Thanet Property Investment Guide

An area heavily investing in its economic future

Thanet is located on the north-eastern tip of Kent and is predominantly coastal, with north, east and south-east facing

The main towns in the district are Margate, Ramsgate and Broadstairs which were well known in bygone years for being popular day-tripping destinations.

Large hostelries on the outskirts of the region catered for hundreds of coach parties that would frequent the towns during the summer months. Whilst budget air travel
has impacted on the great British seaside holiday, large investment in the tourist industry in recent years—particularly the highly anticipated reopening of Dreamland, in Margate—will see tourists return to Thanet in their droves.

Thanet Offshore Wind Project, near North Foreland, began operating in September 2010. The project is expected to have a total capacity of up to 300 MW which, on average, is sufficient to supply approximately 240,000 homes per year with green energy. The project will make a significant contribution to the government’s national and regional renewable energy targets.

Thanet Earth is the largest greenhouse development in the UK, covering an area of 220 acres. 7 greenhouses each the size of 10 football pitches produce 13 million cucumbers, 225 million tomatoes and 16 million peppers a year. This is equal to roughly 12%, 11% and 8% respectively of Britain’s entire annual production of those foods.

The project has been very successful and its main customers are Asda, Sainsbury’s, Tesco, M&S and agency HRGO. Other main businesses in Thanet are tourism and fishing. It has one of the largest marinas on the south coast.

Property prices in Thanet are slightly above the national average by 6.6% but below the Kent average as a whole by 8.62%, so there are still some excellent property investment opportunities to be had here, particularly when compared to London prices. That means Thanet property investment is an ideal commuter belt property for your portfolio.

Economy & Employment

Thanet is championing cutting-edge renewable energy and agricultural ventures.

Thanet Earth is a large industrial agricultural plant factory project consortium. It is the largest greenhouse complex in the UK and is nurturing Thanet’s future.

The complex is powered by combined heat and power systems that create heat, power and carbon dioxide (which is absorbed by the plants) for the greenhouses. Through a partnership with a virtual power plant, they also export their excess power to the grid and automatically add extra power to the grid at times of peak demand.

Light industry is also at the forefront of new business in Thanet. An emerging industry
is power generation. The £780 million Thanet offshore wind project will produce enough electricity to run 470,000 homes (2/3 of Kent’s total), whilst reducing carbon emissions by 36 million tonnes over 40 years and creating 800 jobs.

Investment

Thanet has many innovative projects now underway.

Redevelopment and renovations are underway all over Thanet. Margate’s Dreamland (a Heritage Amusement Park), Cliftonville (lido site), a Holiday Inn and a new community centre for Broadstairs are all underway.

The regeneration of the Dreamland theme-park, in particular, is highly anticipated. The revamped retro-style Dreamland is expected to become a major tourist attraction when it reopens in June 2015.

The multi-million pound Turner Contemporary art gallery in Margate, was opened by Tracey Emin in April 2011. This has been a huge boost for tourism as visitor numbers have far exceeded expectation.

The increased footfall has contributed to the opening of many new shops in the old town. Margate has also been chosen as a Mary Portas retail town.

Massive investment and building work are taking place in schools across the island.

In addition, the District Council has introduced an empty property initiative and compulsory purchased empty and derelict buildings with the objective of bringing them back into use.

Transport

Air: The closest airport to Thanet is London Gatwick. There are regular services operated by rail & bus to both Heathrow & Gatwick.

Rail: The high-speed service to London opened in December 2009, between London’s St Pancras station and Kent. The journey time from Ramsgate to the new St Pancras terminal, with excellent transport links, is 1 hour 16 minutes. Other trains run from Ramsgate to London Charing Cross and London Victoria. Commuting time to the capital on these lines is approximately 1 hour 50 minutes. Trains from Ramsgate are routed via Margate, Chatham and Bromley South, or via Canterbury West, Dover Priory and Ashford International.

Bus: Local services are mostly provided by Stagecoach East Kent and serve Broadstairs, Canterbury, Dover and Margate. London commuter services also run from the region.

Road: Ramsgate is connected to the national road network primarily through the A299 Thanet Way, which continues on to the M2/A2 for the M25 (approx 1 hour) and London. The A256 provides a link to Dover and onwards to the A20 for the Channel Tunnel.

Education

Thanet has 41 primary schools, 13 secondary schools and 5 private schools.

Chilton Courtstairs Primary Free School is due to open in September 2015, creating an additional 210 primary school places in Ramsgate. The proposal for the new free school was put forward by parents and teachers after 177 applications were received for just 60 places at Chilton School.

Further Education: East Kent College is a major provider of further education in East Kent and a Training Provider that works with local businesses to raise the level of education across the region, they have three campuses locally.

Higher Education: Just outside Thanet’s boundary in nearby Canterbury are the University of Kent, Canterbury Christ Church University, the University College for the Creative Arts, and the American University.

Shops & Leisure

Shopping & Dining: Margate, Ramsgate and Broadstairs each have shopping centres with a mix of local and national retailers, complemented by Northdown Road, Cliftonville, Westgate and Birchington. Westwood, at the centre of Thanet, has seen much major development in recent years with the opening of state-of-the-art Westwood Cross shopping centre complete with multiplex cinema.

The stunning Ramsgate Royal Harbour Marina is a beautiful setting full of cosmopolitan restaurants. The picturesque harbour makes a delightful area for residents and visitors to relax and socialise in.

Sport & Culture: Thanet is home to the internationally renowned Broadstairs Folk Festival and Ramsgate International Yachting Week >as well as other major events. The district is surrounded by beautiful beaches ideal for a range of water sports from sailing, jet skiing to kitesurfing.

For evening entertainment Theatre Royal Margate provides a contemporary mix of plays, dance, song, comedy and music.

About the Author

Brett has over 20 years experience in all facets of property, he owns various companies centred around property and is the driving force behind the education and training at Gladfish. His companies have sold over £850 million in UK and London property and he manages over 1200 properties through his estate agency chain. Today he shares his time between UK, Australia and Singapore. He is married to Arlene and together they have 4 kids.

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