We are sure you are all aware of the work that is transforming the area around Coventry’s train station on the ring road. The ring road is being re-designed to allow a bridge deck to be built across and create a new public boulevard, linking both the city centre and the Greyfriars parkland. Friargate is the name given to the scheme that is creating the new business districts in the city which will encourage over 15,000 new job opportunities. The area will be transformed into 25 new buildings, including, offices, hotels, homes, and retail and leisure facilities.
Alongside the new Friargate plans, Coventry city also encourages large rental demand from students from both Coventry University and Warwick University. Coventry University has proposed further plans to expand the university and have developments in place that are expected to attract future job opportunities and higher rental demand from students. The University’s project alongside the various plans that the Friargate project has highlighted suggests in the near future we are certain to see a new and transformed Coventry.
Even before the redevelopment plans were in place by both Friargate and Coventry University, at Embrace we strongly believe that the Coventry and Warwickshire area provides large opportunity for investing in property. Firstly, one of the largest benefits in the city is Coventry University and Warwickshire University. Both support the huge rental demand, housing over 35,000 students each year, providing an investor the opportunity to gain significant returns from their properties. There is also a rise in new job opportunities within the city from sectors such as Automotive, Aerospace, Digital Technology, Manufacturing and Logistics. This will also increase rental demand in the area.
It has also been stated that “supply is also increasing, up 11% year on year, but it is not keeping up with the increase in demand. There are now over five potential buyers for every available property and it is this imbalance in demand and supply which pushing prices up”. This is positive news for investors who wish to follow a buy to sell strategy.
The above information is positive for those who wish to invest within the Coventry and Warwickshire area, but it is important to research your investments fully to make sure they work for your strategy.
- Peter Iwaniszewski