The number of development schemes in North Liverpool, with the sole aim of improving the local area and economy, is staggering. This can only be good news for property investors.
Whenever a local economy is given a helping hand by government investment, jobs are created and house and rent prices rise as demand increases. Liverpool has been going through regeneration for a while now, but recent developments show that now is a great time to invest in the city before prices increase further.
The development schemes include a large amount of planned investment going into the local road network, and pedestrian and cycle access. This is in addition to the Liverpool Waterfront, the long-term investment of the docks, along with the potential re-opening of Lime Street train station as part of Merseytravel’s 30 year plan.
It’s thought that these will create thousands of jobs in North Liverpool as well as increasing tourism and the reputation of the city as somewhere to visit and live.
Out of all these exciting plans, three stand out, including the first new link road in Liverpool City Centre for a decade.
A New Link Road
Potentially one of the biggest improvements investors could see coming to North Liverpool is the building of a new link road between the junction of Leeds Street and Great Howard Street down to Princes Parade at the waterfront.
The new road will cost £20 million and is being built alongside a £250 million investment scheme, the Better Roads Programme by Liverpool City Council, which includes a number of improvements to the surrounding roads as well as pedestrian and cycle routes.
It’s hoped that the new link road, which will run through the existing King Edward industrial estate, will not only improve access but will help to ease congestion and assist with the regeneration and growth of North Liverpool’s industry and economy.
This new link road will also improve access to the waterfront and the new cruise terminal.
A New Cruise Terminal
Liverpool Waters became a turnaround facility for cruise ships in 2012, and since then the number of vessels visiting has doubled, including the Disney Cruise Line which first called at the port in 2016. The port is award winning and was named the UK’s best port of call in both 2013 and 2014. This seems to be a title Liverpool is eager to reclaim.
A new cruise terminal is planned at Princes Parade, on the former Princes Jetty, to allow for larger cruise ships to visit, which will mean more passengers (and crew) spending money in the city and boosting Liverpool’s economy. Not to mention the jobs that will be created when building and then staffing the terminal.
The new terminal will be large enough to handle up to 3,600 passengers at a time and will include passport control, a lounge, cafe, taxi rank, pick up point and car park. A new quay will also be built along with access to allow coaches to pick up and drop off passengers.
A new cruise terminal isn’t the only investment in North Liverpool that will attract visitors.
A New Football Ground
Also potentially coming to Liverpool’s waterfront is a new football stadium. Everton Football Club are in discussions with Liverpool City Council about choosing a site alongside the Mersey upon which to build their new stadium.
The new football stadium would become a landmark on the historic banks of the river. It’ll not only attract football fans from across the country to Liverpool, it will also create jobs and increase spending in the city, all helping to boost the economy.
At the time of writing, the city and Everton fans are waiting for the announcement about the site of their new stadium. One proposed site is Bramley-Moore Dock, which was home to the Liverpool Sound City music event for two years before it was moved elsewhere for 2017. The announcement is due within the next couple of months.
Just as the economy starts to take an upward turn is the best time to invest in property. By investing in North Liverpool property now, you stand ready to reap the rewards once these developments are completed.
Eldon Grove and Reliance House, both situated just down the road from the site of the new cruise terminal and link road, are the perfect places to invest and not only gain a piece of history, but a foothold as Liverpool’s economy takes off.
If you’re interested in investing, or would like to know more, get in touch today.
For more information on what makes Liverpool such a great city, you might enjoy our 14 Fun Facts to Love About Liverpool.