£3 Billion of investment, Southampton’s master plan ensures 20 years of growth for the SO postcode
A town with a plan. Let’s be clear on this: the city of Southampton is already beautiful and benefitting from millions of pounds of investment in development and regeneration. However, if we could just glimpse the future of Southampton we would see the benefits of a master plan that will bring £3 billion of investment into the city and provide 5,000 new homes and 24,000 new jobs to the SO postcodes.
This master plan includes several multi-million-pound developments that will bring beautification and leisure facilities and will strengthen Southampton as one of the best locations for finding the perfect life/work balance on the South Coast.
Seven key areas have been targeted for development over the next 20 years. The aim is to attract new business, more tourism and to develop new communities by providing thousands of homes as well as fantastic retail and business districts.
Getting down to business
Southampton’s local economy is worth £5 billion per year. More than 7,600 businesses operate in the area and employ around 120,000 people. The master plan for Southampton works toward building on potential for strong and sustainable economic growth by developing areas on the coast and inland into vibrant business districts.
Known as the `Cruise Capital of Northern Europe’, the docks of Southhampton house four cruise terminals. The holiday cruise industry brings £400 million to the local economy every year. Southampton and the Isle of Wight also house 7 out of the top 10 global aerospace companies including Boeing, Lockheed Martin and Astrium.
At the forefront of technology
Southampton is a city that has always been on the cutting edge. Southampton University is one of the top 5 research universities in the UK with a global reputation for engineering and computer sciences, oceanography, chemistry and cancer research. The research conducted here drives the industry forward and adds significantly to the impressive growth happening in this exciting city.
With so much going on in Southampton, there are plenty of reasons why the city is such a desirable place to live. The many developments popping up in the city, buoyed by the ambitious master plan for the city centre, mean that Southampton property investment opportunities will provide a wealth of opportunity for your portfolio.
Economy & Employment
Buoyed by a world-class port, one of the country’s leading commercial dockyards and several major business sites, the local economy of Southampton is worth around £5 billion per year.
Major sectors of the economy within the SO postcode include aerospace, environmental technology and marine industries such as cruise holidays and deep sea research.
More than 76,000 businesses operate in Southampton and employ around 120,000 people. These figures are set to grow steadily thanks to the major developments happening in the area. The large shopping, leisure and business sites being created will bring 24,000 new jobs to Southampton. Sectors such as construction, retail, tourism and professional services, which are already strong, will grow to unseen levels in the SO postcodes.
That means Southampton property investment is right for you if you’re looking for a major city for your portfolio.
Southampton is currently bursting with opportunities for investment as the City Centre master plan is aiming to generate £3 billion of investment in the area by 2030. Already there are several multi million pound developments (see pages 3-4) underway that will bring 24,000 jobs and 5,000 new homes to the SO postcodes.
The master plan is long-term, but the benefits of such widespread regeneration will bring major benefits very quickly. Each development brings many construction jobs to the area, and when complete the new retail and business complexes will employ thousands of people. This multitude of new jobs will bring people to Southampton, and people need housing. In an area experiencing such large-scale growth, demand for property will be high.
Southampton Central Station provides a direct line to London Waterloo with trains to London every 30 minutes served by South West Trains. There are also direct services to Southampton Airport, Winchester, Bristol, Bournemouth, Portsmouth, Salisbury, Brighton, and Poole. Southern Trains provide services along the south coast to Gatwick Airport, Brighton, Havant, and Chichester. First Great Western operate services to northern cities including Birmingham Manchester, Newcastle and Sheffield.
Many bus services in the city make getting around Southampton and nearby towns a breeze. Southampton airport is the 18th largest airport in the UK with domestic and international services. Southampton is the main cruise port of the UK, with many cruise ships taking holidaymakers all over the world. Ferries also take passengers to mainland Europe.
The University of Southampton is one of the top 5 research universities in the UK and ranked in the top 1% of global universities. Its worldwide reputation for leading research and scholarship in subjects such as engineering, science, social sciences, health and humanities brings thousands of students into its lecture halls every year. The current student population of Southampton University stands at 23,315.
Southampton Solent University is a dynamic and diverse institution that prides itself on integrating ‘real world’ experience into its academic courses. The university is well regarded for business, arts and media studies and has a student population of 17,455
Southampton has many excellent schools, sixth form colleges and further education colleges, with 79 state-run schools and several independent schools such as King Edward VI School, a public school with a history dating back to 1553.
Shops & Leisure
Southampton is the cultural and retail centre of the south coast. It enjoys a mild climate which, along with its economy, proximity to the sea and attractive countryside, means that Southampton is considered to be one of the best places in the UK to live.
The city boasts a diverse range of bars, pubs, cafés and restaurants. There are also various theatres, cinemas and music venues which cater for all tastes. The city’s largest theatre is the Mayflower Theatre, which with a capacity of 2,300 is the largest theatre in Southern England outside London.
With its 50 or so parks and green open spaces, Southampton is considered to be one of the greenest cities in the UK. Parks of note include Mayfield Park, which has been awarded the Green Flag, Weston Shore – a mile-long stretch along Southampton Water and the 200 acres Royal Victoria Country Park.