Why Invest in Hull?
Wed 04 Dec 2013
Location: in the heart of the UK, with the city being an equidistant 200 miles from London and Edinburgh, 100 miles from Manchester and less than an hour's drive from Leeds and York. Excellent road links, 2 international airports and a
thriving ferry terminal that handles over a million passengers a year as they pass to and from Europe.
Property Information: property prices in Hull have increased c10% from their 2010 lows, however, still remain c30% below the prices of 2007 and significantly below the national average price.
Prices: expect to pay £40,000-£75,000 for a 2-3 bed
terraced property in Hull city centre. New build inner city flats can be purchased for c£75,000-£100,000.
Rental yields: among the best in the country at 6-9%
The opportunity: to purchase rental property in a city
likely to benefit from regeneration and inward investment, with yields of 6-9%,at prices significantly below the national average price and still significantly below 2007 levels.
Population: over 900,000 live in the Hull & Humber area, and the population is expected to grow by 10% by 2021. Almost half the workforce is classified as managerial, professional or skilled. 1 in 5 people are qualified to degree level or higher. Around 25,000 companies employ a labour force of more than 400,000.
Industries: In the last year alone, we've seen investments as diverse as Japanese chemicals company Nippon Gohsei making its second big investment there, Crown Paints opening a logistics hub to deliver paint to clients around the world and Morrison's investing in new operations for seafood products.
The Humber is home to healthcare giants Novartis, Smith & Nephew and Reckitt Benckiser and some of the biggest and most successful food industry players are proud to call Hull home, with Cranswick plc, Greencore and Aunt Bessies all based here with 500 other companies employing around 48,000 people.
Over £200 million of retail and leisure investment so far has transformed Hull city centre attracting more people than ever. Whilst Humber Quays Hulls prestigious waterfront business district, has attracted names such as Royal Bank of Scotland, Pricewaterhousecoopers, Barclays Commercial and Baker Tilly.
SOURCE; JAMES ORGAN RESIDENTIAL PROPERTY GROUP.
October 2013View older stories >
Instant Online Valuation
Interested in your property value?