Why Sheffield should be your next property investment location
When you consider major cities in the UK, which spring readily to mind? London, obviously, perhaps closely followed by Birmingham – which has traditionally been known as England’s ‘second city’ – and Manchester. Glasgow, Edinburgh, Cardiff and Liverpool might also be high on the list. But what about Sheffield?
The Yorkshire city has been in the headlines recently after news of multi-million investment with Chinese company Sichuan Guodong, making it Britain’s biggest property deal by a Chinese developer outside London. The figures are large – initially £200m over the next three years and £1bn over the following 60 years. “It’s a massive vote of confidence in Sheffield,” Julie Dore, the leader of Sheffield city council, said here. “It’s the first deal of its kind to be made by a UK city. This is, we believe, the biggest Chinese investment deal in a UK city outside of London.”
Such developments will inevitably lead to a growth in employment and business opportunities, meaning there will be a real buzz about Sheffield in the future – making it perfect as a destination for a property investment, whether that’s as an investment with a buy-to-let in mind, or as a home to raise a family in. Property prices are on the rise but relatively modest in comparison to other UK cities, with an average price of around £170,000. There is a range of new build properties in construction too, so the time to purchase has perhaps never been better.
Let’s take a closer look at the appeal of the city.
For starters, there’s everything you’d expect from a city in terms of retail and leisure, with the centre providing an ‘eclectic’ mix of shops, bars and restaurants, including the Ecclesall Road area, which is known as the Golden Mile, and the Antiques Quarter. On the outskirts of Sheffield is, of course, Meadowhall, the large shopping centre boasting over 270 retail outlets.
Yet, right on the doorstep of all this urban appeal is rural beauty as Sheffield is fringed with green space and countryside – even being named as the best UK city for countryside lovers a couple of years ago by BBC Countryfile Magazine (winning with 71% of the vote). There are numerous parks and the Peak District – offering stunning views and walks – is right on the doorstep. Arguably more than any other location in the UK, Sheffield provides a seamless integration of city into country.
There are two well established and well regarded universities in the city too – Sheffield Hallam University and the University of Sheffield. Their presence not only provides excellent further education opportunities but brings students from all over the UK – and quite possibly the world – into the city. Any city with a thriving university scene inevitably benefits from a decent social scene, and Sheffield is blessed with a superb range of bars, clubs and restaurants – as well as being renowned for an enviable live music programme.
All of this helps to establish Sheffield as a city definitely worth looking to buy property in – an up and coming area with loads of redeeming features.