As experts in the buy to let property market, it is our obligation to keep our audience and clients educated with the latest information on the market and ensuring we are ahead of the curve on key investment trends in the country. Here is a snapshot of the economic drivers of the Liverpool buy-to-let market, we have identified a number of areas which we believe is forcing the property prices in the area to sore. Liverpool has been identified as one of the hottest areas in the UK to invest, and is benefiting from an increase in price year on year.

economic drivers

The largest container ship to call at the Port of Liverpool arrived this week. The HS Paris is the first post-Panamax vessel to stop at Liverpool, and has a capability of carrying more than 6,500 shipping containers.

Previously, the Port of Liverpool’s existing container terminal could only accommodate vessels with a capacity of up to 4,500 shipping containers.

The HS Paris called at Liverpool using the new £400m Liverpool 2 deep water container terminal which opened in November, and increased the size of vessel that the Port can accommodate.

Post-Panamax is a desciption within the shipping industry for vessels that could not fit through the Panama Canal, a significant 48-mile waterway that connects the Atlantic Ocean and Pacific Ocean, prior to its expansion last year. The original locks were 110ft wide, meaning that it couldn’t take wider, more modern ships.

While the new Liverpool 2 berth can accommodate the largest deep sea container vessels, take-up for use of the terminal has been slow. The berth opened a year late due to weather delays, and last month suffered a 10m-wide sinkhole, although according to Peel Ports this did not impact on operations.

Mark Whitworth, chief executive of Peel Ports Group, said: “This is a huge milestone for Peel Ports and the Port of Liverpool. The whole team is delighted to welcome HS Paris to the city for the first time. While we have the capacity to handle vessels up to 20,000 TEU, smaller post-Panamax ships are still very much part of our overall strategy and it’s essential that can accommodate those too. We can now do that thanks to our £400m investment at Liverpool2, providing a shorter route to market for UK importers and exporters, which reduces their costs, congestion and carbon emissions.”

Peel Ports recently announced that it had secured 150 advocates for its ‘Cargo200’ initiative. The campaign calls on importers and exporters whose goods begin or end their journey in the North of the UK to switch delivery of ocean freight from South East ports to the centrally-located Port of Liverpool.

Peel has previously said it is hoping to increase Liverpool’s share of the UK container market from 8% to 20%.

Article Source: www.Placenorthwest.co.uk

Accreditations: The information in this article has been researched and written by Place North West. Please click here to visit the original article.

Office take-up across the Liverpool city region for 2016 exceeded 500,000 sq ft for the fifth year running, according to the 12th annual Commercial Office Market Review.

Total take-up for 2016 was 523,456 sq ft, down 9.3% from the 576,847 sq ft let in 2015.

The review is produced by Professional Liverpool’s property group and supported by the Liverpool BID Company.

Bill Addy, chief executive of the Liverpool BID Company, said: “It is extremely encouraging to see that take-up remains positive, particularly in the Commercial District, but we do need to address the issues around the shortage of office stock. It’s encouraging to see schemes such as Pall Mall coming to fruition as it will provide the grade A space that is much needed to attract investors to the city.”

Tony Reed, head of Liverpool sales for Bruntwood and chairman of the Professional Liverpool property group, added: “Sector wise, we’ve seen a rise in professional services, along with training and the creative, IT and media sectors. We’re also continuing to see the trend of office space being converted for residential/leisure use, for example, Silkhouse Court, Reliance House and Corn Exchange.”

City centre market

Take-up in the city centre, made up of the commercial district and city fringe areas, was up by 1% with 386,981 sq ft. Of this, 342,714 sq ft was let in the commercial district and 44,267 sq ft in the city fringe.

Commercial district take-up climbed by 13%, with the largest deal being Liverpool John Moores University taking 58,264 sq ft at Exchange Station.

Although the volume of space taken in the city fringe was down slightly on 2015, the number of deals in that market rose from 14 to 22.

In both the commercial district and city fringe, small deals were to the fore as the trend of subdividing larger floorplates into smaller suites continued. This was the case at Cotton Exchange, which secured 21 deals, Oriel Chambers with 16 deals and Graeme House, which netted nine deals.

Out-of-town market

Out-of-town take-up fell from 193,824 sq ft in 2015 to 136,475 sq ft.

The biggest winners were Knowsley, where take-up climbed by 64%, and North Liverpool, including Bootle and Waterloo, with a 60% increase. The largest deal out of town was Kura’s 34,983 sq ft letting at Caspian House.

As in 2015, there was just one deal for grade A space in 2016, with 5,387 sq ft at Alaska House let to H&T Group. Grade B space accounted for 92% of all deals in the out-of-town market.

