New, modern property developments can have a positive effect on any city. Just look at the way Salford has become a jewel in the crown for Manchester in recent times, for example. After the regeneration of the area, upwardly mobile young people and swathes of exciting modern companies made the move to the area, boosting jobs and helping the area to achieve a new lease of life.
Officials in Liverpool will be hoping that new developments such as the £40 million project One Wolstenholme Square will have a similarly positive effect on the city in years to come, with the development aiming to provide a large number of modern and attractive housing that will be sure to attract new people to the area.
So what can Liverpool potentially expect from new developments such as this?
The improvement in accommodation in Liverpool can only be a good thing for the city at the moment. In the age of what has become known as generation rent, where more and more young people are actively looking to rent rather than buy homes, tenants are more scrutinising than ever before.
By providing attractive and modern accommodation in city centres that people want to live in, developers can not only help to give investors strong returns, but can also help to attract skilled young graduates to the city, which can only be a good thing for Liverpool as a whole.
The knock-on effect of this, of course, is that more jobs will come to the city in the long run. As we’ve previously seen in Manchester, forward thinking companies that no longer feel the need to be in London are always looking for new places to set up shop, and cities that have a high concentration of skilled young graduates are prime location for companies to head to.
This is particularly true of cities like Liverpool, where office and other commercial spaces are available at far better prices than can be found elsewhere in the country, making companies want to move their operations there. This, of course, creates jobs that otherwise would not be available in Liverpool, which in turn attracts even more skilled young people to the city.
Developments in the city centre from companies like Experience Invest that help to bring a modern twist to places like Liverpool can also help to spark even more regeneration in the future. When developers see the positives that come from bringing fantastic new buy-to-let facilities to cities, it can only serve to increase interest from more buyers, which in turn helps the area to grow and modernise even quicker, bringing more and more positivity to the economy for years to come.