There are a number of factors that make Luton an attractive destination for property investment, one of which is the ongoing regeneration and redevelopment of the town.
This recently took another step forward with the announcement that planning permission has been confirmed for Luton Town Football Club’s new stadium at Power Court.
As well as being good news for local football fans, the development is expected to provide a major boost for the town as a whole.
An exciting addition to Luton
Luton Town have been playing their home games at the Kenilworth Road stadium for more than 100 years and have been trying to relocate to a new site since the 1950s.
Plans for the new Power Court ground were lodged in August 2016, with the club’s planning advisor stating that the current venue is simply “no longer fit for purpose”.
The proposals recently went before Luton Borough Council and were approved by the Planning Control Committee, which heard statements from figures including Luton Town’s chief executive Gary Sweet about the various benefits of the planned development, not only for the football club but for the community as a whole.
In addition to a 23,000-seat football stadium, Power Court will comprise bars, restaurants, a hotel and housing.
The planning meeting heard that the complex will add “vitality and vibrancy” to Luton, making the area a “significantly more pleasant place”. Mr Sweet said he wanted the new stadium and accompanying features to be “something the town can be proud of”, BBC News reported.
Planning Control Committee chairman David Taylor said: “Even if you are not a football fan in this town, you will be able to see what this site can give us in terms of housing and entertainment.”
Mr Sweet also pointed out that keeping Luton Town FC’s stadium in the centre of town would help to reinvigorate the area and “change visitors’ view of Luton”.
This is part of a wider regeneration effort that has been taking place in the heart of the Bedfordshire town in recent years, a trend that provides encouraging signs for buy-to-let investors who own property in the area.
Back in 2015, businesses in the town centre voted in favour of becoming a Business Improvement District, triggering a five-year investment plan designed to build on local visitor offerings and experiences.
The general redevelopment and improvement of Luton means there will be more job opportunities and stronger incentives to live in the town, fuelling demand for private rental properties.
What’s more, Luton remains a highly popular living destination for people working in the capital, having recently retained its position at the top of a list of London commuter belt hotspots compiled by estate agents Jackson-Stops.
One of the biggest factors in the town’s favour was its strong rail performance rating, with journey times into the capital starting from just 22 minutes.
If you are currently looking for an opportunity to enter the property investment market in Luton, Experience Invest is inviting registrations of interest in Imperial Square, an off-plan development of one and two-bedroom apartments in the town centre.