastle will become one of the easiest cities to get around. New road layouts will create an easier flow. Traffic light technology will keep vehicles moving. Ease of travel will increase commercial and retail opportunities, making the city more attractive as a business destination.
Across and around the city, road access will improve
Technology is a big part of the ReNewcastle plans. The busiest corridors have been reliant on ageing traffic technology, meaning that traffic flow in peak hours is slower. Combined with road layout improvements, 21stcentury technology will smooth traffic flow in the north, into and out of Newcastle, and towards North Tyneside and south-east Northumberland. Major corridors will be better connected.
Around the city, major roads are being improved. Traffic signals are being upgraded. Junctions are being improved. New and improved cycle routes will make cycling and walking around the city more pleasurable and safer.
ReNewcastle is not limited to roads
Newcastle benefits from its own light rail system, the Metro. This was opened in 1980 and has been a huge success. It’s estimated that it has taken 15 million car journeys off the road, helping to keep congestion as low as possible. It’s a vital transport artery, carrying 40 million passengers each year and helping people get to work and recreation more easily.
ReNewcastle realises how vital the Metro is for the city and its residents, and supports its owner/operator, Nexus, in its efforts to secure central government funding for a new Metro fleet. Nexus has been modernising its rail infrastructure with a programme costing £350 million, and in November 2017 its efforts were rewarded with a commitment from the government to provide £337 million for new trains, which will be in operation from 2021.
Connectivity is not limited to transport
ReNewcastle is not limiting its efforts to transport, either. As well as upgrading national and international transport links and improving the city centre to make foot and cycle travel easier, the project has delivered superfast broadband infrastructure that is so vital to modern businesses.
New homes are being built across Newcastle. The population is growing, and new communities will now find it easier to travel around the city, for work, rest, and play. Those who invest in Newcastle property should benefit from the improved transport and connectivity that should attract international and national business investment and create thousands of new jobs.
As a destination for property investors, we believe that Newcastle offers incredible investment potential in the North East of England.
Contact Gladfish at +44 (0) 207 923 6100 to learn more about the exciting property investment opportunities in the North East of England, and discover how investing in Newcastle’s property market could boost your investment returns.
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