Liverpool is at the centre of the UK’s second largest regional economy with access to six million customers, an economy worth more than £121 billion and 252,000 businesses. And in the very centre of this is the new up-and-coming property investment hotspot – RopeWalks.
Found in Liverpool’s exclusive L1 postcode, the RopeWalks area has a rich history. It takes its name and structure from the many rope makers that were based there during the 19th Century. So much so that the roads themselves were built to accommodate the huge shipping ropes made in the city back in the day. Nowadays this locale also features part of Liverpool’s Maritime Mercantile City, a World Heritage Site, Chinatown, and Liverpool’s largest public art instalment. RopeWalks is an incredibly characterful, trendy, and vibrant part of the city centre.
In the last decade, the RopeWalks vicinity has seen over £100 million of investment, restoring some of the historical Georgian properties and refreshing others with new, award-winning architecture. With the help of a £1.5 million fund created by Liverpool City Council, the area has gone from a collection of derelict buildings to one of the trendiest neighbourhoods in the whole of the UK. This has helped to develop the RopeWalks region into a creative hub with a colourful mix of independent businesses, shops, galleries, cafes, pubs and bars. This attracts a variety of young, innovative and entrepreneurial visitors, residents and business-owners all looking to make the district their home.
Now, chic residential buildings, such as our RopeWalks development, are offering the perfect investment for those looking to add to their property portfolio. This exclusive collection of apartments is on historic Duke Street, which backs onto Wolstenholme Square through Tunnage Square (really just a good-looking alleyway), where the famous Penelope sculpture can be found. This attention-grabbing piece by Cuban-American sculpture artist Jorge Pardo was initiated by the Tate Liverpool and commissioned by the Liverpool RopeWalks Partnership as part of Liverpool’s Biennial 2002.
Wandering around RopeWalks, you will undoubtedly also stumble upon monuments such as the Chinese Arch. Decorated with 200 Chinese dragons, it marks the entrance to Europe’s oldest Chinatown and is the focus of the Chinese New Year celebrations along Nelson Street. This area is also embarking on an ambitious rejuvenation, with the £200 million New Chinatown Liverpool project breaking ground earlier this year.
This scheme, backed by Liverpool City Council, includes the development of a hotel, 850 new homes and will feature “a unique Chinese retail core”, which will turn the area into a “hub for Chinese businesses and retailers keen for a foothold in the UK.” The designs for New Chinatown are part of the Northern Powerhouse investment project and were shown to Chinese president Xi Jinping, during his visit to the north of England in October, 2015.
The area is also close to other key parts of the city such as the Baltic Triangle, Albert Docks and the Liverpool ONE shopping precinct. All of which are also blossoming due to extensive regeneration plans.
With so much potential and such significant funding pouring into the city, and this area in particular, RopeWalks offers property buyers, and investors alike, a considerable investment. Especially when taking into account the relatively low house prices in the city when compared to UK national averages. RopeWalks is truly one of Liverpool’s glowing gems that can only keep shining brighter as the years go by.
If you’re looking to learn more about which area to invest in this great city then check out our useful post on the top 6 postcodes in Liverpool to invest in. If you’re ready to get started then you can skip ahead and have a look at our investment opportunities in Liverpool.