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A project spanning 20-acres
Trafford is currently undertaking millions of pounds worth of regeneration, a master plan that is spanning over the next decade. From housebuilding to leisure centres, the regeneration project will completely transform Trafford.
The project covers 120 acres of land. The plans include building a new leisure centre, improved public spaces, a new university campus, housing, office space, and upgraded cycling and pedestrian routes. They also include a new public piazza which would serve as a focal point for celebrations and events throughout the year.
The mammoth regeneration project will turn Trafford into a vibrant and sociable area for everyone in the borough to enjoy. For property investors, Trafford is bound to become a hotspot of investment opportunities. This regeneration project is much needed, providing improved amenities and transport links that will further strengthen the economy.
The perfect time to invest
The first stage of a £50m affordable homes project is underway in Trafford. Irwell Valley Homes, a registered social housing provider in the North-West, is undertaking the regeneration project. Creating over 200 new homes and an expansion to existing homes will transform the area over the next seven years. £7m will go specifically towards repairing existing houses. This includes fitting new boilers, roofs, kitchens, and paintwork. The affordable homes will be available for social rent. The properties will be reserved for those with a local connection to Trafford and will not be offered for sale or rent on the open market. This project will be the biggest estate regeneration in Greater Manchester for over a decade.
The government’s affordable homes scheme has put a spotlight on the dramatic shortage of housing. This means there is a housing shortage at a period where demand is higher than ever. For developers, now is the perfect time to dig their spades into the ground. Similarly, for investors, now is the perfect time to invest off-plan. With housing demand reaching new heights, an off-plan property will only increase in price when complete. Therefore, creating the ideal market for a property investor.
The regeneration of Stretford will be a milestone for the community. There will be a wave of regeneration projects across the borough. Developers Bruntwood Works are in partnership with Trafford Council to transform the area. The proposals aim to “revitalise” Stretford town centre, restore the historic King Street and open up the Bridgewater Canal to make space for new waterfront bars and restaurants.
The plan includes the creation of 800 new homes, as well as the 27-acre regeneration encompassing five neighbourhoods. Also, 200,000 sq ft of office space will be built as part of the £208 million “Lumina Village” development. In addition, this development will include a 100-bedroom hotel and a primary school, creating more than 2,000 jobs.
King Street will become a lively retail and leisure boulevard, creating a space for independent market retail traders to thrive. In a project with community at its heart, the high street will be reinstated to provide more shops, a new public square, a new park, and a revamped Stretford Mall. The street will open up access to Bridgewater Canal, creating a new waterfront destination with bars and restaurants.
This regeneration project will massively improve the area, creating valuable green, open spaces. Stretford will become an exciting and modern area centre for the community to enjoy. As a result, the project will draw in an abundance of local independent businesses and retail and hospitality brands, enhancing the lives of the residents.
A Huge Milestone
Trafford Council is also looking to boost the economy via a plethora of major infrastructure projects. The Civic Quarter Masterplan involves the creation of 750 new homes as well as a leisure centre and hotel. The project covers 120-acres, including the town hall, Lancashire Cricket Club, and the former Kelloggs factory site. This particular master plan spans the next 15 years and is a huge milestone for the borough. The Civic Quarter is one of the most popular places in Old Trafford, attracting 2.5 million people a year. Therefore, the mammoth project presents a fantastic opportunity to develop local amenities and enhance the public spaces.
The much-needed regeneration of Trafford will create a vibrant, lively community. As well as tackling the current housing crisis, there will also be a huge emphasis on sustainability. Trafford is an economic powerhouse in Greater Manchester, with one of the most talented labour pools in the North-West of England. It is also home to the popular shopping destination, Trafford Centre, which contributes more than £485 million to the local economy each year. Also, the world-famous Old Trafford football stadium sits at the heart of the district. As you can see, it is no surprise that Trafford boasts the highest GVA in Greater Manchester.
On top of this, it is said Trafford has the most ‘vibrant’ economy in Greater Manchester. The title is based on characteristics such as community, trust, health, equality, happiness, and wellbeing. People consider Trafford to be a great place to live, work, and invest because of its low unemployment rate and comparatively high weekly pay. Consequently, Savills forecast house prices to rise by around 24% over the next five years. Therefore, making this the perfect time to secure your property investment purchase.
The Trafford regeneration master plan will undoubtedly boost the economy even further and improve the lives of the people living in the area. With a focus on infrastructure, sustainable and affordable housing, and enhanced public space – Trafford is bursting with opportunities for buyers and investors.
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