Sheffield is a city that has evolved from it’s industrial roots to become a leading UK metropolis.
As the third largest English district by population with over 68,000 businesses in the region it’s an area that is of particular interest to investors, thanks to it’s steadily increasing economic growth, and great demand for housing.
Indeed, Sheffield had the highest annual growth rate in property prices across the UK in 2017, with the rate at 5.38, but with entry prices still at an attractive rate to would be investors.
Sheffield has shown excellent economic growth in previous years. It’s £11bn economy has continued to growth, with advances in key sectors such as digital and creative, with large investments from the likes of McLaren and Boeing.
Following in the footsteps of other Northern Powerhouse cities, Sheffield has put in place significant investment into development of the region, including a new £90m development which is underway for a new site for HSBC bank – already one of the largest employers in the area.
A study undertaken by Sheffield City Council also highlighted that it believes that there is a ‘prosperity gap’ highlighting what the region does produce compared to what it could produce is around £1.6 billion. With an already strong economy, this shows that there is much potential for growth in this already thriving economy.
With the announcement in the budget of a £37 million investment for Northern Powerhouse Rail, which will connect Leeds, Liverpool, Manchester and Sheffield, it’s good news for connectivity to the area, in addition to the plans already in place for HS2.
Well connected by road, there are plans in place to further improve roads around the area with £3m road widening project.
Sheffield is leading the way when it comes to research facilities and university-industry partnerships. It’s comes to the internationally lauded Advanced Manufacturing Innovation District, and the University of Sheffield’s Advanced Manufacturing Research Centre. Sheffield Hallam University’s Advanced Wellbeing Research Centre will soon be the most advanced research and development centre for physical activity in the world, providing state-of-the-art, fully instrumented indoor and outdoor laboratories and a team of more than 70 researchers delivering collaborative projects.
Sheffield’s two leading universities with over 63,000 students between them offer investors excellent rental yields thanks to an ever increasing demand. 70% of students in Sheffield have no access to dedicated accommodation, and with a steeply rising number of international students wishing the study in the city, the demand for student accommodation is extremely strong.
Buy Student Accommodation in Sheffield
Benoit Properties are proud to bring the market Allen Street, Sheffield. A high spec development of purpose build student accommodation offering investors the opportunity to invest in prime city centre studios, with an 8% net yield, fixed for five years.
We truly believe that Sheffield is an area that offers investors excellent potential for both rental yield and long term growth, adding an asset of great value to any investors portfolio.