Liverpool has experienced huge investment recently from both overseas investment but also government and council backed schemes. As the property sector continues to boom in Liverpool, with capital growth and rental yields continuing to far outperform the UK average, this is expected to continue for the foreseeable future.
Investment from the US accounted for a large part of money injected into Liverpool’s property scene last year, a pattern that the north-west of England continues to experience – a 2018 survey revealed that interest in Manchester from China had risen by 200% from a year earlier. Proptech firm Datscha stated in recent research that £361 million was invested in property from overseas investors in 2018. American money accounted for £156m of that- up from £15m recorded in 2017.
This surge in both overseas and domestic interest has allowed Liverpool to be supported with large amounts of government backed investment. Liverpool City Council has committed to a £500m highway investment program – Better Roads. The work includes a highways scheme designed to upgrade a major arterial route in and out of Liverpool city centre which has already begun. The £3.5m scheme will include replacing the existing road surface, which has deteriorated over the years, and upgrading highway drainage, pedestrian facilities, footways and traffic signals.
Additionally, within the Better Roads program, a £47m revamp of Liverpool city centre is included. The aim of the plan is to make the city easier to navigate for pedestrians, cyclists and motorists. Mayor Joe Anderson said: “This is an investment that is long overdue and an investment that is seriously needed.”
Liverpool council has also backed billions of pounds worth of property development. Notably, the Liverpool Waters development, worth £5.5 billion, includes 2 million sq.m. of residential, business and leisure space residing within 5 new neighbourhoods, bringing life back to Liverpool’s historic docklands. Plans to clear land for a potential £200 million Grade A office scheme in Liverpool’s commercial district has also been given the go ahead. The proposed Pall Mall scheme will feature three office buildings, a hotel and approximately 80,200 sq ft of public space including a new green square.