Along with some other northern cities, such as Liverpool and Leeds, Sheffield has become one of the most exciting investment hotspots in the UK’s property sector. Whether you’re looking to invest in residential buy-to-let, commercial property or student housing, there are lots of opportunities in Sheffield.
Historic Industrial Powerhouse
Sheffield is the city of steel, with its roots in the industrial revolution and specialised production. Now considered one of the northern economic powerhouses, it’s a thriving hub with a population of 560,000 people. The metropolitan district of Sheffield is much larger, with more than 1.5 million people living in the surrounds of the city.
Thriving Young Population
While you may not be looking to invest in student housing, the fact that Sheffield is home to two of the country’s largest universities (Sheffield University and Sheffield Hallam University) is part of its draw. There is constant demand for student accommodation, but also a constant stream of young graduates making their way in the city.
This leads to a huge demand for private residential rental property, both in the city centre and in the suburbs.
Transport Links In Sheffield
There is far more to the property investment opportunities than students and graduates, however. The borough of Sheffield is the third largest in the England, and as it’s relatively centrally located in the country it’s naturally ideal in terms of travel and accessibility.
The city has four airports within less than half an hour’s drive, helping to make it an easy transport hub for overseas as well. Lying adjacent to the M1, Sheffield is also directly linked to many cities and towns all over the UK. Added to all this, there are also speedy direct train links to London, and the possibility of a high-speed rail service if plans are approved.
Buy-to-let Property In Sheffield
Regeneration and a buoyant job market combine to make Sheffield a very popular place for people to live, work and study. The corresponding demand for homes, rental property, retail space and commercial units is increasing faster than it can be provided.
All of which leaves a very attractive area for investment, particularly with buy-to-let property. We can attribute the resilience of the private rental market in Sheffield to the limited number of high-quality housing schemes that are available in central locations, particularly when compared to other cities.
Robust Economy In Sheffield
Sheffield’s fast-growing economy is now worth £7bn a year. Its GVA (Gross Value Added) performance has increased by almost £4 billion since 1997, and the economy is continuing to grow by an average of 5% every year.
Investment in the city is helping Sheffield to remain of England’s leading areas for manufacture and engineering. In recent years, there has also been a significant growth in the service industries, as well as financial services, digital and new media, environmental technology and energy. An international reputation as a centre for excellence and cutting-edge delivery is being enhanced all the time.
Home to one of Europe’s largest leisure and retail complexes, Meadowhall, brings 400,000 visitors every week. And, on top of all this, Sheffield is one of the ‘greenest’ cities in the UK, with more than two million trees, 83 parks and 150 woodland areas.
Aspen Woolf’s New City-Centre Development – Kelham Works
At Aspen Woolf, we are fully involved in boosting Sheffield as a prime investment spot for property. Our brand-new development is located in one of the city’s most impressive areas, Kelham Island.
Aiming to provide a solution to the constant increase in demand for city-centre space at affordable prices, Kelham Works is shaping up to be highly sought after by investors. Apartments will be available from only £89,995, with an assured yield of 8% over three years. You can expect a return of £49,504 from a £75,000 investment in just five years. You can rent to either students or young and established professionals.
Any investors looking for property in Sheffield, contact the team at Aspen Woolf here. We’d be happy to talk you through your options and work with you to make a profitable investment decision.