Here is Property Options’ latest update on the Bristol Buy To Let (BTL) market – for August 2019.
This update is by economist Chris Worthington, who is a regular PIM speaker.
The proposals in “Powerhouse for the West“, a new report published by the Great Western Cities Partnership, will boost the regional economy through investment, co-ordination of economic development and improved transport infrastructure. Bristol is at the heart of the region stretching from South Wales to Bath, Gloucester, Cheltenham and Swindon.
Speaking at the launch of the initiative Marvin Rees, the mayor of Bristol, set out the potential for boosting international trade and overcoming the mismatch between between areas of employment growth and deprived areas.
This is good news for landlords and buy to let investors, because the new high quality and well paid jobs will create a demand for housing in all sectors, including the private rented sector.
Property development companies are taking up the opportunity on a large scale.
Here is summary of projects that have recently been announced:
- Feeder Estates plan to redevelop the old industrial zone next to the Feeder canal for homes, offices, shops and a school. Around 400 homes will be built, 20% will be affordable.
- Bristol based developer Cubex has drawn up plans to transform the former the former headquarters of the Avon fire and rescue service into new homes and offices. The £140 million scheme will include 300 homes in the next phase of the Finzels Reach quarter.
- Cubex also have plans for a mixed use development known at the Frome Gateway. This will provide 1500 homes, offices, a hotel and workspace on land next to the M32 and the River Frome.
- Building work has started at the Castle Park view development. It will provide 375 homes in a 22 storey development. This will be the highest building in Bristol.
- Crest Nicolson and the Sovereign Housing Association have announced the formation of a new partnership to deliver 920 new homes within the next phase of the 2700 home residential community at Harry Stoke.
- There are long term plans to redevelop land in the Cumberland Basin between Hotwells and Spike Island. This will provide 2500 homes and a mix of workspace, retail and leisure facilities, open spaces and new walking and cycling routes.
When these developments are built in the coming decade Bristol will be transformed, as it continues on it’s remarkable journey to becoming a global city of the 21st century.
Our Next Property Meeting
We will all be discussing the latest position on the property market in Bristol and across the UK at our next PIM, after the summer break, on Thursday 26 September 2019 at Future Inn, Bristol, BS1 3EN.
We hope you will join us then.
For more info and to reserve your place Click Below