As the new year approaches, many people will be looking ahead to see what opportunities await in 2023. That means assessing which areas are currently undergoing major regeneration. You will want to buy property in places where you know the local infrastructure will support you, where demand is going to be high and where opportunities for growth continue.
Birmingham
Few cities have seen the scale and extent of regeneration of Birmingham in recent years. From Birmingham New Street Station to the West Midlands Metro Line, from the Bullring to Grand Central, it is an impressive list. There is more to come as well, with Paradise set to offer premier office space in what has long been part of Birmingham’s civic quarter. Birmingham Smithfield is another area seeing substantial investment, including Peaky Blinders Digbeth Loc. Studios and MasterChef HQ, as well as various other commercial, residential and public spaces. If you are looking for help with conveyancing Birmingham, then a specialist firm such as Sam Conveyancing can offer local expertise.
Liverpool
After the West Midlands, Liverpool has the fastest-growing technology sector in the UK. The Knowledge Quarter was a £2.2 billion development dedicated to technology, science and health. The already sought after city is increasingly rivalling the appeal of London and the Southeast. Liverpool has already seen around £14 billion worth of regeneration, including at the LiverpoolONE shopping centre, which in turn encouraged even more development projects. More plans are in place for the waterfront, as well as to upgrade roads and railway stations.
Leeds
Leeds is a popular destination for those relocating from London and it has an incredibly fast-growing local economy. Leeds City Station is the biggest and busiest railway station in the North East and has seen major improvements in everything from its platform length to the surrounding public spaces. The long-planned Lisbon Square development may finally be moving forwards with hotels, mixed-use offices and residential apartments. In addition, the council has secured millions of pounds of funding to regenerate City Park, Temple Green Park and Ride and the older parts of Holbeck.
Bracknell
Property in Bracknell has seen impressive price rises in the last decade, driven in part by the development of the Lexicon Shopping Centre. More than 150 bars, restaurants and shops have already been opened and a leisure quarter is still to come, surrounding the existing Hollywood Bowl. This will include extensive outdoor public space for performances and events. Millions more have been devoted to providing transport infrastructure to support this development.
Slough
Slough may not be the first place you think of when it comes to sought after destinations, but it has spent £3 billion on projects such as the Heart of Slough. The Curve is a cultural centre with multiple uses and there are plans to completely redesign the Queensmere Observatory shopping centre. The completion of the Elizabeth Line has proved beneficial to Slough thanks to the improved connection to London, and former Londoners make up an increasing proportion of residents.
If you are looking for somewhere to invest in property in 2023, then these five towns and cities have all seen significant regeneration work, expanding residential, commercial and public spaces as well as improving transport links, and most plan to continue their redevelopment in the near future.
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