Categories
Deal Sourcing UK Investment Property UK Property Software

Why you should probably invest in Sheffield in 2020.

Introduction

Sheffield is a historic city in South Yorkshire, part of the Core Cities Group. 61% of the city’s surface area is nature, as it is surrounded by mountains and rivers. A third of the entire city is situated in the Peak District National Park! Sheffield is also considered a historic and cultural city as it played a very important role during the Industrial Revolution and is widely recognised as the birthplace of stainless steel, giving the city its second name “Steel City”. It is also home to Sheffield F.C, the world’s oldest football club according to the FIFA.

As of mid-2019, the population of the City of Sheffield is of 584,853 people whereas its metropolitan area has around 1,569,000 inhabitants. This ranks it 2nd largest city in Yorkshire and the Humble and 3rd biggest English city by population (behind Birmingham and Leeds).

Here are our 5 reasons why you should consider investing in Sheffield:

1. One of the fastest growing cities in the country.

Sheffield is growing and expanding at an alarming rate. According to the Sheffield City Council’s forecasts from 2014. The population is projected to increase by around 88,600 people over a 25-year period to 652,300 in 2039.

2. A new centre for high-tech companies.

Thanks to the inauguration of its Advanced Manufacturing Park (AMP), a manufacturing technology park which has Enterprise Zone status and the University of Sheffield’s Advanced Manufacturing Research Centre (AMRC), Sheffield is becoming home to many big tech companies and manufacturers, bringing many new job opportunities to the area.

3. Sheffield’s rapid renewal and regeneration projects.

To prepare for the arrival of high-tech companies, Sheffield city centre is being transformed and renewed. After Heart of the City I scheme’s success, Sheffield is undergoing a Heart of the City II scheme. This scheme seeks to inject £470 million into the construction of two new hotels, shopping centres, leisure buildings, offices and other general improvements to the city centre’s infrastructure. Another important project is the West Bar Square – a £175 million development project situated in the Riverside Business District which aims to deliver over 700,000 square feet of new offices, residences, hotels, restaurants, shops and public infrastructure.

4. A big student hub.

The University of Sheffield is a prestigious and widely recognised institution, home to 60,000 students. It is situated in the city centre whereas Sheffield’s second university, the Sheffield Hallam University is located two miles away on Ecclesall Road, a trendy up and coming area. Sheffield is therefore a major student city with around 1 in 10 people being students making it interesting for HMO’s.  

5. Cheap investment, good returns.

As Sheffield is still developing as a city, its property prices are still relatively accessible. Due to the big role it played during the Industrial Revolution, Sheffield has always been a very affordable place. Today is no different, it is one of the cheapest “bigger” cities to invest in England. According to Hometrack, it is the third cheapest property market in the UK, just behind Liverpool and Newcastle.

Moreover, Sheffield property prices have increased by around £33,000 since 2008 – the largest increase in property value of any city in Yorkshire!

Best areas to invest in:

The best areas for student properties are found around the Universities. Other good areas include Broomhall, Broomhill, Crookes, Crookesmoor, Darnall, Eccleshall, Heeley, Hillsborough, Hunters Bar, Millhouses, Norfolk Park, Ranmoor, Sharrow, Walkley and Woodseats. It would also be beneficial to look into purpose-built student accommodation, scattered around the city.

Brought to you by DealSourcing.co.

DealSourcing.co puts the power of automation in your hands. Search over 200,000+ Below Market Value deals (Buy-To-Let, HMOs and BRRR) with ROIs above 15% with the click of a button. Find High Yield properties with our efficient and easy-to-use tools.

Leave a Reply

Your email address will not be published. Required fields are marked *