Supply

Supply of quality stock is cited as a concern. Slightly more than 50,000 sq ft of vacant grade A space remains in the commercial district, down from 91,869 sq ft in 2015. Much of the 1.3m sq ft of vacant office space within the commercial district is of little appeal, with just 445,565 sq ft described as being of grade A or B and ready to occupy.

Across the city region, deals for grade B and grade B* offices – space refurbished to grade A standard – accounted for 115 of the 191 deals completed in the city. Just three grade A deals were completed in the commercial district.

Despite the low level of grade A letting activity, the commercial district saw several major investment deals, with 1.3m sq ft of space sold. The largest buyer, with 350,000 sq ft at Exchange Flags and more than 500,000 sq ft at India Buildings was Shelborn Asset Management.

The full report is available here.

Article Source: www.Placenorthwest.co.uk
Accreditations: The information in this article has been researched and written by Place North West. Please click here to visit the original article.

Liverpool council has announced plans to build 10,000 new homes, highlighting the city’s urgent need for new housing to provide for its growing population. The council plans to set up a ‘commercially driven’ housing company to progress the work, which will be spread across sites owned by the council and by the private sector.

The £1 billion commitment was one of the cornerstones of Mayor Joe Anderson’s manifesto when he was elected in May 2015. He describes the ambitious program as the “biggest and boldest house building program, probably in Europe.”

Prime Centrum Business Development Manager Stuart Johnson comments,

“The commitment to build 10,000 new homes in Liverpool is much needed. The city’s ageing housing stock and increasing population have created a severe shortage of homes, meaning that long-term planning like this is required in order to give Liverpool’s residents the high quality accommodation that they both expect and deserve.

“The plan is also indicative of Liverpool’s attraction as a place to invest in property – housing shortages like this aren’t solved in a hurry, meaning that investors can be assured as to the long-term prospects of Liverpool’s property sector.”

While the Mayor’s plans will take some time to come to fruition, investors keen to buy in to Liverpool’s property market have some excellent opportunities available to them. Elegant buy-to-let apartments at Parliament Residence, located by the city’s stunning UNESCO World Heritage waterfront, are available from £109,900. The one and two bedroom homes enjoy a 22% early investor discount and 7% NET income per annum assured for the first three years.

Not only are the yields appealing when it comes to investing in residential property in Liverpool, but capital growth is also an attraction. The city was flagged as enjoying the fastest rate of house price growth in the UK in the May 2016 Hometrack UK Cities House Price Index, with a growth rate of 5.4%.

 

For more information, contact the Prime Centrum team and download the Prime Centrum Liverpool City Guide 2016 for free.

 

Liverpool is known for being a buy-to-let hotspot, returning some of the most favourable yields in the country for those with the foresight to invest there. A thriving business and start up hub with an active cultural scene and a UNESCO World Heritage waterfront, Liverpool offers an exciting blend of commercial opportunity and creativity for those who choose to live there.

Savvy investors have been keen to purchase apartments in top Liverpool locations in recent years, as professional tenants put demand on the housing infrastructure that supply cannot keep up with. The latest stunning building to be launched to the market is Parliament Residence. Presented by specialist real estate consultancy Prime Centrum, the building has been quick to win over the hearts of those looking for a luxurious, waterfront investment in the city.

Stuart Johnson, Business Development Manager at Prime Centrum, explains,

“We have been delighted by how well Parliament Residence has been received since we launched the development in late May 2016. Less than a month after the launch date, a full 30% of the project has already sold. We were expecting interest to be high, given Parliament Residence’s high spec and waterfront location, but we are really impressed by just how quickly the apartments are selling.”

There are several reasons behind Parliament Residence’s strong appeal. The great waterfront location plays a key role. The development offers views over the historic Queens Dock and Albert Dock, as well as Liverpool Cathedral. It is well placed for access to the city’s central business district, as well as to the shops and leisure facilities that are packed into central Liverpool.

The fact that the building are managed by Sutton Kersh is also significant. Sutton Kersh are part of Countrywide PLC, the UK’s largest estate agency group, responsible for managing 100,000 properties. Sutton Kersh alone manage 3,000 homes in Liverpool and this extensive experience will be invaluable to investors looking for a hands off buy-to-let investment at Parliament Residence.

With the apartments offering early investor discounts averaging 22%, the availability of instant equity at Parliament Residence makes the development even more attractive. The luxury apartments are set to appeal to some of the city’s most affluent and ambitious young residents and the combination of capital growth and strong yields (7% NET income p.a. assured for the first 3 years) has clearly caused a stir of excitement within the global investment community.

 

For further details please contact the Prime Centrum team. You can also download the brand new Prime Centrum 2016 UK Buy-to-let Guide free of charge.